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Canara Bank Personal Loan

To meet genuine personal financial needs other than speculative purposes, you can switch to Canara Bank Personal Loan to get immediate cash on hand to solve problems.
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Canara Bank Personal Loan

Canara Bank personal loans interest rates are very attractive when compared to other lenders, with no hidden charges made by Canara Bank on personal loans and viable options for borrowing for any urgent financial requirements. 

Features and benefits of Personal Loan

Features:-

  • Use for Multiple expenses
  • Flexible tenure
  • Online application

Benefits:-

  • Affordable interest rates and other charges
  • No security needed
  • Less paperwork
  • Interest Rate Starting From 10.99%

 Also Read:-Supplier credit and Buyers credit

Different types of Canara Bank Personal Loan

There are different types of personal loan offers by Canara bank:-

Canara Pension Loan Interest rate of Canara pension loans up to 10.20% onwards.
  • General Pensioners can get 5 – 10 lakhs
  • For Defence Pensioners loan amount availability is Rs. 5 – 10 lakhs
  • For Family Pensioners can get 3 – 5 lakhs
Canara Budget The interest rate charged on Canara budget is up to 11.25% onwards. As per applicant profile and previous credit history

Canara Bank Personal Loan Interest Rate and Processing Fees

Interest Rate 10.20% onwards
Loan Amount Up to Rs. 10 Lakh
Loan Tenure Up to 84 months
Processing Fees Up to 1% of loan amount sanctioned

Other charges on Personal Loan

  • Penal interest: - 2% per month
  • EMI bounce charges: - Rs. 1,000
  • Fees for duplicate statements: - This fee generally ranges between Rs.200 and Rs.500
  • Stamp duty: - At actuals
  • Foreclosure charges: - 4% + applicable taxes

Comparison of Canara Bank Personal Loan Interest Rate with Other Lenders

Banks/NBFCs name Interest Rates (per annum)
Canara Bank 10.20%
SBI 9.60%
HDFC Bank 10.25%
PNB 7.95%
Axis Bank 10.49%
Kotak Mahindra Bank 10.25%
IndusInd Bank 11.00%
IDFC First Bank 10.49%

 Canara Bank Personal Loan Eligibility Criteria

Canara Budget Canara Pension
  • Confirmed employees of State/Central Government 
  • Reputed PSUs 
  • Reputed Corporate/Public Limited Company/Private Institution 
  • IT/BT Company 
  • Any Lecturer or Assistant, Professor or Professor of Colleges, Research Institute and University, etc.
  • State Government Pensioners 
  • Central Government Pensioners 
  • Pensioners of all Government Department Undertakings 
  • Pensioners of all Public Sector Undertakings/Corporate Pensioners 
  • Family Pensioners of all the above categories

 Also Read:-Project Loan for Textile Industry in India

Canara Bank Personal Loan Documents Required

KYC Document - 

Salaried & self-employed both required to provide any of the following-

  • PAN Card
  • Aadhaar Card
  • Driving License
  • Election/ Voter ID Card
  • Passport

Proof of Income -

  • Applicant should require last 3-month payslip
  • Applicant should have bank statement of last 3 months

Financial Documents -

Salaried Individuals:- For salaried individuals required last 3 months' Salary Slips and, Bank Statements of 6 months.

Self-Employed Individuals: - If you are a Self-employed individual you need to require a last 1-year bank statement for both savings and current account.

Proof of residence -

Documents required for address proof:

  • PAN Card
  • Passport
  • Aadhaar Card
  • Driving License
  • Election/ Voter’s ID Card
  • Property/ Municipal Tax receipt

Electricity bill, telephone bill, water bill, phone bill, gas bill, etc.

How to apply for Canara Bank Personal Loan Online?

You just need to follow the given below mentioned steps to apply for Canara Bank personal loan online:

Step 1: - Firstly you should Identify the requirement and the loan amount as per your need, this will help you to apply for the correct amount.

Step 2: - Visit the official website of Canara Bank and choose a personal loan to fill your personal, financial, and employment details.

Step 3: - After completing this step and once you submitted the application If, your criteria match then only Canara Bank representative will contact you.

Step 4: - After the confirmation, you need to submit documents like your proof of identity, address proof, and a bank account statement for the last 6 months.

Step 5: After evaluation of your information.  Your loan approval take place and loan amount will be credited to your respective account.

Also Read:-Yes Bank Home Loan

Canara Bank Personal Loan FAQ

Who is Eligible for Canara Pension Loan?

The eligibility criteria of Canara pension loan are given below:-

  • Canara Bank pensioners
  • Central government pensioners
  • State government pensioners
  • Public sector undertakings’ pensioners
  • Family pensioners of  retired employees

How do I know if my Personal Loan application has been approved?

After completing and summiting all documents & details. You can go to the customer care unit of Canara Bank for checking the personal loan application status or you can check the status of your personal loan by using Canara Bank net banking account.

How can I use Canara Bank Personal Loan EMI Calculator?

If you want to check your EMI, you can use Canara Bank Personal Loan EMI Calculator just fill in basic information like the amount of personal loan you wish to borrow, the rate of interest, and the tenure of the repayment of the personal loan to calculate the EMI.  EMI Calculator indicates the accurate sum of your EMI that you have to pay on a monthly basis.

How can I get Canara Bank Personal Loan online?

  1. Open the official website of a Canara Bank.
  2. Log in to your personal loan account using customer ID and password.
  3. Click on 'View statement'.

What is Canara Bank credit score for a Personal loan?

If the Applicant wants to get a personal loan then his/her credit history should be above 750, this is an ideal credit score accepted by Canara Bank.

Canara Bank Customer Care

If, customer-facing issue, any questions, and queries call us today on mentioned toll-free numbers.

Toll-Free Numbers

1800 425 0018

1800 103 0018

1800 208 3333

1800 3011 3333

(If calling from outside India Call on NXon- toll-free number)

+91-80-22064232

Apply Now:-Supply Chain Finance SBI

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