Canara Bank Home Loan Interest Rates 2026

Canara Bank offers home loans at both fixed and floating interest rates, depending on the credit risk grade, loan amount, and loan variants. It also offers an interest rate concession of 5 bps to women borrowers, salary account holders with Canara Bank, and for takeover and ready-to-move HL proposals. Borrowers can also visit Paisabazaar app to check for Canara Bank Home Loan interest rate offers and apply digitally.

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Canara Bank Home Loan Interest Rate – Key Highlights

Canara Bank offers home loans starting from 7.15% p.a. onwards.
The floating-type Canara Bank home loan interest rate depends on external benchmarks, such as the repo rate, and may vary when the RBI modifies this rate.
Canara Bank home loan interest rates depend on the Credit Risk Grade (CRG), loan amount, and the type of home loan scheme.
The bank offers an interest rate concession of 0.05% to its women borrowers.
Canara Bank offers an additional concession of 5 bps to salaried employees maintaining their salary accounts with the bank and for takeover and ready-to-move HL proposals.

Home Loan Interest Rates Offered by Canara Bank

Canara Bank Housing Loan for Amounts up to Rs. 50 lakh

Credit Risk Grade	Interest Rate (p.a.)
Women Borrowers	Other Borrowers
CRG-Prime	7.25%	7.30%
CRG:1	7.25%	7.30%
CRG:2	7.65%	7.70%
CRG:3	8.45%	8.50%
CRG:4	9.95%	10.00%

Canara Bank Home Loan for Amounts above Rs. 50 lakh to Rs. 1 crore

Credit Risk Grade	Interest Rate (p.a.)
Women Borrowers	Other Borrowers
CRG-Prime	7.20%	7.25%
CRG:1	7.20%	7.25%
CRG:2	7.60%	7.65%
CRG:3	8.45%	8.50%
CRG:4	9.85%	9.90%

Canara Bank Housing Loan for Amounts above Rs. 1 crore to Rs. 25 crore

Credit Risk Grade	Interest Rate (p.a.)
Women Borrowers	Other Borrowers
CRG-Prime	7.15%	7.20%
CRG:1	7.15%	7.20%
CRG:2	7.55%	7.60%
CRG:3	8.35%	8.40%
CRG:4	9.65%	9.70%

Canara Site

Credit Risk Grade	Interest Rates (p.a.)
CRG: 1	9.05%
CRG: 2	9.10%
CRG: 3	9.60%
CRG: 4	10.10%

Canara Home Loan Plus – Term Loan

Credit Risk Grade	Interest Rates (p.a.)
CRG: 1	8.55%
CRG: 2	8.60%
CRG: 3	9.10%
CRG: 4	10.60%

Fixed Interest Rates

Credit Risk Grade	Interest Rate (p.a.)
Women Borrowers	Other Borrowers
CRG-Prime	8.50%	8.55%
CRG:1	8.75%	8.80%
CRG:2	8.80%	8.85%
CRG:3	9.20%	9.25%
CRG:4	10.70%	10.75%

Canara Home Loan Plus – Term Loan

Credit Risk Grade	Interest Rates (p.a.)
CRG: 1	8.55%
CRG: 2	8.60%
CRG: 3	9.10%
CRG: 4	10.60%

Canara Site

Credit Risk Grade	Interest Rates (p.a.)
CRG: 1	9.80%
CRG: 2	9.85%
CRG: 3	10.35%
CRG: 4	10.85%

How to Calculate Canara Bank Home Loan EMI

A Canara Bank home loan EMI is the amount you have to pay every month until your home loan is completely repaid. The amount of your EMI mainly depends on three things: the loan amount, the interest rate, and the loan repayment period (tenure).

The EMI is calculated using a standard formula, but you don't need to calculate it yourself. You can simply use Paisabazaar’s Home Loan EMI calculator to find out your monthly payment.

How is the EMI Calculated?

The formula used to calculate EMI is:

EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ − 1]

Here:

P is the amount you borrow from the bank.
r is the monthly interest rate, which is calculated by dividing the annual interest rate by 12 and then by 100.
n is the total number of monthly installments. You can calculate this by multiplying the loan tenure in years by 12.
EMI is the amount you need to pay every month.

Example

Let's say you take a Rs. 50 lakh home loan from Canara Bank at an interest rate of 8.40% per year for 20 years.

In this case:

Loan amount: Rs. 50,00,000
Interest rate: 8.40% per year
Loan tenure: 20 years
Total number of EMIs: 240 months
Estimated EMI: around Rs. 43,075 per month

So, you would need to pay approximately Rs. 43,075 every month for 20 years to repay the loan, assuming the interest rate stays the same throughout the loan period.

If you choose a floating interest rate, your EMI or loan tenure may change in the future when RBI modifies the repo rate.

Canara Bank Home Loan EMI Examples

Canara Home Loan EMI for different tenure

Interest Rate (p.a.)	Loan Amount (Rs.)	Loan Tenure (years)	EMI (Rs.)
7.15%	30 lakh	10	35,065
7.15%	30 lakh	13	29.587
7.15%	30 lakh	15	27,217
7.15%	30 lakh	20	23,530
7.15%	30 lakh	25	21,491

Canara Bank Home Loan EMI for different loan amounts

Interest Rate (p.a.)	Loan Amount (Rs.)	Loan Tenure (years)	EMI (Rs.)
7.15%	20 lakh	30	13,508
7.15%	22 lakh	30	14,859
7.15%	25 lakh	30	16,885
7.15%	30 lakh	30	20,262
7.15%	35 lakh	30	23,639

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FAQs

What is the starting interest rate for Canara Bank home loans?

Canara Bank home loan interest rates start from 7.15% p.a. for eligible borrowers. The applicable rate depends on the loan amount, credit risk grade, and selected home loan scheme.

Do women borrowers get a concession on Canara Bank home loan rates?

Yes. Canara Bank offers a 0.05% (5 bps) interest rate concession to women borrowers. Additional concessions may also apply to eligible salary account holders and certain proposals.

What interest rate applies to home loans above Rs. 1 crore?

For loans above Rs. 1 crore and up to Rs. 25 crore, floating rates start at 7.15% p.a. for women borrowers and 7.20% p.a. for other borrowers.

How does the credit risk grade affect the home loan interest rate?

Your credit risk grade can significantly affect the applicable rate. For loans up to Rs. 50 lakh, rates range from 7.25% to 10.00% p.a., depending on the risk grade.

Does Canara Bank offer fixed-rate home loans?

Yes, Canara Bank offers fixed-rate home loans. Rates range from 8.50% to 10.75% p.a., depending on credit risk grade and whether the borrower is a woman.

What is the interest rate for Canara Home Loan Plus?

Under Canara Home Loan Plus – Term Loan, interest rates range from 8.55% to 10.60% p.a. based on the borrower's credit risk grade, from CRG 1 to CRG 4.

How is the EMI for a Canara Bank home loan calculated?

Home loan EMI depends on the loan amount, interest rate, and repayment tenure. For example, a Rs. 50 lakh loan at 8.40% for 20 years has an estimated EMI of about Rs. 43,075.

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