Canara Bank Home Loan

Home Canara Bank Canara Bank Home Loan
loadingGet the Best Home Loan Offer
loading

Get Canara Bank Home Loan at Lowest Rates

  • Interest Rate: 8.10% onwards
  • Loan Tenure: Upto 30 years
  • Processing Fees: 0.50%

Apply Now to Get Best Home Loan Offer

Error: Please select loan amount
Digit Only
Note: It will help you to get best loan offers
Error: Please enter valid Rate of Interest
Digit Only
Note: Income is required to check your loan amount eligibility.
Error: Please valid monthly income
Error: Please select current city
0 / 10 Digits +91
Note: We may verify this number later using OTP.
Error: Please enter valid Mobile Number
0 / 6 Digits
Error: This is mandatory. We need to check availability of service in your area
City: Delhi
Error: Enter a valid Full Name
Error: Enter a valid Email Address
Error: Date of Birth is required
Error: PAN is required

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 19/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 19/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :19/01/2020

More

There is some technical issue. Please try again later.

By submitting this form, I agree to Terms of Use

*Offers are from Paisabazaar's partner Banks & NBFCs.

OTP Verification

Verify your mobile

Please enter the OTP we sent via SMS

Didn’t receive your OTP? Send it again
हिंदी में पढ़े
Updated: 06-01-2020 07:13:17 AM
Canara Bank Home Loan Details Jan 2020
Interest Rate8.10% – 10.05%
Loan AmountDepends on applicant’s profile
Loan TenureUp to 30 years
Processing Charges0.5% of loan amt. (Min. Rs. 1,500 & Max. of Rs. 10,000) + GST

Note: The figures given in the table are indicative and are subject to change as per the loan scheme at Canara Bank or a change in RBI policy, without prior information.

Canara Bank home loan interest rates start from 8.10%, with loan tenure extending up to 30 years. The processing fee stands at 0.50% of the loan amount. Both salaried and self-employed individuals can apply for Canara Bank home loan that can be availed for home purchase, plot purchase, home construction and home renovation.

Canara Bank Home Loan - Features & Benefits
Canara Bank Home Loan Interest Rates
Canara Bank Home Loan Processing Fees & Other Charges
Canara Bank Home Loan EMI Calculator
Canara Bank Home Loan Eligibility
Canara Bank Home Loan Documents
Canara Bank Home Loan Schemes
How to Apply for Canara Bank Home Loan Online
Canara Bank Home Loan Customer Care
Canara Bank FAQs

Canara Bank Home Loan - Features & Benefits

Canara Bank Home Loan Interest Rates

Canara bank home loan interest rates are linked to Repo Linked Lending Rate (RLLR). Currently, RLLR of the bank is 8.05% w.e.f. 07.11.2019. For existing Canara Bank customers, the bank’s current 1-year Marginal Cost of funds based Lending Rate (MCLR) is 8.35%, effective from November 7, 2019. The current Canara Bank housing loan interest rate (linked to RLLR) is 8.10% onwards.

Compare Canara Bank Home Loan Rates for Various Loan Schemes

Loan SchemesRLLR linked Interest Rates (p.a.)
Canara Bank Housing Loan8.10% – 10.05%
Home Improvement Loan10.55% – 12.60%
Canara Site Loan9.10% – 10.05%
Canara Home Loan Plus – Term Loan8.60% – 10.65%
Canara Home Loan Plus – Overdraft9.10% – 11.15%

Canara Bank Home Loan Processing Fees & Other Charges

ParticularsApplicable Charges
Processing Fees0.50% (Min Rs. 1,500 and Max. Rs. 10,000)
Prepayment ChargesFor floating housing loan rate: No prepayment charges for floating rate housing loans
For fixed housing loan rate: 2% on the outstanding liability in case of takeover of the loan by other bank / FI
Copy of loan paper / documentsRs. 10 per page with a minimum of Rs. 100 in addition to OPE charges, if any
Solvency CertificateRs. 300 per lakh (Min. Rs. 1,500 & Max. Rs. 25,000)
Capacity/ Capability CertificateRs. 300 per lakh (Min. Rs. 1,500 & Max. Rs. 25,000)

Note: All the charges mentioned are exclusive of GST and other applicable taxes. All the charges mentioned are subject to change.

Canara Bank Home Loan EMI Calculator

Before applying for Canara Bank Home Loan, calculate home loan EMI using Paisabazaar’s Home Loan EMI Calculator. It helps to know the estimated value of the Home Loan EMI based on the amount to be borrowed, loan tenure and applicable Canara Bank home loan rate of interest. Home loan calculator is easy to use and gives accurate results instantly. To calculate your home loan EMI, click here.

Canara Bank home loan EMI depends on the borrowed principal amount, repayment tenure and the applicable rate of interest. The following table illustrates variations in home loan EMIs with the change in loan amount and loan tenure. Canara Bank home loan interest rate considered here is 8.10%.

Loan AmountEMIs as per Different Loan Tenures
15 years20 years30 years
Rs. 40 lakhRs. 38,457Rs. 33,707Rs. 29,630
Rs. 60 lakhRs. 57,686Rs. 50,560Rs. 44,445
Rs. 80 lakhRs. 76,915Rs. 67,414Rs. 59,260
Rs. 1 croreRs. 96,143Rs. 84,267Rs. 74,075

In the above table, home loan EMIs increase with an increase in loan amount and decrease when the loan tenure increases. Here, longer tenure or repayment period reduces monthly instalments, but it increases the overall interest payout. Hence, choose the loan tenure carefully and borrow only the required amount.

Canara Bank Home Loan Eligibility

Canara Bank offers a wide variety of home loan schemes, each having its own eligibility criteria. However, a few common requirements are as follows:

Borrower ProfileIndian Residents/Non-Resident Indians (NRIs)
Employment TypeSalaried/Self Employed
Age18 to 70 years
Credit Score750 and above
IncomeVaries from case to case
Work ExperienceAt least 3 years

Canara Bank Home Loan Documents

Canara Bank Home Loan Documents for Salaried

  • Duly filled and signed home loan application form
  • Two passport size photographs
  • Proof of identity
  • Proof of age
  • Proof of address
  • PAN card (photocopy)
  • Latest 6 months’ salary slips
  • Bank statement of salary account for past 6 months
  • Proof of confirmed service of 3 years
  • Property documents
  • Processing fee cheque

Canara Bank Home Loan Documents for Self Employed

  • Duly filled and signed home loan application form
  • Two passport size photographs
  • Proof of identity
  • Proof of age
  • Proof of address
  • PAN card (photocopy)
  • Balance sheet and profit & Loss Account statements for last 3 years
  • Income tax returns for last 3 years
  • Brief note on the nature of business, year of establishment, present banker, form of organisation, capacity in which applicant is engaged and net worth of the applicant
  • Bank statement of all bank accounts
  • Business license, wherever applicable
  • Property documents
  • Processing fee cheque

Note: Besides the listed documents, you might have to submit other documents as required by the bank.

Canara Bank Home Loan Schemes

Canara Bank Housing LoanHome Improvement LoanCanara Site Loan
Housing Loan to AgriculturistsHome Loan for NRIsCANYAR – Yuva Awas Rin

Compare Canara Bank Home Loan Offers

1. Canara Bank Housing Loan

Canara Bank Housing Loan can be availed for the purchase of ready built property, under construction property or pre-owned homes, construction of a house, the extension of the house, repair and renovation.

Borrower TypeResident Indians
Employment TypeSalaried and Non-Salaried Individuals
Loan AmountDepends on applicant’s profile
Interest Rate8.10% – 10.05%
Loan TenureUp to 30 years

2. Canara Bank Home Improvement Loan

Canara Bank Home Improvement Loan provides a packaged financial assistance to individuals for furnishing houses/flats at incredibly low rates.

Borrower TypeResident Indians and NRIs
Employment TypeSalaried and Non-Salaried Individuals
Loan AmountDepends on applicant’s profile
Interest Rate10.55% – 12.60%
Loan TenureUp to 5 years
Income· Salaried individuals should have a minimum monthly Net Take Home (NTH) salary of 25% of their gross salary or Rs. 2,000 after meeting the loan instalments for the proposed loan
· Non-salaried individuals should have a minimum annual income of Rs. 50,000 to be evidenced by Income Tax assessment order/return

3. Canara Site Loan

Canara Site Loan is for individuals to help them buy housing sites and construct a house on it.

Borrower TypeResident Indians and NRIs
Employment TypeSalaried and Non-Salaried Individuals
Loan Amount4 years gross annual salary or 75% of the cost of the site/guideline value, whichever is less
Interest Rate9.10% – 10.05%
Loan TenureUp to 10 years or maximum period permitted by the allotment agency for construction of house, whichever is earlier
Income· Salaried individuals should have a minimum monthly net take home salary of 25% of their gross salary or Rs. 2,000 after meeting the loan instalments for the proposed loan
· Non-salaried individuals should have a minimum annual income of Rs. 50,000 to be evidenced by Income Tax assessment order/return.
Age LimitLess than 60 years for loan application
Up to 65 years at the time of loan closure

4. Canara Bank Housing Loan to Agriculturists

Canara Bank Housing Loan to Agriculturists is for agriculturists, planters, horticulturists and other individuals engaged in similar activities. Through this loan scheme, they can buy or construct house/flat, buy site for home house construction.

Employment TypeAgriculturists, Persons engaged in allied activities like Diary/Poultry, Planters, Horticulturists etc.
Loan Amount· 4 times of average annual income, or
· Maximum Rs.15 lakh for repairs/renovations, or
· NTH of 25% with a minimum amount of Rs.10,000 after meeting the EMI of proposed loan
Interest RateDepends on applicant’s credit profile
Loan TenureUp to 30 years
Eligibility· All agriculturists owning and cultivating agricultural land of more than 5 acres of irrigated/10 acres of dry land
· 2 years of satisfactory dealing
· Agriculturists engaged in allied activities – minimum gross annual income – Rs.5 lakh
· Age limit should be up to 70 years at the time of loan closure

5. Canara Bank Home Loan for NRIs

Canara Bank Home Loan for NRIs allows Non-Resident Indians get financial support when investing in properties in India. The loan scheme can also be used to repair, renovate, expand and upgrade the existing unit in India.

Borrower TypeNRIs with valid Indian Passport & Persons of Indian Origin (PIOs) with valid foreign passport
Loan Amount· Maximum loan amount shall be 4 times of annual salary/income with NTH of 40% after proposed EMI
· Selectively higher quantum of loan up to 5 years of gross annual salary/ income is also permitted
· Rs.15 lakh for repairs/renovation
Interest RateDepends on applicant’s credit profile
Loan TenureUp to 30 years
Eligibility· Applicant should have NRI status of 3 years
· Steady income source and minimum employment abroad of 2 years with valid job contract/work permit
· Age limit should be between 21 to 60 years

6. CANYAR – Yuva Awas Rin

Canara Bank Yuva Awas Rin is for young salaried individuals who want to buy or construct a house/site and to repair, renovate, expand and upgrade the existing house.

Employment TypeSalaried Individuals
Loan Amount6 years of net salary, subject to NTH/Margin norms
Up to 15 lakh for repairs/renovations
Interest RateDepends on applicant’s credit profile
Loan TenureUp to 30 years
IncomeMinimum Net Take Home salary (NTH) of the borrower after meeting the proposed EMI should not be less than 30% with a minimum of Rs. 10,000
Age Limit21 – 45 years
Work ExperienceAt least 2 years of confirmed service

How to Apply for Canara Bank Home Loan Online

Apply for Canara Bank Home Loan online at Paisabazaar.com by following these steps:

  • Click here to start with the home loan application process
  • Fill up the required fields and accept the terms and agree to the given terms & conditions
  • Enter your personal and home loan related details to proceed further
  • A few eligible loan options will appear. Compare and apply for a home loan which suits your requirements the best.

Canara Bank Home Loan Customer Care

You can contact Canara Bank through call anytime except on national holidays. You can also visit the nearest branch of Canara Bank to get your queries and issues resolved. The Canara Bank toll-free customer number is: 1800 425 0018

Canara Bank FAQs

What are the purposes for which Canara Bank Housing Loan is sanctioned?

Customers can avail Canara Bank Home Loan for the following purposes:

  • To buy ready built house / flat
  • To construct a house / flat
  • To buy a site and construction of a house thereon
  • To expand the existing unit
  • To repair and renovate the existing unit, subject to ceiling of Rs.15 lakh
  • For home loan balance transfer

What is the margin required to be borne by the applicant?

Amount of LoanNew House/FlatOld House/Flat
Upto 10 Years OldMore than 10 Years Old
Up to Rs. 20 lakh10%20%25%
Above Rs. 20 lakh & Up to Rs. 75 lakh20%20%25%
Above Rs. 75 lakh25%25%25%

In case of repairs and renewals, expansion of existing unit, upgradation and creation of additional amenities, there is a uniform margin of 25%. Also in case of 2nd and subsequent house, margin is 25%.

What are the repayment terms?

The entire loan shall be repaid in a maximum period of 30 years from the date of disbursement or the borrower attaining the age of 70 years, whichever is earlier. In the case of purchase of ready built house/flat, the repayment should start one month after the date of disbursement. In the case of construction of a house/flat, repayment should start one month after the completion of the house/flat. However, the maximum repayment holiday cannot exceed 18 months from the date of the first disbursement.

Is there a provision of life insurance for the home loan borrower?

Yes, the bank has a life insurance cover for housing loan customers under Creditors Protection Plan of M/s. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited – Group Insurance.

Did you find this article helpful? Rate it.

Menu