Canara Bank is a public sector bank that enjoys a strong reputation and a loyal customer base. The bank offers a wide range of financial solutions for both retail customers as well as business users. Among its many products are savings products, current accounts, fixed deposits, SME loans, home loans, car loans, education loans and personal loans, among others.
With personal loan as one of its major products, the bank also offers a variety of other loans to its customers. These loans can be availed at low interest rates and paid back through EMIs over a period of time. The personal loans from Canara Bank, just like other lending institutions, can be used for multiple purposes such as education, medical expenses, weddings, travel, etc. Canara Bank has classified its personal loans and broadly categorised them as Canara Budget, Canara Pension (senior citizen’s loan), Teachers Loan, Canara Cash and Canara Consumer Loan. The applicant can opt for the loan that best suits their needs, based on their eligibility criteria.