Canara Bank Personal Loan

Canara Bank Personal Loan is offered @ 9.70% p.a. onwards for loan amount of up to Rs 10 lakh for...

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Google Play Store

4.5_/5

15.5L Reviews

5.7cr+Satisfied Customers

65+Lending Partners

₹65k Cr+Loans Disbursed

Collateral-free Loans

Curated offers from 30+ lenders

No Prepayment Penalty

Money in your account instantly

Quick Personal Loan Approval

Offers ranked according to eligibility

Quick Personal Loan Disbursal

Hassle-free & paperless

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Rate of Interest (Yearly %)

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

ICICI Bank

100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest11% - 13%

Tenure upto1-5 Years

Processing FeeUpto 2%

Axis Bank

Low Processing fee

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

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Canara Bank Personal Loan Highlights

Canara Bank Personal Loan Interest Rates

Canara Bank Personal Loan Floating Interest Rates

Canara Bank Personal Loan Fixed Interest Rates

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

About Canara Bank Personal Loan

Canara Bank offers Canara Budget personal loan scheme to meet the personal requirements of the applicants at competitive interest rates.
Prospective borrowers can apply online with quick loan approval and disbursal.
The lender offers a loan amount of up to Rs. 30 lakh with flexible repayment tenure.
No prepayment penalty is levied on the borrower at the time of prepayment.
General pensioners and family pensioners drawing their pension from Canara Bank can also avail personal loans from Canara Bank.

Canara Bank Personal Loan Highlights

Interest Rate: 9.70% -15.15% p.a.
Loan Amount: Up to Rs. 30 lakh
Loan Tenure: Up to 7 years
Processing Fees: Up to 0.50% of the loan amount (Rs 1,000 to Rs 5,000)- 50% off on processing fee

Rates as of 9th March 2026

Canara Bank Personal Loan Interest Rates

Canara Bank Personal Loan interest rates start from 9.70% p.a. Canara Bank sets its personal loan interest rates based on the types of its personal loan schemes and the applicant’s salary account relationship with the bank. While the cut-off credit score for availing Canara Bank Personal loan has not been disclosed, the bank has mentioned the interest rate differentiation based on the credit score-based risk grade for its personal loan applicants.

Canara Bank Floating Interest Rates

Canara Bank- Individual

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	12.65%
CRG:2	12.70%
CRG:3	13.20%
CRG:4	14.70%

Canara Budget- Prime (with salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	9.70%
CRG:2	9.70%
CRG:3	9.70%
CRG:4	14.70%

Canara Budget- Prime (without salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	10.70%
CRG:2	10.70%
CRG:3	10.70%
CRG:4	14.70%

Canara Budget- Delight (with salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	10.70%
CRG:2	10.70%
CRG:3	10.70%
CRG:4	Not Eligible

Canara Budget Special Package

Relationship with the bank	Interest Rates (p.a.)
With salary tie-up	12.40%
Without salary tie-up	13.40%

Canara Pension Loan

Type of Pensioners	Interest Rates (p.a.)
General Public	10.75%

Canara Bank Personal Loan Fixed Interest Rates

Canara Budget- Individual

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	13.10%
CRG:2	13.15%
CRG:3	13.65%
CRG:4	15.15%

Canara Budget- Prime (with salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	10.15%
CRG:2	10.15%
CRG:3	10.15%
CRG:4	15.15%

Canara Budget- Prime (without salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	11.15%
CRG:2	11.15%
CRG:3	11.15%
CRG:4	15.15%

Canara Budget- Delight (with salary tie-up)

Credit Score-Based Risk Grade	Interest Rates (p.a.)
CRG:1	11.15%
CRG:2	11.15%
CRG:3	11.15%
CRG:4	Not eligible for the loan

Canara Pension Loan

Type of Pensioners	Rate of Interest (p.a.)
General Public	11.25%

Canara Bank Personal Loan Processing Fees and Charges

Processing Charges:

Scheme	Processing Charges
Canara Budget	Up to 0.50% of the loan amount (Rs 1,000 to Rs 5,000)- 50% off on processing fee
Canara Pension	NIL

Prepayment Charges:
Canara Bank does not charge any prepayment charges from its personal loan applicants. There are no restrictions on the prepayment of Canara Bank Personal Loan.

Compare the processing fees for personal loan levied by top personal loan lenders

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Types of Personal Loans offered by Canara Bank

Canara Ready Cash

Purpose: Canara Ready Cash is a pre-approved personal loan scheme offered to existing salaried customers of Canara Bank to meet their personal requirements other than speculation.

Loan Amount: Rs 50,000-Rs 10 lakh

Tenure: 1 year to 5 years

Canara Heal Healthcare Loan

Purpose: Canara Bank offers Canara Heal Healthcare scheme to its existing as well as new customers for financing the hospital expenses while settling claims of self or dependents.

Loan Amount: Rs 1 lakh- Rs 5 lakh

Tenure: 1-3 years

Canara Budget

Purpose: Personal loan for government/PSU employees, teaching professionals of top institutes/universities and employees of top private sector companies

Loan Amount:

6 months’ gross salary or up to Rs 3 lakh, whichever is lower
Higher quantum considered in selective cases

Tenure: Up to 5 years

Processing Fees: 0.5% of the loan amount, subject to Rs 1,000- Rs 5,000

Canara Pension- General Public

Purpose: Canara Bank offers pension loan to meet the personal needs of pensioners

Loan Amount and Tenure:

For General Public Pensioners

Age at the time of Loan sanction	Max Loan Amount (18 months Pension or)	Repayment Period	Age at the time of full Repayment
Below 70 years	Rs 10 lakhs	Up to 5 years	Up to 75 years
70 – 75 years	Rs 5 lakhs	Up to 3 years	Up to 78 years

For Defence Pensioners

Age at the time of Loan sanction	Max Loan Amount (24 months Pension or)	Repayment Period	Age at the time of full Repayment
Below 50 years	Rs 10 lakhs	Up to 7 years	57 years
50 – 60 years	Rs 8 lakhs	Up to 5 years	65 years
60 – 70 years	Rs 6 lakhs	Up to 4 years	74 years
70 – 75 years	Rs 5 lakhs	Up to 2 years	77 years

For Family Pensioners (General/Defence Pensioners)

Age at the time of Loan sanction	Max Loan Amount (18 months Pension or)	Repayment Period	Age at the time of full Repayment
Below 70 years	Rs 5 lakhs	Up to 5 years	75 years
70 – 75 years	Rs 3 lakhs	Up to 3 years	78 years

Processing Fees: NIL

Eligibility Criteria for Canara Bank Personal Loan

Canara Bank Personal Loan eligibility is assessed on the basis of the employer’s profile and job profile of its person loan applicants. The personal loan eligibility criteria set by Canara Bank is mentioned below:

Canara Ready Cash

The existing salaried individuals of Canara Bank are eligible for Canara Ready Cash Loan.
The minimum age of the applicant at the time of loan application should be 21 years and the maximum age at the time of loan maturity should be 55 years.
Applicant should be earning a minimum monthly income of Rs 50,000.
Applicants having a minimum credit score of 700 and above have higher chances of availing Canara Ready Cash Loans.
The EMI/NMI ratio should not be less than 25% or Rs 1,000 per month after deducting the existing EMIs or EMIs of the proposed loans.

Canara Heal Healthcare Loan

The existing salaried individuals, non-salaried individuals and professionals are eligible for Canara Heal Healthcare Loans.
New salaried customers are only eligible for this loan scheme.
The minimum age of the applicant should be 21 years at the time of loan application and 55 years at the time of loan maturity.
The minimum monthly income of salaried applicants should be Rs 50,000.
Non salaried applicants should have an average balance of Rs 50,000 per month to be maintained in the past 6 months.
The minimum Net Take Home salary of the borrower should not be less than Rs 20,000 per month after deducting the existing EMIs and EMIs of the proposed loan.

Canara Budget

Central/State Government employees
Employees of reputed PSUs/Joint Stock Companies
Reputed Corporates/Public Limited Companies/Private Institutions/IT/BT Company employees
Assistant Professors/Lecturers/College Professors/Professors of Research Institute and Universities

Canara Pension – General Public

All State/Central Government Pensioners
Pensioners of Public Sector Undertakings/Corporate Pensioners
Pensioners of Government Sector Undertakings
Family pensioners of all the above categories

Know more about Personal Loan Eligibility Criteria set by Various Lenders

Documents Required for Canara Bank Personal Loan

Canara Budget

Completely filled out loan application with 2 passport size photographs
Pronote/Pronote Cover Letter
Recent salary certificate and Form 16/ITR/ITAO for last 3 years
Co-obligation

Canara Pension (General Public)

Loan application with 2 passport size photographs
Delivery letter to DPN
Co-obligation, unless waived

Know more about Canara Bank Personal Loan Documents Required

Why Apply for a Personal Loan at Paisabazaar?

Top Offers on a Single Platform: Paisabazaar has partnered with more than 30 lenders including top banks, NBFCs, Fintechs and offers access to the best available personal loan offers from multiple lenders on a single platform
Compare and Choose: With Paisabazaar you can compare personal loan interest rates and other key features such as other key fees and charges, disbursal offered by different banks and NBFCs and select the most suitable option for yourself
Chances of Approval and Personalized Offers: Paisabazaar lets you have access to personal loan offers from multiple lenders listed as per your Chances of Approval based on your credit score and other eligibility factors. This feature helps you select the loan offer that has the highest chances of approval
Complete Guidance & Assistance: The team of experts at Paisabazaar offers unbiased advice and complete guidance at every step to help you choose the most appropriate option for yourself. The customer-friendly team offers end-to-end assistance to offer you a seamless loan experience
Pre-Approved Offers: Once you have registered yourself with Paisabazaar, you can get access to personalized pre-approved loan offers from different lenders, provided you have a healthy credit history. These instant and pre-approved personal loan offers usually come with low-interest rates, minimal or no processing fee and documentation, etc.

Paperless Process: Paisabazaar is a digital platform that lets you carry out the entire loan process online

Document Pickup: Paisabazaar offers customers the option to get their documents picked from their doorstep without any additional charges in case physical documentation is required at any step

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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FAQs

Consumers can apply for a Canara Bank Personal Loan through the bank’s official website or by visiting its branches. Additionally, prospective borrowers should also visit online financial marketplaces like Paisabazaar to compare personal loan interest rates and other loan features offered by other lenders.

The personal loan interest rate at Canara Bank ranges from 9.70% to 15.15% p.a.

Most lenders, including Canara Bank, take 2-7 working days to disburse personal loans from the date of making a personal loan application. However, Canara Bank offers online instant personal loans to its salary account holders for loan amounts of up to Rs 1 lakh. Other lenders that provide pre-approved instant personal loans to select customers include HDFC Bank, Axis Bank, Bajaj Finserv and ICICI Bank.

Yes, Canara Bank provides online instant personal loans to salary account holders for loan amounts of Rs 10,000 to Rs 1 lakh.

Canara Bank has not specified any minimum salary requirement for the applicants. However, a minimum monthly income of Rs 15,000 would be considered to avail personal loan from Canara Bank.

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