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Canara Bank Personal Loan Interest Rate

Canara Bank personal loan interest rates start from 9.70% p.a. onwards. For Canara Pension Loans, the personal loan interest rate offered is 10.75% p.a.
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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 Fee6,500
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 Interest Rate Highlights

SL no. Loan Scheme Floating Rate Fixed Rate
1. Canara Budget- Individual 12.65% - 14.70% p.a. 13.10% - 15.15% p.a.
2. Canara Prime (with salary tie-up) 9.70% - 14.70% p.a. 10.15% - 15.15% p.a.
3. Canara Prime (without salary tie-up) 10.70% - 14.70% p.a. 11.15% - 15.15% p.a.
4. Canara Budget- Delight (with salary tie-up) 10.70% p.a. 11.15% p.a.
5. Canara Pension Loan 10.75% p.a. 11.25% p.a.

Personal Loan Interest Rates by Other Banks/NBFCs

Bank/NBFCInterest Rates (% p.a.)
Aditya Birla Finance10.99 onwards
Axis Bank9.99 onwards*
Bank of Baroda10.15-18.00
Bajaj Finance Limited10.00-30.00
Bank of India10.85-16.15
Bank of Maharashtra8.75-13.55
Canara Bank9.70-15.15
Central Bank of India9.85-11.65
Cholamandalam IFC10.00-28.00
Dhani Loans & Services Ltd.13.99 onwards
Federal Bank12.00 - 22.50*
HDB Financial Services10.00 - 35.00
HDFC Bank9.99 onwards
Hero FincorpUp to 30*
HSBC Bank9.75 onwards
ICICI Bank9.99 onwards
IDFC FIRST Bank9.99 onwards
IIFL Finance12.00 - 28.00
Indian Overseas Bank10.25 onwards
IndusInd Bank10.35 onwards*
Kotak Mahindra Bank9.98 onwards*
L&T Finance11.00 onwards
Mahindra Finance8.00 - 25.00
Mannapuram Finance18.00 - 24.00
Moneyview14.00 onwards
Muthoot Finance13.50 onwards
Piramal Finance12.14 onwards
Poonawalla Fincorp9.99 onwards
Punjab & Sind Bank9.60-13.85
Punjab National Bank10.25-16.80
Shriram Finance11.00 onwards
Tata Capital10.99 onwards
UCO Bank9.95 - 13.20
Union Bank of India8.75 - 12.55
Note: Rates as of 1st May 2026

Factors affecting Personal Loan Interest Rates

Credit Score

Canara Bank has not specified the cut-off credit score for availing Canara Bank Personal Loans. However, it has specified its personal loan interest rate differentiation based on the credit risk grade. The applicants falling under the lowest credit risk grade are offered personal loans at lower interest rates compared to those falling under higher credit risk grades.

Lenders usually consider applicants having credit scores of 750 and above for availing personal loans at lower interest rates. Thus, having a higher credit score might help the applicants in availing low interest rate personal loan  from Canara Bank or other lenders.

Employer’s Profile

Banks and NBFCs usually consider the employer’s profile while evaluating the personal loan applications. Lenders usually offer lower interest rates to salaried applicants as compared to self-employed. Government employees are also offered preferential interest rates as compared to private employees due to their higher job security and income stability.

For example, Canara Bank has set lower interest rates for applicants availing Teachers’ Loan as compared to those availing other Canara Bank personal loan schemes.

Monthly Income

Canara Bank has not mentioned the minimum monthly income required for availing personal loans. However, the bank has mentioned the EMI/NMI ratio to be at least 30% of the gross salary or Rs 10,000 for availing Teachers’ Loan from Canara Bank. Lenders usually offer personal loans to applicants having a minimum monthly income of Rs 15,000.

Existing Relationship with the Lender

Many lenders offer preferential interest rates to applicants having an existing lending/deposit account with them. Therefore, the applicants planning to avail personal loans should prefer contacting the banks and NBFCs with whom they already have a lending or deposit account.

For example, Canara Bank Personal Loan Interest Rates are lower for the applicants having salary account with bank as compared to those not having salary account with the bank.

Tips for Availing Personal Loan at Lower Interest Rates

  • Reach out to lenders with whom you already have a deposit/lending account
  • Check interest rate concessions offered by various lenders during festive seasons
  • Visit online fintech platforms and compare the personal loan interest rates of various lenders
  • Maintain a credit score of 750 and above
  • Check the pre-approved personal loan offers provided by different lenders

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How Can I Apply for a Personal Loan Online?

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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

What is the current Canara Bank Personal Loan interest rate?

Canara Bank currently offers personal loans at interest rates starting from 9.70% p.a., depending on the applicant’s credit risk grade, loan amount, type of personal loan scheme and applicant’s existing relationship with the lender.

How to calculate Canara Bank Personal Loan interest cost?

Canara Bank Personal Loan interest cost can be calculated with the help of Canara Bank Personal Loan EMI Calculator. Applicants can enter their loan tenure, loan amount and interest rate in the EMI calculator and get the total EMIs and total interest cost payable throughout the loan tenure.

Are Canara Bank Personal Loan offered at fixed or floating interest rates?

Canara Bank offers personal loans at floating interest rates. Floating interest rates are beneficial for the borrowers when the current personal loan interest rates are quite high and a downward trend is estimated in future. However, opting for fixed personal loan interest rates provides higher certainty to the borrowers in term of budgeting and interest cost due to constant rates throughout the tenure.

How to get lowest personal loan interest rates from Canara Bank?

Lenders usually offer lowest personal loan interest rates to applicants having the best credit profile. In case of Canara Bank Personal Loan, the lowest interest rates are offered through the Canara Budget Prime Personal Loan scheme to Central/State Government employees, PSUs employees and defence and paramilitary personnel having their salary accounts with Canara Bank and falling under the bank’s CRG (credit risk grade) 1, 2 and 3.

Does Canara Bank offer special discounts or offers on its personal loan interest rate?

Canara Bank has not specified any special discounts or offers on its personal loan interest rates. Applicants can get in touch with the bank directly to check whether they qualify for discounts/concessions in personal loan interest rates.

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I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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