Canara Suraksha Personal Loan scheme aims to offer individual borrowers immediate financial assistance for Covid-19 treatment during admission or post-discharge. The personal loan can be availed for amount ranging from Rs. 25,000 to Rs. 5 lakh and can be repaid with a tenure ranging up to 60 months. This Canara Bank personal loan scheme is available only till September 30, 2021. Key aspects relating to the Canara Suraksha personal loan scheme are discussed in detail below:
Features of Canara Suraksha Personal Loan
- Loan Amount: Individuals can avail a loan amount ranging between Rs. 25,000 to Rs. 5 lakh under the scheme for their Covid-19 treatment or the treatment of their family members, provided they meet the bank’s eligibility criteria.
- Nil Processing Fee: The Canara Suraksha personal loan scheme comes with zero processing charges.
- Easy Application & Quick Disbursal: The loan can be easily availed online with minimal documentation and is disbursed quickly.
- Repayment Tenure: The Canara Suraksha personal loan scheme comes with a repayment tenure ranging up to 60 months (5 years), including a moratorium period of 6 months.
- Validity: The scheme is valid up to September 30, 2021.
Canara Suraksha Personal Loan Interest Rates
While no specific interest has been mentioned yet, Canara Suraksha personal loan interest rate may vary on a case by case basis depending upon an individual applicant profile.
Eligibility Criteria
- Customers who have an existing home loan or retail mortgage loan are eligible to avail a loan up to Rs. 5 lakh
- Customers who have an existing personal loan, car loan or pension loan can avail a loan amount ranging up to Rs. 1 lakh
Documents Required
While no specific documentation requirements have been mentioned yet, Canara Bank may specify documents at the time of loan application on a case by case basis.
Fees and Other Charges
Some key fees and charges associated with Canara Suraksha Personal Loan are as follows:
| Processing Fees | Nil |
FAQs
Q1. Who can avail a Canara Suraksha personal loan?
All customers who have an existing home loan, retail mortgage loan, personal loan, car loan or pension loan from Canara Bank are eligible to apply for the Canara Suraksha personal loan. However, additional criteria as deemed necessary by the bank based on the individual applicant’s profile may be applicable.
Q2. For what purpose can the Canara Suraksha personal loan be used?
Eligible borrowers can avail the scheme to deal with Covid-19 treatment-related expenses during admission or post-discharge. The scheme seeks to offer relief through immediate financial assistance to both Covid affected customers as well as their family members.
Q3. What is the maximum repayment tenure for Canara Suraksha personal loan?
You can repay your Canara Suraksha personal loan in up to 60 months, including a moratorium period of 6 months.
Q4. What is the minimum and maximum loan amount available through Canara Suraksha personal loan?
Borrowers can avail personal loans ranging between Rs. 25,000 to Rs. 5 lakh under the Canara Suraksha Personal Loan Scheme.