|Interest Rate||6.90% onwards|
|Loan Tenure||Up to 30 Years|
|Loan Amount||As per LTV|
Top Up: Up to Rs 50 Lakh
|Processing Fee||Up to 0.5% of the loan amount |
(Rs 1500 - Rs 10000) + GST
|Prepayment Fee||NIL for floating home loans|
Additional Info: Also check Canara Bank Balance Check Number
To qualify for Canara Bank Home Loan Balance Transfer, you must meet following eligibility criteria:
Also Check - Loan Eligibility for Home Loan
Applicable rate of interest for Home Loan balance transfer customers are as under:
|Type of Home Loan||Rate of Interest (% p.a.)|
|Canara Housing Loan for Purchase/ Construction/ Extension/Repair or renovation of home||6.90% to 8.90%|
|Canara Home Improvement Loan||9.40 - 11.5 %|
|Canara Home Loan Plus||7.45 - 9.50 %|
|Canara Home Loan Secure||7.00 % onwards|
|Canara Mortgage Loan||9.95 - 12.00%|
|Canara Site Loan||7.95% - 9.00%|
Also Check - Canara Bank Home Loan Interest Rates
There are no hidden charges involved.
Canara Bank Home Loan processing fee is nominal at 0.50% (Min Rs.1500/- and Max. Rs.10,000/-).
There are NIL Prepayment charges for floating loans.
Additional Info: Also get Canfin Home Loan
To avail a balance transfer, you will require following additional documents.
Home Loan documentation
Also Check - Documents Required for Home Loan
It is completely hassle free to transfer balance of your home loan to Canara Bank. Follow steps as discussed under-
For your queries about home loan balance transfer, call Canara Bank on any of the following numbers:
Non Toll Free Numbers: (for overseas calls)
Apply for Home Loan Balance Transfer online instantly and get lower interest rate starting at 8.50% p.a. Get better terms and services. You can also avail instant top up loan facility during balance transfer.
Home Loan Balance Transfer allows borrowers to switch their lender and refinance home loan at lower interest rate. By opting for a home loan transfer, you can reset loan terms and avail one or many of the benefits such as lowered EMIs, extended tenure and top up on loan amount.
Opt for home loan balance transfer:
Besides these reasons, make sure the residual tenure of your loan is more than 5 years.
The property involved will be used as collateral for Canara Bank home loan balance transfer.
The lowest rate of interest for Canara Bank home loan balance transfer is 6.90% p.a. Women applicants are eligible for 5 bps concession.
The processing fee for Canara Bank home loan balance transfer is 0.50% of loan amount, subject to minimum of Rs 1,500 and maximum of Rs 10,000.
The bank charges NIL prepayment fees for floating interest rate loans. However, 2% of the outstanding amount is levied for fixed interest rate loans transfer or foreclosure.
Canara bank finances up to:
For salaried individual - 4 times gross annual salary as per the last ITR
For self-employed - 4 times of average gross annual income of all the four years, in case of individuals engaged in business
Selectively, loan up to 5 years' gross salary/ income is also sanctioned for select cases.
Max home loans up to 15.00 lakh are approved for repairs and renovations.