Canara Bank Home Loan

Additional Info: Also check Canara Bank Balance Check Number

• Canara Bank Home Loan interest rates start from 8.40% to 11.25% p.a.
• Option of extended tenure up to 30 years.
• Nominal processing fee ranging from Rs 1500 to Rs 10000 + GST.
• Lowest Canara Bank EMI starts at Rs. 762 per lakh.
• Canara Bank Home loans are linked to RLLR i.e. ROI changes according to repo rate.

Additional Info: Also check Syndicate Bank Balance Check Number

Current Canara Bank Home Loan Interest Rates are linked to Repo Rates. The effective rate of interest varies as per applicant’s risk profile, repayment capacity and credit score. Women applicants get 5 bps lower home loan interest rate from other applicants.

Here is the Rate Card for Canara Bank Home Loan:

LOAN UPTO Rs. 50 LAKH

LOAN ABOVE RS. 50 LAKH TO RS. 1 Cr

LOAN ABOVE RS 1 Cr TO RS. 2.5 Cr

LOAN ABOVE RS. 2.5 Cr

* RLLR = 9.25%

*In case of Commercial Real Estate (3rd & subsequent home) the applicable interest rate shall be +0.50%

Additional Info: Also check Canara Bank Loan Against Property

Canara Bank serves a diverse customer base. The broad eligibility criteria to apply for Canara Bank Home Loans are:

Age: 21 years to 70 years

Status:  Resident Indian (RI) /Non Resident India (NRI)

Employment: Salaried/ Self-employed/ Business owners/ Professionals

Others: 

• Good credit score
• Income stability
• Proof of income continuity

Additional Info: Also check Canara Bank Home Loan Eligibility

Here is the list of Canara Bank Home Loan documents: 

• Duly filled Canara Bank Home Loan Application 
• 2 passport size photos of all applicants/ guarantors
• Sale Deed
• Agreement for Sale
• Copy of the approved plan for proposed construction or extension
• Detailed cost estimate or valuation report from Bank’s empaneled Chartered Engineer or Architect
• Allotment letter of Co-operative Housing Society/ Apartment Owners Association/ Housing Board/ NOC from the Society/ Association /Builders /Housing Board
• Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata & permission for mortgage, as required
• Salaried: Salary Certificate/ Form No.16 
• Self-employed: 
  • IT Returns for past 3 assessment years
  • Balance Sheet and P&L Account for past 3 years
  • Brief business plan expressing nature of business, year of establishment, type of organization etc.

Additional Info: Also check Canara Bank Home Loan Balance Transfer

Canara Bank Home Loan processing fee is nominal at 0.50% of the loan amount. The minimum processing charge will be Rs.1500 and the maximum fee will be Rs.10000.

Here is the list of fees & charges for Canara Bank Housing Finance Loan:

Additional Info: Also check Canara Bank Personal Loan

Canara Bank Housing Loan

• Canara home loan for purchase, construction or renovation of a housing unit/ plot. 
• Both salaried & self-employed can apply for Canara Bank Housing Loan.
• Loan amount & terms are customised according to applicant’s needs & eligibility.
• Canara Bank Housing Loan Interest Rates start at 8.40% to 11.25% p.a.
• Maximum tenure offered will be up to 30 years.
• Apply online for fastest processing.

Canara Bank Home Improvement Loan

• Canara home loan scheme for funding home furnishing & repair tasks.
• Canara Bank Housing Loan Interest Rates for home improvement will range from 10.80% - 12.85% p.a.
• Maximum tenure for home improvement will be up to 5 years.
• Resident as well as Non Resident Indians can apply.
• In all, Canara Bank Housing Loan eligibility criteria are easy to meet for all customer profiles. 

Canara Site Loan

• Canara Home Loan Scheme for buying / constructing a residential plot/ site.
• Both residents & NRIs can apply.
• Maximum amount up to 4 years of gross annual salary or 75% of the cost of the site, whichever is less
• Interest will range from 9.35 % - 10.40 % p.a.
• Up to 10 years or max construction time permitted by the allotment agency, whichever is earlier.
• Maximum age for loan application is 60 years; Loan should be repaid at maximum age of 65 years.

Canara Bank Housing Loan to Agriculturists

• Home Loan for people engaged in agriculture and allied activities.
• Loan amount up to 4 times of average annual income.
• As for repairs & renovations, maximum of Rs.15 lakh will be approved.
• Maximum tenure allowed is up to 30 years.
• To be eligible for this scheme, the applicant should own at least 5 acres of irrigated or 10 acres of dry land.
• There should be satisfactory dealing in the past 2 years.
• Minimum gross annual income should be Rs.5 lakh.
• The maximum age at the time of loan closure should be 70 years.

Canara Bank NRI Home Loan

• Canara Bank Home Loan for Non-Resident Indians (NRIs). 
• Applicant should be NRI for a minimum of 3 years and have a valid job contract/ work permit in residence country.  
• The applicant should be employed abroad for at least last 2 years.
• The loan can also availed for purchase, repair or renovation of existing residential unit in India.
• NRI should hold valid Indian Passport & PIOs should hold a valid foreign passport.
• Maximum home loan amount could be up to 4-5 times of annual salary, subject to meeting income eligibility.
• Maximum amount disbursed for repairs & renovation will be up to Rs.15 lakh.
• Maximum loan tenure will be up to 30 years.
• The age of the applicant should be between 21 to 60 years.

Canara- Yuva Awas Rin

• Canara Bank Yuva Awas Rin is a home loan scheme for young salaried applicants. 
• The loan can be availed for purchase, construction or renovation of a residential unit/ site.
• The salaried employees can avail maximum home loan up to 6 years of net salary.
• As for repairs/ renovations, up to Rs 15 lakh can be availed. 
• Maximum tenure can be extended up to 30 years.
• The applicant in the age group of 21 to 45 years can apply.
• The applicant should also have minimum experience of 2 years in a confirmed job.

PMAY

• PMAY is Pradhan Mantri Awas Yojna.
• The scheme offers credit linked subsidy up to 2.67 lakhs to first time home buyers.
• Eligible Canara Bank Home Loan customers can apply for PMAY subsidy.
• The benefit will be directly credited to the loan account as you are nominated on the official PMAY website. 

You can contact Canara Bank Home Loan Customer Care by calling following Numbers.

Canara Bank Home Loan Toll free Contact Numbers:

1800 425 0018

1800 103 0018

1800 208 3333

1800 3011 3333

Canara Bank Home Loan Non Toll Free Number: (for customers calling from outside India) 

+91-80-22064232