|Interest Rate||6.90% onwards|
|Loan Tenure||Up to 30 Years|
|Loan Amount||6-8 times annual income|
|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
Additional Info: Also check Syndicate Bank Balance Check Number
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
Additional Info: Also check Canara Bank Home Loan Eligibility
Here is the list of Canara Bank Home Loan documents:
Additional Info: Also check Canara Bank Home Loan Balance Transfer
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:
|Women Borrowers (% p.a.)||Other Borrowers (% p.a.)|
|Credit Risk Grade 1||6.90||6.95|
|Credit Risk Grade 2||6.95||7.00|
|Credit Risk Grade 3||7.35||7.40|
|Credit Risk Grade 4||8.85||8.90|
* RLLR = 6.90%
*In case of Commercial Real Estate (3rd & subsequent home) the applicable interest rate shall be +0.50%
Canara Bank Home Loan Interest Rates -2022 for different types of housing loans are as below:
|Type of Home Loan||Rate of Interest (% p.a.)|
|Canara Housing Loan to Corporates||8.15 % onwards|
|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%|
Additional Info: Also check Canara Bank Loan Against Property
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.
|Schedule of Charge||Fee/ Charge|
|Processing Fees||0.50% of the loan amount |
(Rs 1500- Rs 10000)
Floating home loans: NIL
Fixed home loans: 2% of outstanding in case of takeover by another lender
|Copy of loan documents||Rs. 10 per page (minimum of Rs. 100) + OPE charges, if any|
|Solvency Certificate||Rs. 300 per lakh |
(Rs. 1,500 to Rs. 25,000)
|Capacity/ Capability Certificate||Rs. 300 per lakh |
(Rs. 1,500 to Rs. 25,000)
Additional Info: Also check Canara Bank Personal Loan
|Lender||Maximum Loan Amount||Maximum Tenure||Interest Rate||Processing Fee|
|Canara Bank Home Loan||Up to 85% of property cost||30 years||6.90%- 8.90% onwards||0.5% of the loan amount (Rs1500- Rs 10000)|
|Citibank Home Loan||Rs. 10 Crores||25 years||6.50% - 7.25%||Up to Rs. 5,000|
|Kotak Mahindra Home Loan||Rs. 5 Crores||30 years||6.50% - 7.20%||Up to 2% of the loan amount + GST|
|ICICI Bank Home Loan||90% of property cost||30 years||6.70% - 7.55%||0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST|
|SBI Home Loan||Rs. 10 Crores||25 years||6.75% - 8.00%|
0.40% of the loan amount
|HDFC Ltd Home Loan||Up to 90% of property cost||30 years||6.70% - 7.65%||Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes|
|Bank of Baroda Home Loan||Rs. 10 Crores||30 years||6.75% - 8.10%||Up to 0.50% (minimum Rs. 8,500 & maximum Rs. 25,000)|
It is completely hassle free to use the online Home Loan EMI Calculator. All you need to share is your loan amount, tenure and rate of interest. Instantly you will get EMI and overall interest component for the loan.
Before signing up for Canara Bank Home Loan, you must check tentative EMI using Canara Bank Home Loan Calculator. It will help you make an informed decision.
Let’s check Canara Bank Home Loan EMI Calculation for various tenure & loan amount @ 6.90% interest rate.
Canara Bank Home Loan EMI Calculation:
|Amount||EMI for 10 Years of Tenure (in Rs)||EMI for 20 Years of Tenure (in Rs)||EMI for 30 Years of Tenure (in Rs)|
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)
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MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.
Canara Bank is a well trusted lender with 115 years of experience. You can transfer your home loan and reduce EMI as well as loan burden. You can opt for top up and reset tenure and EMI as per your requirement.
Canara Bank follows daily reducing balance method for calculating interest on your Home Loan. The bank debits the interest on the last day of every month. The daily reducing balance method is the best method of calculating interest on Home Loan and saves interest cost.
There is NIL prepayment fee for floating interest rate loans. Up to 2% of the outstanding amount is charged for fixed interest rate loans, when takeover by other bank/ FI happens.
Yes, it does. However, you should satisfy the other eligibility criteria for Home Loan such as EMI/ NMI, LTV ratio and so on.
Canara Bank has an extensive branch network. When you apply for Canara Bank Home Loan through MyMoneyMantra, you can instantly start your application. A loan officer will guide and handhold you till the disbursement of the loan.
The minimum EMI for Rs 30 lakh Canara Bank Home Loan for a woman applicant will be Rs 19758 for 30 years @6.90% p.a. As for other applicants, minimum rate of interest is 6.95% and thus EMI will be Rs 19858.