Canara Bank LAP Amount | Up to Rs 10 Crore |
Interest Rate | 9.95 % to 12% p.a |
Repayment Tenure | Up to 10 years |
Processing Fee | Up to 0.5% of the loan amount (Min: Rs 5000) |
Foreclosure Charge | NIL |
Additional Info: Also check Canara Bank Balance Check Number
Canara Bank Mortgage loans are linked to repo rates and are levied as under. The loan against property interest rate will vary according to risk profile & credit score of the borrower.
Product | Rate of Interest (% p.a) | |
RRLR linked Rate of Interest - Canara Mortgage | CS : 1 | 9.95 |
CS : 2 | 10.00 | |
CS : 3 | 10.50 | |
CS : 4 | 12.00 | |
Canara Site | CS : 1 | 7.95 |
CS : 2 | 8.00 | |
CS : 3 | 8.50 | |
CS : 4 | 9.00 | |
Canara Rent | Navaratna PSUs, AAA rated Companies, Fortune 500 Companies, MNCs, Banks & Insurance Companies | 9.00 |
Others | 9.30 | |
Property leased to bank | 8.80 | |
Canara Jeevan | - | 8.50 |
To avail Canara Bank Loan Against Property, meet following criteria-
Documentation for Canara Bank Loan Against Property is nominal. Here is the list of documents required for loan against property.
Subject | Fee |
Processing fees | 0.5% of the loan amount Minimum: Rs 5000 |
Documentation charge | Rs 100 for 1 Lakh Rs 1000 - Rs 25000 over 1 Lakh |
Advocate & valuer’s Fee | As applicable |
Stamp Duty | As applicable |
CERSAI | Rs 50 + GST for up to Rs 5 Lakh Rs 100 + GST for above Rs 5 Lakh |
To calculate Canara Bank Loan Against Property EMI, use Online EMI Calculator. It is free and available 24X7. Share loan details including loan amount, repayment tenure and interest rate. You will instantly get loan EMI and total interest component.
Let’s take a quick overview on Canara Bank Loan Against Property EMIs for 5, 7 & 10 years at 9.95% p.a. for various loan amounts.
LAP Amount (in Rs) | LAP EMI @9.95% p.a for 60 months | LAP EMI @9.95% p.a for 84 months | LAP EMI @9.95% p.a for 120 months |
1000000 | 21222 | 16575 | 13187 |
2000000 | 42445 | 33151 | 26375 |
3000000 | 63667 | 49726 | 39562 |
4000000 | 84890 | 66301 | 52750 |
5000000 | 106112 | 82877 | 65937 |
Bank/HFC | Lowest Interest Rate | Max Processing Fee |
Canara Bank Loan Against Property | 9.95% | 0.05% |
SBI Loan Against Property | 6.70% | 0.50% |
HDFC Loan Against Property | 7.50% | 0.75% |
PNB Housing LAP | 8.75% | 0.75% |
Kotak Bank LAP | 9.25% | 1.00 |
Canara Rent
Canara Jeevan
You can call Canara Bank for your complaints & queries at following Toll Free Numbers:
1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333
If calling from outside of India, Call on Non Toll Free Number:
+91-80-22064232
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Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
Canara Bank LAP interest rate range from 9.95% p.a. to 12% p.a. The effective interest rate will depend on borrower’s credit profile and loan repayment capacity.
You can add a co-borrower or guarantor to improve your eligibility for Canara Bank LAP. The bank will assess repayment capacity & credit worthiness of the co borrowers.
No. There are no charges applicable for foreclosing Canara Bank LAP.
Canara Bank LAPs are linked to repo linked rates. The benchmark for assessing interest rate is RRLR.
To be eligible for Canara Bank Mortgage Loan, you need to an owner of a residential property. Your repayment capacity should be optimal for repaying EMI successfully. The bank will also assess your past repayment history and income stability.