Canara Bank Home Loan Interest Rate, Apply 2024

Hi dear readers, hope you are doing well, today we will know about How to get Canara Bank Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

if you Canara Bank Housing Loan If you want to take advantage of this, then this article is for you. home loan one Secured Loan comes under the category of

If a person does not have a house and does not have money to build a house, then that person can fulfill his dream of home by joining Canara Bank Home Loan.

You have to apply to take home loan from Canara bank. In this article, we will know what is Canara Bank Home Loan, Interest Rate, Documents, Eligibility and how we can apply for this loan, so read this article till the end.

Canara Bank Home Loan 2024

Any person can take home loan to buy a house or flat, for repair /renovation of house or flat. The amount given under the home loan is due to many factors of the applicant such as CIBIL Score depends on income, age, repayment ability etc. You can get Home Loan Subsidy on Home Loan from Canara Bank with Pradhan Mantri Awas Yojana (PMAY). Canara Bank offers many types of Home Loan Schemes. The interest rate and loan amount can be different in every scheme. The loan tenure of Canara bank home loan is maximum up to 30 years. Canara Bank home loan interest rate starts from 8.80% p.a.

The processing fee of this home loan is 0.50% of the loan amount. The applicant can take loan amount up to 6 times of his annual income. One can take a home loan up to Rs 15 lakh for the repair or renovation of a house/flat. Nil foreclosure charges are levied for availing a floating rate home loan. If you belong to Canara Bank personal loan If you want to take advantage of this then you can click on this link Canara Bank Personal loan You can apply for personal loan by clicking on

Key Features of Canara Bank Housing Loan

• Loan Name: Canara Bank Home Loan 2024
• Lending Bank Name: Canara Bank
• Interest Rate: Starting from 8.80% pa
• Processing Fee : 0.50% of the loan amount (Min. – Rs. 1500, Max. – Rs. 10,000) of the loan amount depending on the repayment capacity of the customer.
• Loan tenure: 30 years
• Official Website: https://canarabank.com/

Canara Bank Home Loan Interest Rates 2023

Canara Bank offers a variety of home loan schemes. The interest rate is different in all. Canara Bank home loan interest rate starts from 8.80% p.a. Just like before taking a personal loan, we Personal Loan Interest Rate 2024 Similarly, before taking a home loan, we need to know about Home Loan Interest Rate 2024 It is necessary to have information about If you apply for that loan without knowing the correct interest rate of the loan, then you may have to face problems at the time of repayment of the loan.

Canara Bank Home Loan Eligibility

Only those individuals who are eligible can apply for Canara Bank Home Loan. The bank offers many types of home loans and each one has different eligibility criteria. Here is the information about all the home loans about their eligibility. You can apply for Canara Bank House Loan according to your eligibility :

Types of Canara Bank Home Loan

• Canara Bank Housing Loan
• home improvement loan
• housing-cum-solar loan
• Canara Home Loan Plus
• housing loan to farmers
• Canara bank home loan scheme for NRIs
• Housing Loans to Corporates
• Canara Home Loan Super Gain ( CASA)
• Canara Kutir – Housing Loan Scheme

Canara Bank Housing Loan : –

Purpose/Features:

• You can take this loan to buy a ready-made house or flat.
• This loan can be taken for construction / renovation of house or flat.
• Plot in case of joint housing loan The utilization of loan amount for purchase is limited to 60% of the eligible/approved loan amount.
• 15 lakh in case of repair and renewal.
• If you already have a house/flat with or without loan, then you can take a loan for the purchase of another house/flat.
• 6 times of gross annual salary.
• Individuals engaged in business or self-employed individuals can take loans up to 6 times the annual salary.
• 8 years Gross Salary/Income are also allowed.
• Security – mortgage of house/flat

Eligibility:

• Work Experience for Salaried Persons – At least 2 years.
• For a person engaged in business/professional and self-employed person – should have at least 3 years of work experience.
• The age of the applicant should be less than 60 years at the time of applying and the loan should have matured before the age of 75 years.
• 60 years of age can also apply subject to certain conditions.

Margin:

housing loan amount	In case of new house/flat and old house/flat ( upto 10 years old)	In case of old house/flat ( >10 years old)
Rs.30 lakh	10%
30 lakh to 75 lakh rupees	20%	25%
75 lakhs plus	25%

Home Improvement Loan: –

Purpose/Features:

• Home Improvement Loan Scheme provides a packaged financial assistance to the customers to furnish their house/flat at unbelievably low interest rates.
• The customer can take this loan to buy refrigerators, fans, air conditioners, wardrobes, household furniture items or any other household item.

Eligibility :

• Any salaried person / business person / professional / self-employed person can apply for this loan.
• NRI person is eligible.
• should be 25% of their gross salary.
• The annual minimum income of professional and other non-salaried persons should be Rs. 50000.
• Loan Quantity – You can take a loan up to 20% of the total sanctioned home loan amount or one year gross salary / gross income whichever is less.

Margin:

• In case the loan is taken as a part of housing finance, the margin prescribed under housing finance will be applicable for this loan, in other cases a similar margin of 20% may be prescribed.
• 25% of the project cost is applicable in case of repairs/renovations.
• All documentation charges are included in the margin if the project cost is less than Rs.10 lakhs and if the project cost is more than Rs.10 lakhs, the margin is determined at the original project cost.
• Loan Repayment Period – 7 Years.

Housing-cum-Solar Loan: –

Purpose/Features:

• This loan can be availed by the customer not for construction or purchase of a house/flat but for installing Roof Top Solar Photovoltaic (PV) on the roof of the house with or without a home loan. can take
• This loan can be sanctioned with New Home Loan or sanctioned for those customers Can be done for those who already have a home loan.
• Repayment Period – 20 Years.

Loan Amount:

• Quantum of loan for housing loan component–
  • 6 times of Gross Annual Income |
  • 4 times of gross annual income.
  • 6 times the gross annual income.
  • Canara Home Loan Super Gain: Minimum Rs 20 lakh, Maximum – No upper limit.
• Loan quantum for solar loan component–
  • 20% of the eligible amount under the housing loan component or 80% of the cost of the solar system or Rs.10 lakh.

Subsidy under this home loan scheme:

• 30% of the benchmark cost in normal states
• 70% of the benchmark cost in Special Category States (Northeast States including Sikkim, Uttarakhand, Himachal Pradesh, Jammu & Kashmir, Lakshadweep, Andaman & Nicobar Islands)

Canara Home Loan Plus:-

Purpose/Features:

• This Canara bank home loan can be availed by only those people who are existing loan customers of the bank and have a satisfactory repayment track record in the bank.
• Applicant age should be 18 to 70 years.
• You can take this loan to meet your domestic needs.
• Loan Type – Term Loan |
• Loan Tenure: Remaining Repayment Tenure of Existing Housing Loan or 120 EMIs. This is subject to the loan amount before the applicant attains the age of 70 years.
• 0.50% of the loan amount ( Minimum- Rs.100 & Maximum- Rs.500 )

Loan amount only:

• salaried For Individual: 10 months gross salary subject to maximum of Rs.25 lakh.
• non-salaried For Individual: 85% of the average gross income of the applicant for 3 years subject to a maximum of Rs.25 lakhs.

Housing loan to farmers:-

Purpose/Features:

• , persons engaged in allied activities like diary/poultry activity, plantation, gardener etc. can apply for this loan.
• The applicant can take this loan for the purchase or construction of a house or flat.
• Repayment Period: 30 Years |

Eligibility:

• All those who own and cultivate more than 5 acres of irrigated / 10 acres of dry land The farmer is eligible for this loan.
• 2 years of satisfactory behavior |
• The minimum gross annual income of the applicant farmer should be Rs 5 lakh.

Loan Amount:

• salaried 6 times the monthly salary for the individual.
• 6 times the gross annual income for persons engaged in business or self-employed persons.
• Rs.15 lakh for repair or renewal.
• NTH of 25% with minimum amount of Rs.10,000 after completing the EMI of the proposed loan.

Canara bank home loan scheme for NRIs :-

Purpose/Features:

• NRIs can take this loan to buy a house or flat or for construction/renovation/repair.
• 15 lakh for repair, renovation, extension.

Eligibility:

• All Non-Resident Indians holding a valid Indian Passport and Persons of Indian Origin (PIO) holding a Foreign Passport can apply for this loan.
• The minimum age of the applicant should be 21 years and maximum 60 years.
• Spouse or close relative of non-resident Indian person who is resident of India can join NRI as joint applicant.
• Applicants who have at least 2 years of employment abroad.
• should have NRI status of at least 3 years.
• Repayment Period: Up to 30 Years |
• 0.10% of the loan amount ( Minimum – Rs.500, Maximum – Rs.10,000 )

Loan amount:

• 4 times of annual gross income.
• 5 times of annual gross income subject to certain conditions.

Housing Loans to Corporates:-

Purpose/Features:

• This loan can be taken for the purchase or construction/repair/renovation of a house or flat.
• This home loan is provided to corporate entities.
• Land purchase does not come under this loan, so construction is allowed only on own land.
• Loan Amount – Minimum Rs.50 Lakhs.
• Repayment Period: Maximum 15 years.

Eligibility:

• All partnership firms, private limited and limited companies having satisfactory track record of at least 3 years with Canara bank are eligible for this loan.
• The company should only make profit for the last 3 years, there should be no loss.
• If the company has any loan account then it should be regular and standard and should not be restructured during the last 3 years.

Canara Home Loan Super Gain ( CASA): –

Purpose/Features:

• house, flat or plot This loan can be taken for the purchase of
• 20 lakh or more.
• Loan Amount: Minimum – Rs 20 lakh and no maximum limit.
• Repayment Period: 30 Years |
• 0.40% of the loan amount ( Min. Rs.2000 & Maximum Rs.50,000 )

Canara Kutir – Housing Loan Scheme:-

Purpose/Features:

• This loan can be taken to buy a residential site and build a house on it.
• To buy new or old residential unit.
• already owned To build a house on the same plot.
• rural, urban, metro areas can apply for this loan, whose annual income should be Rs 1 lakh and Rs 1 lakh to Rs 3 lakh respectively.
• Repayment Period: 30 Years |

Maximum loan amount:

• 1 lakh per annum – Rs 5 lakh.
• 1 lakh and up to Rs 3 lakh per annum – Rs 10 lakh.

Documents Need for Canara Bank Home Loan

Before applying for a home loan, you should keep all your documents together so that whenever the bank asks you for documents, you can show them all the documents immediately. To apply for Canara Bank Home Loan, you must have the following documents. For more information about documents you can contact nearest branch or toll free number 1800 425 0018.

• Identity Proof (Aadhaar Card / Valid Passport / PAN Card / Driving License / Voter ID)
• Address Proof (Aadhaar Card / PAN Card / Voter ID / Copy of Utility Bills / Driving License / Valid Passport)
• Income Proof:
• For Salaried Person:
  • Recent Salary Slip
  • Salary/Employment Certificate
  • Latest Form No. 16
• For Self Employed Person:
  • nature of business, type of organization, year of establishment etc.
  • ITAO/IT Returns for the last 3 assessment years
  • Balance Sheet and P&L Account for the last 3 years
• 2 passport size photographs of the applicant/guarantor
• sale deed
• agreement for sale
• Copy of the approved plan for the proposed construction/expansion/addition
• Detailed Cost Estimate/Appraisal Report from Bank Panel Chartered Engineer/Architect
• Allotment letter of NOC from Co-operative Housing Society / Apartment Owners Association / Housing Board / Society / Association / Builders / Housing Board
• Legal Inquiry Report, EC, Property Tax Payment Receipt, Account and Permission for Mortgage for the last 13 years, where required
• Salary Certificate and Form No. 16 ( in case of salaried individuals)
• IT returns filing for the last three assessment years (in case of non-salaried individuals)
• A brief note on the nature of business, year of establishment, type of organization etc. ( in case of self-employed)
• Balance Sheet and P&L Account for the last three years (in case of self-employed)

Canara Bank Home Loan Apply

If you fulfill all the conditions of Canara bank home loan, then you can apply for it both online and offline. Information about the process of applying is given here:

Canara Bank Home Loan Apply Online

• You must first visit the official website of the bank. canarabank.com
• On the home page of the website, the option of Loan Products will appear in the Personal Banking option, click on it.
• On the next page, all the home loan types will come in front of you.

• Select the home loan you want to apply for.
• All the information related to that loan will come in front of you.
• Click on Apply now to apply.
• The loan form will open in front of you.
• Enter the requested information in the form and submit the form.
• submitting the form, the representative of the bank will contact you and the loan process will be issued further.

How to apply offline ?

• First of all you have to go to your nearest Canara bank branch.
• You will have to contact the bank employee by going to the bank branch.
• The bank employee will provide you all the information related to the home loan.
• Then your documents will be verified.
• You will be given a form.
• You have to enter all the information asked in the form correctly, attach your documents and submit the form to the bank.
• If your loan is approved then the loan amount will be transferred to your bank account.

Canara Bank Home Loan EMI Calculator

Before applying for any home loan, you should calculate the EMI (Equated Monthly Installment) of that loan. By calculating the EMI of the loan, you can find out how much installment you will have to pay at the time of repayment of the loan. Customer by visiting the official website of Canara bank Home Loan EMI Calculator With the help of this you can calculate the EMI of your loan. Loan EMI depends on three main factors – loan amount, interest rate and loan tenure.

Canara Bank Home Loan Customer Care Number

If you have any other type of information regarding this loan, then you can get information by calling Canara Bank Home Loan Customer Care Number.

• Toll Free Numbers: 1800 425 0018 / 1800 103 0018 / 1800 208 3333 / 1800 3011 3333
• Non Toll Free Numbers (if calling from outside India): +91-80-22064232

Conclusion:

In this article we have given you Canara Bank Home Loan Tried to provide complete information about Any person who wants to join Canara Bank Home Loan to fulfill his dream of home can read this article to get complete information about Canara Bank Home Loan.

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FAQs on Canara Bank Home Loan