All about Canara Loan Against Property
Eligibility for Canara Loan Against Property
- ‘Professionals’, ‘Businessmen’, ‘Salaried persons’.
- Customers who have satisfactory dealings with the banks.
- ‘New customers’ well introduced and credit worthy with satisfactory banker’s / market reports on them.
- Quantum: Canara Bank Loan Against Property
- Up to 50% on the property value being offered as security.
Interest Rate: Canara Loan Against Property: BR + 5.75 %
Repayment: ‘Canara Loan Against Property’
Up to 60 months by way of EMI
Security: ‘Canara Bank Loan Against Property’
‘Equitable Mortgage‘ of property acceptable to the Bank, which has very clear marketable title.
Guarantee: ‘Canara Bank Loan Against Property’
Personal-Guarantee from a person’s. Waiver must be considered selectively.
0.5% of “ loan“- amount.
Document(s) / Formalities: ‘Canara Loan Against Property’
- ‘Stipulated-Loan Application’ with 2-passport size photographs
- Lease-deed’s copy.
- Applicant’s income proof and guarantor.
- Assessment Order of Income-Tax / ‘IT-Return(s).
- Title-deeds of the property / ‘EC’, latest ‘tax-paid’ receipt /’Legal Scrutiny Report’.
- Building’s approved plan.
- Balance-Certificate if finance is availed against property.
- Annual Financial Statement(s) for the past 2 yrs.