Canara Bank Personal Loan Key Features Apr 23 2024
| Eligibility Criteria | Details |
| Age | 21 – 60 Years |
| CIBIL Score | Minimum 700 or above |
| Canara Bank Personal Loan Interest Rate | 12.40% per annum |
| Lowest EMI per lakh | Rs. 2653 |
| Tenure | 12 to 48 months |
| Canara Bank Personal Loan Processing Fee | 1% of Loan Amount |
| Prepayment Charges | NIL |
| Part Payment Charges | NIL |
| Minimum Loan Amount | Rs. 25,000 |
| Maximum Loan Amount | Upto Rs. 3 lakh |
Canara Bank Personal Loan Interest Rates and Charges
| Canara Bank Personal Loan Interest Rate | 12.40% per annum |
| Canara Bank Personal Loan Processing Charges | 1% of Loan Amount |
| Prepayment Charges | NIL |
| Stamp Duty | As per state laws |
| Cheque Bounce Charges | As per bank terms |
Canara Bank Personal Loan Status
You can check the status of your personal loan by visiting the nearest Canara Bank branch or call the customer care number.
Canara Bank Personal Loan Eligibility Criteria
| CIBIL score Criteria | 700 and Above |
| Age Criteria | 21-60 years |
| Min Income Criteria | Rs 25000/month |
| Occupation Criteria | Salaried/Self-employed |
Canara Bank Fees and Other Charges
| Category | Details |
| Canara Bank Personal Loan Interest Rate | 12.40% per annum |
| Canara Bank Personal Loan Processing Fee | 1% of the loan amount |
| Min ₹ 1000 and Max ₹ 25000 | |
| Prepayment | No prepayment is allowed until 12 EMIs are paid |
| Pre-closure | No foreclosure is allowed until 12 EMIs are paid |
| Prepayment Charges | 13-24 months: 4% of loan principal outstanding |
| 25-36 months: 3% of loan principal outstanding | |
| >36 months: 2% of loan principal outstanding | |
| Stamp Duty | As per state laws |
| Cheque Bounce Charges | ₹ 550/cheque + GST |
| Floating Rate of Interest | Not Applicable |
| Overdue EMI Interest | 2% p.m.(on overdue amount) |
| Amortization Schedule Charges | ₹ 200 + GST |
Canara Bank Personal Loan Documents Required
| Form | Duly filled application form |
| Proof of Identity | Copy of: Passport Driving License Aadhar Card Voter ID Card |
| Proof of Address | Rent Agreement (Min. 1 year of stay) Utility Bills Passport (Proof of permanent residence) Ration card |
| Proof of Income | ITR: Last two Assessment years Salary Slip: Last 6 months Bank Statement: Last 3 months |
Canara Bank Personal Loan EMI Calculator
Check your loan EMI with a personal loan EMI calculator.
Canara Bank Personal Loan Compared to Other Banks
| Bank | Interest Rate | Tenure | Loan Amount & Proc Fee |
| Canara Bank | 12.40% | 12 to 60 months | Up to Rs. 10 lakh / 1% to 2% of Loan Amount |
| Canara Bank | 10.50% to 21.50% | 12 to 60 months | Up to Rs. 40 lakh / Up to 2.50% of the loan amount |
| Bajaj Finserv | Starting from 12.99% | 12 to 60 months | Up to Rs. 25 lakh / Up to 3.99% of the loan amount |
| Axis Bank | 7.35% to 24% | 12 to 60 months | Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount |
| Citibank | Starting from 10.50% | 12 to 60 months | Up to Rs. 30 lakh / Up to 3% of the loan amount |
| Private Bank | 10.50% to 19.25% | 12 to 60 months | Up to Rs. 20 lakh / Up to 2.25% of the loan amount |
Other Loan Products from Canara Bank
| Canara Bank Gold Loan | Canara Bank Car Loan | Canara Bank Home Loan | Canara Bank Business Loan |
| Canara Bank TWL | Canara Bank LAP | Canara Bank Credit Card | Canara Bank Education Loan |
Why should you apply for a Personal Loan in Canara Bank with Dialabank?
Dialabank helps you choose the option of banks by providing you with the updated market comparison of different banks to make the right choice. We at Dialabank have already helped thousands of people to get the loan they need without any issue, and we look forward to continuing in doing so. Apply with us today to get the offers and special deals on Canara Bank Personal Loan.
Call us at 9878981166 to avail of the Canara Bank Personal Loan.
How to Calculate EMIs for Personal Loan in Canara Bank
Calculate your EMIs using the calculator below:
Canara Bank Personal Loan Processing Time
A loan application takes about 48 to 72 hours to process in Canara Bank. Borrowers who have a relationship with the bank can get their loan approved quicker.
Canara Bank Personal Loan Pre-closure Charges
You are not required to pay any foreclosure fee when prepaying your personal loan.
Documents required for Canara Bank Personal Loan Pre-closure
Generally, the following documents are required to foreclose your Canara Bank personal loan:
- A valid photo identity proof
- Loan Account Statement
- Cheque/ demand draft/ cash to make the payment
Canara Bank Foreclosure Benefits
Given below are a few key benefits of foreclosing your Canara Bank personal loan:
Foreclosure / Full Prepayment
- Helps you save on the overall interest payout.
- Frees you from the burden of regular loan repayments.
Partial Prepayment
- It enables you to save on the interest component.
- You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.
Canara Bank Prepayment Facility
The bank also offers a prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same. This will also help in saving interest accrued on the principal amount. Know more about this facility below.
Note:
- Prepayment will be allowed subject to the successful payment of the first 12 EMIs.
- Prepayment will be allowed a maximum of twice during the entire tenure of the loan.
- Prepayment is allowed only once a year.
- At any point in time, the prepayment will not exceed 25% of Principal Outstanding.
Charges to be paid on Prepayment
- 13-24 Months – 4% of the outstanding loan balance.
- 25-36 Months – 3% of the outstanding loan balance.
- More than 36 Months – 2% of the outstanding loan balance.
Pre Calculated EMI for Personal Loan
Canara Bank Personal Loan for Salaried Employees
Canara Bank offers Personal loans for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, The take-home salary of the employee, and the city of residence of the employee. Canara Bank offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.
Canara Bank Personal Loan for Self Employed Individuals
Canara Bank’s Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. However, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.
Canara Bank Personal Loan for Tcs Employees
- Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
- EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
- The hassle-free documentation process for TCS employees.
- Pre-approved personal loans for eligible TCS employees.
- Interest rate starting at 11.99% p.a for superbike loans.
- Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.
Canara Bank Moratorium Process
The process to stop your loan EMIs at Canara Bank is as follows-
- Visit the Canara Bank website or use the mobile app
- Click on the link where the option of moratorium period is popping out
- On the application page, mention your registered mobile number, name, email address
- After that enter your date of birth and select the type of loan
- Enter your loan number and mention your EMI amount
- Then make a decision and choose a suitable service
- Click on the EMI deferment option that says I agree to pay the accrued interest on the outstanding balance
- Click on the ‘Submit’ button
- The bank will check the details thoroughly and process your moratorium request
- You’ll be given a reference upon the successful completion of the process on your registered mobile number and email address
However, if you don’t want to defer EMI, you must click on the second option after the deferment option. This will ensure EMI payments are as scheduled with no extra interest charged on them.
Canara Bank Personal Loan Special Pricing
If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.
| Loan Amount | IRR | Processing Fee (+GST) |
| Loan amount >=15 lakh* | 10.50% | INR 3999 |
*Terms & conditions apply
This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.
If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.
| NTH | Loan Amount | IRR | Processing Fee (+GST) |
| >=50000 | Loan amount >=10 lakh* | 10.50% | INR 3999 |
*Terms & conditions apply
- Not applicable on Existing loan closure
- Not applicable for Credit card BT
How to Manage a Personal Loan
Here are the 4 tips that will help you manage your loans:
1. Pay On-Time – The first step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition.
If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your instalment plan you will have a buffer against a missed payment.
2. Pay More Than Your Minimum – Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses. Moreover, paying extra on your loan reduces the length of the repayment plan.
This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rates of interest.
3. Consolidate Your Loans – For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interest and needs, one can make a single payment to one provider.
Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans. The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.
4. Credit Score – Last but not least, always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.
Different Offers for Canara Bank Personal Loan
Canara Bank Doctor Loan
Canara Bank offers special Personal Loans to Doctors who require funds. Bank gives them loans ranging from Rs. 50000 to Rs. 50 lakhs for a tenure of 12-60 months at interest rates starting from 11.25%. There are certain eligibility criteria’s for availing of this loan:
- The credit score should be at least 650.
- Age should be 25-65 years.
- Medical Experience – More than 4 years (as a doctor).
Canara Bank Marriage Loan
Canara Bank offers Personal Loan for Marriage to solve people who are facing a shortage of funds for their or their close one’s marriage. There is no restriction on using this loan amount and can be used for anything from wedding banquets to makeup or stylists, etc. You get these amounts quickly within seconds if you are a pre-approved customer with the bank or as quickly as 4 hours in some cases. The bank charges an attractive interest rate and gives you the option of choosing the loan tenure.
Canara Bank Personal Loan for Government Employees
To fulfil the individual requirements of all the public authority workers, Canara is here. The moneylender offers individual credit to the representatives of public area endeavours, including Central, State, and Local Bodies. The base net month to month pay of a worker should be INR 15,000/20,000 to profit the greatest advance measure up to INR 40 Lakh. The individual advance offered by the Canara bank accompanies a residency of 5 years alongside a handling expense of 1.50% of the advance sum.
Canara Personal Loan Offers for Government Employees
| Offers By Government | Number of Companies | Processing Fee(% of the Loan Amount | IRR |
| Miniratna, Navratna, and Maharasthra | 55 | 1.50% | 13.49% |
| 11.49% | |||
| 10.99% | |||
| Pensioner | All | 1.50% | 14.75% |
| Employees from the Railway Department | All | 1.50% | 16.50% |
| 15.00% | |||
| 14.25% | |||
| CISF, CRPF, ITBP, SSB, and BSF | All | 1.50% | 14.75% |
State and Central Government Officers:
| Section | Salary | Processing charge | IRR |
| Government Officer Division A (GA) and Division B (GB) | NTH>24k | 2% | 16.75% |
| NTH>35k | 2% | 15% | |
| NTH>50k | 1.75% | 14.75% |
Canara Bank Personal Loan for Pensioners
Canara Bank offers special plans for Pensioners looking out for Personal loans. They provide good funding at attractive rates of interest to pensioners. Some of the features of Canara Bank Personal Loan for Pensioners are listed below:
- Minimum Pension Amount – 25000+
- Maximum age – 65 years at loan maturity
- 50% of extra income (FD interest rental income, etc.) can be counted as Actual Income
- Canara Bank Personal Loan Interest Rate – 12.40%
- Tenure – a minimum of 12 months
Canara Bank Personal Loan Balance Transfer
Personal Loan Balance Transfer refers to a process where you shift your personal loan from one lending institution to another. In this, your new bank pays off your previous loan and gives you the loan. You get many benefits if you do this, but you may have to pay the foreclosure charges associated with that loan along with the Processing fee on your new loan. Some of the benefits are listed below:
- Lower Interest Rate
- Extended Tenure for the Repayment
- You may also get additional features associated with your loan, such as no processing fee, etc., based on your Cibil score.
Canara Bank Personal Loan Top Up
Top up facility on your loan is the additional amount you borrow from the bank on your existing loan. Canara Bank lets you avail of this facility if you have paid at least 9 regular EMIs without any hindrances in payment. You can get a top-up of a minimum of Rs 50,000 and a maximum of your already sanctioned loan amount.
Canara Bank Personal Loan Overdraft Scheme
Canara Bank Offers an Overdraft Scheme. With this, you are provided with a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Personal Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Canara Bank Personal Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
Home Renovation Loan
Canara Bank offers home remodel advances for people who wish to get their homes revamped. This individual credit can subsidize indispensable fixes or help the candidate get new fittings, installations, and furniture for their home. Some critical highlights of Canara Bank Home Renovation Loan are:
- Financing cost for Canara Bank’s Home Renovation Loan begins at as low as 11.25%
- People might be qualified for a credit sum up to Rs. 20 Lakh to get their home redesigned
- Home remodel advance from Canara Bank requires insignificant documentation making the whole advance cycle bother free.
- The advance sum gets typically credited into the record within 72 hours once the bank favours your application.
Holiday Loan
Canara Bank’s Holiday Loan can assist you with masterminding your fantasy excursion with a minor problem. This individual advance from Canara can subsidize a scope of excursion related costs, including flight ticket booking, inn facilities, guided visits, and so forth Key highlights of Canara’s Holiday Loan are:
- Financing costs for Holiday Loans start at 11.25% p.a.
- You can without much of a stretch benefit a measure of up to Rs 20 Lakh, so your fantasy get-away won’t be spoilt because of a budgetary crunch.
- Rearranged and Minimal documentation guarantees that subsidizing your excursion is basic and straightforward.
- Fast preparing and disbursal of advance, which is attributed straightforwardly to your record.
Fresher Funding
A more significant part of unstable individual advances are focused on people with an average pay; in any case, Canara Bank’s Fresher Funding is extraordinary. This credit alternative from Canara Bank is intended to support freshers, for example, ongoing alumni looking for their first work. Some critical highlights of Canara Bank Fresher Funding individual advance are as per the following:
- Credit sum up to Rs 1.5 lakh
- The candidate must be at any rate 21 years of age.
- The pace of interest for Fresher Funding relies upon the profile of the advanced candidate, the financial record/score, age, and area of the candidate.
NRI Personal Loan
Understanding the requirements and dreams of NRIs, Canara Bank offers an individual credit explicitly for NRIs. The essential advance candidate should be an Indian occupant, and the co-candidate NRI must be a nearby family member. Individual Loan for NRIs incorporates the accompanying highlights.
- Canara Bank offers NRIs individual credits up to Rs. 10 lakh with adaptable end-use
- The financing costs for NRI Personal Loan start at 15.49% p.a.
- The credit includes a residency of as long as three years.
Canara Personal Loan Preclosure Online
Canara Bank enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your Canara Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.
Canara Personal Loan Process Steps
Step 1: Determine your requirement
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.
Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the Canara Bank Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. Canara Bank offers loans up to Rs. 40 lac.
Step 3: Calculate monthly instalments
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the Canara Bank Personal Loan EMI Calculator. Canara Bank offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2653 per lac * (T&C).
Step 4: Approach the bank
You can apply for a Personal Loan with Canara Bank in various ways: Via Net Baning, online on the Canara Bank website, at an ATM, or by visiting a branch.
Step 5: Submit documents
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.
Wait for funds to be remitted to your account. Canara Bank disburses funds for pre-approved loans to customers in 10 seconds*, and for non-Canara Bank customers in 4 hours.
That’s how to get a Personal Loan in 5 easy steps!
Canara Bank Personal Loan Prepayment Charges
If you are a salaried applicant, you can pre-pay your Canara Personal Loan only after paying 12 equated monthly instalments completely.
The pre-payment charges for salaried applicants are as follows:
- 4% of the outstanding principal amount for 13 to 24 months.
- 5% of the outstanding principal amount for 25 to 36 months.
- 2% of the outstanding principal amount for more than 36 months.
How to Apply Online for Canara Bank Personal Loan?
- Visit Dialabank.
- Fill the Canara Bank Personal Loan Application form and submit it.
- Wait for a call from one of our Relationship Managers who are experts in this field.
- Get personalized service to avail Personal Loan by comparing between features of various banks and selecting the one you need.
PL Verification Process
Coming up next are fundamental strides of the individual credit confirmation measure after online accommodation of your advance application on Dialabank.
Step1. Dialabank will advance your credit application to your picked loan specialist, and regularly inside 48 hours, you will get a call from the moneylender’s delegate.
Step2. The imminent moneylender will plan a pickup of your KYC, pay, and so on reports or give an alternative to transfer them on the web. These reports will be utilized to check your application.
Step3. When the bank’s confirmation is finished, and your credit is affirmed, you will get another call to check the advance offer and request your consent for disbursal.
Step4. After credit endorsement and fruitful confirmation, the advance is typically dispensed within 48 hours.
Note: The previously mentioned turnaround time for individual advance check/disbursal may change dependent on the loan specialist’s interior necessities just as other standards.
Check Your Canara Bank PL Application Status Online
The cycle to check your application status incorporates the accompanying advances:
- Visit the official site of Canara bank, Click on ‘Items’ and select ‘Individual Loans’.
- On the following page that opens from now on, click on ‘Additional’ and select ‘Check Loan Application Status’.
- Next, you can check your application status by entering subtleties like your versatile number, date of birth and by either entering the OTP that you get on your mobile number or utilizing your application number.
How to Login into the Canara Bank Portal
- Visit the official site of Canara Bank.
- On the upper right corner of the page, click on ‘Login’.
- Login utilizing your User ID and Password or your versatile enlisted number.
How to Check Your Personal Loan Statement
Clients can download the bank’s very own advance assertion by following the means given beneath:
- Visit the official site of the bank.
- Click on ‘Connect’ and select ‘Administration Requests’ starting from the drop list.
- On the next page that opens, under the ‘Credits’ menu, select ‘Individual Loan Related’.
- Next, click on ‘Solicitation for Statement of Loan Account’.
- Login utilizing your User ID and secret key or utilizing your enrolled portable number and OTP to benefit the bank’s very own advance assertion.
Canara Bank Personal Loan Restructuring (COVID-19)
The cross country lockdown because of the COVID-19 pandemic has affected numerous borrowers antagonistically and to alleviate its effect to a specific degree, a 6-month ban on different term advances was reported. After the finish of the half-year ban, Canara Bank had declared the RBI-ordered one-time advantage of Canara Bank individual credit rebuilding. This system is intended to give proceeded with help to those borrowers who are as yet unfit to begin reimbursement of their standard EMI due to ongoing budgetary difficulty coming about because of the pandemic.
The advance goal instrument presented by Canara Bank offers an extra ban of as long as two years or an augmentation on the current reimbursement time frame to diminish the month to month EMI instalments. It is, obviously, critical to enduring as a primary concern that rebuilding your Canara Bank individual credit will bring about extra premium charges well beyond those about the first advance. Accordingly, this help component should just be utilized if all else fails, so you don’t wind up defaulting on your excellent credit.
Canara Bank Customer Care
Clients can contact the Canara Bank client care through any of the accompanying methods:
- By Phone: You can call Canara Bank on 1860-120-7777 (complementary)
- Callback Request: You can likewise demand a get back to by visiting the bank’s site
- Online Chatbot: You can likewise get your inquiries replied to by the iPal chatbot on the web
- Branch Visit: You can visit the close by Canara Bank office to get your inquiries
Benefits of Canara Bank Personal Loan
There are different points of interest in applying for a personal advance on the Dialabank site. Some of them are given beneath:
24 x 7 Accessibility: You can get to the Dialabank site whenever and anyplace and in this way, apply for an individual credit whenever from the solace of your home or office.
Various moneylenders on a solitary stage: Dialabank empowers you to get to individual advance proposals from different forthcoming loan specialists on a solitary stage and subsequently takes out the need to visit numerous bank sites or branches.
Know EMI in a flash: With the individual credit EMI Calculator on Dialabank you can check the EMIs you would be paying on a personal advance even before you apply for one. It will assist you with acquiring the reasonable sum that you can without much of a stretch reimburse and have a helpful reimbursement plan.
Liberated from cost: Additionally, you are not needed to pay any charges when you apply for an individual credit on Dialabank.
How to Get the Best Offer on Canara Bank Personal Loan
You can get the best close to home financing costs from Canara Bank subject to an evaluation of your credit sum, pay, other commitment organizations you work with, and advance residency. The accompanying elements decide the individual credit pace of interest you can hope to get from Canara:
- Credit Amount – This is the sum acquired by a borrower from the bank. By and large, banks offer lower financing costs for higher sums. Canara Bank offers credits between ₹ 50,000 and ₹ 75 Lakh.
- Compensation – Income characterizes your ability to reimburse the credit. More significant compensation section people are offered credits at lower financing costs. The loan cost of the bank fluctuates with your net month to month pay.
- Manager Category – Canara Bank has an inner rundown of organizations falling into classifications that are positioned from high to low organization classes dependent on the organization’s size, notoriety, and existing relationship with the bank. Representatives who have a place with organizations in higher organization classes get appealing limits and low financing cost advances.
- Relationship with the Bank – Canara Bank offers extraordinary rates, offers, and charges to the current record holders of the bank. The individuals who have dealt with their records and made all the instalments on time in the past will get the advantage of a low Canara Bank advance loan cost.
- Credit Tenure – Personal advances are of more limited residency that goes from a year to 60 months as they are taken to meet their quick prerequisites.
- Reimbursement Capacity – Before giving an advance to the borrower, Canara Bank checks the reimbursement limit of the borrower. Bank confirms the reimbursement limit of the client through CIBIL as it has the reimbursement history of past credits taken. CIBIL additionally catches data of charge card charges instalment.
How does Canara Bank Personal Loan work?
Here is the process:
| Maximum Annual Percentage Rate (APR) | 11% to 22.5% |
| A representative example of the total cost of the loan, including all applicable fees |
Here is an illustration of the total cost of the loan: |
| Total amount borrowed: ₹ 1,00,000 | |
| Time period: 12 Months to 60 Months | |
| Canara Bank Personal Loan Interest Rate: 10.50% to 22.00% | |
| Processing Fee payable to Upto ₹ 2,500 | |
| Fee payable to MyLoanCare: NIL | |
| Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment. | |
| Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5% | |
| Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan |
Important Aspects
Given beneath are some significant viewpoints that you should consider while applying for an individual credit with Canara Bank:
- While applying for a personal advance, it is in every case great to check your financial assessment. A decent Credit rating expands the odds of endorsement of your advance and can empower you to benefit an individual credit on more great terms.
- Before concluding upon a specific bank, it is fitting to think about the expense of an individual credit (premium expense and all the material expenses and charges) offered by different moneylenders on Dialabank.
- Get as indicated by your need and reimbursement capacity. Try not to acquire essentially because you are qualified to get a higher sum. It will just add to your advantage cost and not have many advantages over the long haul.
- Try not to apply for individual advances with different banks simultaneously. It shows you to be eager for credit and expands the number of demanding requests for your credit report, which may antagonistically influence your financial assessment.
FAQs About Canara Bank Personal Loan
✅ How to apply for Canara Bank Personal Loan?
You can apply for a personal loan by visiting the nearest Canara Bank branch or through Dialabank’s online portal.
✅ What is the Interest Rate for Personal Loan in Canara Bank?
The interest rate for a personal loan is 12.40% per annum for Canara Bank.
✅ What is the minimum age for getting a Personal Loan from Canara Bank?
The minimum age for getting a personal loan from Canara bank is at least 21 years old.
✅ What is the maximum age for getting a Personal Loan from Canara Bank?
Individuals above the age of 60 can not apply for a personal loan unless they get a pension.
✅ What is the minimum loan amount for Canara Bank for Personal Loan?
You can get a minimum of Rs. 25,000 from Canara Bank under a personal loan scheme.
✅ What is the maximum loan amount for Canara Bank Personal Loan?
You can get a maximum of Rs. 10 lakhs from Canara Bank as a personal loan.
✅ What are the documents required for a Personal Loan in Canara Bank?
You will need identity proof, address proof, a PAN card, and two photographs.
✅ What is the Processing Fee for Canara Bank Personal Loan?
Canara Bank charges you a processing fee of 1% of the Loan Amount.
✅ How to get Canara Bank Personal Loan for Self Employed?
Self-employed borrowers can apply for a personal loan by visiting the Canara Bank branch nearest to them.
✅ What is the Maximum Loan Tenure for Canara Bank Personal Loan?
Canara Bank allows a maximum of 60 months of repayment tenure for a personal loan.
✅ What should be the CIBIL Score for Canara Bank Personal Loan?
You should have a CIBIL score of 750 or more.
✅ Do I have a preapproved offer for Canara Bank Bank Personal Loan?
You can contact Canara Bank on their customer care number to know your preapproved offers.
✅ How to calculate EMI for Canara Bank Personal Loan?
Use Dialabank’s online EMI calculator to calculate your EMIs. You only need your loan amount, interest rate, and tenure.
✅ How to pay Canara Bank Personal Loan EMI?
The personal loan EMIs are deducted from your bank account, and you can also pay them through the net banking portal of Canara Bank.
✅ How to close Canara Bank Personal Loan?
You will need to visit your Canara Bank branch and pay all the outstanding loan amounts with any charges as applicable to close your loan.
✅ How to check Canara Bank Personal Loan Status?
Contact the customer care number of Canara Bank or visit the nearest branch in person to know the status of your personal loan.
✅ How to close Canara Bank Personal Loan Online?
Visit the online net-banking portal of Canara Bank and pay your outstanding loan amount. Collect your payment receipt and use it to generate your no dues certificate.
✅ How to pay Canara Bank Bank Personal Loan EMI Online?
Use the net-banking page on Canara Bank’s website to pay for your personal loan EMIs online.
✅ How to check Personal Loan Balance in Canara Bank Bank?
You can contact the Canara Bank through customer care number to know all the details relating to your personal loan. You can also personally visit and ask your loan officer.
✅ How to download Canara Bank Personal Loan Statement?
You can use the Canara Bank mobile app to keep track of your personal loan account and download your statement in pdf format.
✅ How to Top Up Personal Loan in Canara Bank Bank?
You can Top Up your personal loan in Canara Bank by contacting the bank and applying for a top-up according to your need. You contact us at Dialaban for any financial advice.
✅ What happens if I don’t pay my Canara Bank Personal Loan EMIs?
There will be a penal interest charged as applicable and would even face legal actions if defaulting continues.
✅ How to find Canara Bank’s Personal Loan account number?
To get your personal loan account number, you can contact the loan officer at the bank branch or by contacting the customer care number of Canara Bank.
✅ What is the Canara Bank Personal Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Canara Personal loan account.
- Pay the pre-closure charges as per Canara Bank Personal Loan.
✅ What are the Canara Bank Personal Loan preclosure charges?
Canara Bank Personal Loan preclosure charges are Nil.
✅ What is the Canara Bank Gold Loan overdraft scheme?
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at Canara bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the Canara online banking portal and from there you can fill out a simple form and get an overdraft under your name.
✅ What is the Canara Bank Personal Loan maximum tenure?
The Canara Bank Personal loan’s maximum tenure is 60 months.
✅ What is the Canara Bank Personal Loan minimum tenure?
The Canara Bank Personal Loan minimum tenure is 12 months.
✅ What is the Canara Bank Personal Loan customer care number?
You can call Canara Bank on 9878981166.
Other Banks For Personal Loan
| Karnataka Vikas Grameena Bank Personal Loan | |
| Jharkhand Gramin Bank Personal Loan | |
| Kashi Gomti Samyut Gramin Bank Personal Loan | |
| Jana Small Finance Bank Personal Loan |
