How To Get Canara Bank Home Loan

Riya KapoorMarch 20, 2022

6 minutes read

Canara Bank Home Loan, Canara Bank Home Loan Interest Rate Friends, if you want to take Canara Bank Housing Loan, this article is for you. Canara Bank Home Loan comes under the category of Secured Loan. If you do not have a house and do not even have money to build a house, you can quickly fulfill your dream of a home by taking Canara Bank Home Loan.

To take a Canara bank home loan, you will have to make an application. In this post, you will know in full detail what is Canara Bank home loan is the Canara Bank home loan interest rate, Documents, Eligibility, and from what process of this loan. You can apply for a home loan.

Canara Bank Home Loan 2022

Friends, you can take Canara Bank Home Loan to buy a flat, house, or flat for repair/renovation. The amount given under the home loan depends on the applicant’s many factors, such as the applicant’s CIBIL score, income, age, etc. Friends, from Canara Bank, you can also take a subsidy on a home loan under Pradhan Mantri Awas Yojana (PMAY). Canara Bank offers many types of home loan schemes.

The interest rate and loan amount are different in all the schemes. The Canara Bank home loan tenure is up to 30 years. Canara Bank’s home loan interest rate starts from 6.90% per annum. Canara Bank Home Loan processing fee is 0.50% of the loan amount. The applicant can take a home loan up to 6 times his annual income. You can easily take a Canara Bank home loan up to Rs 15 lakh for the house or flat renovation. You are charged zero foreclosure charges when you take a floating-rate home loan.

Canara Bank Home Loan Interest Rates 2022

Canara Bank gives its customers many types of home loan schemes; the interest rate is different in all the schemes. Canara Bank Home Loan Interest Rate starts from 6.90%, Friends, before taking a personal loan, we need to know about the interest rate. Similarly, we need to have information about the home loan interest rate (Home Loan Interest Rate 2022) before taking a home loan. Friends, if you apply for that home loan without knowing correctly about the interest rate of the loan, then you will have to face many problems at the time of loan repayment.

Canara Bank Home Loan Eligibility

For Canara Bank Home Loan, only eligible people can apply for it. Canara Bank gives many different types of home loans. And everyone has different eligibility criteria. In this post, you have been given complete information about all the home loans about their eligibility criteria. You can apply for a Canara Bank House Loan as per your eligibility.

Types of Canara Bank Home Loan

Canara Bank Housing loan
Home improvement loan
Canara Bank Home Loan Scheme for NRIs (Scheme for NRIs)
housing loans to corporates
Canara Home Loan Super Gain (CASA)
housing-cum-solar loan
Canara Home Loan Plus
Housing loan to farmers
Canara Kutir – Housing Loan Scheme

Canara Bank Housing loan

You can take a Canara Bank Housing loan to buy a house or flat.
You can take a home loan to renovate a house or flat.
To get the renewal done, you can take a loan of up to Rs 15 lakh.
Salaried applicants can take loan amounts up to 6 times their annual salary.
Applicants doing business or self-employed applicants can avail loan amount up to 6 times their annual salary.
Loan up to 8 years Gross salary or income is allowed
Security – You will have to mortgage your house or flat.

Housing loan eligibility:-

Experience for Salaried Applicants – Minimum 2 years.
For businessmen and self-employed applicants – a minimum of 3 years of work experience is necessary.
Applicant’s age should be less than 60 years, and the loan must be matured before 75 years.
According to some conditions, applicants above 60 years of age can also apply.

Home Improvement Loan:-

Home Improvement Loan Scheme provides Canara Bank home loans to customers for their house or flat at low-interest rates. This loan can be taken to buy Fridge, Fan, AC, Wardrobe, Household items, or any other household item.

Also Read: How To Get Yes Bank Business Loan

home improvement loan eligibility:-

Salaried applicant/applicant doing business / professional/self-employed can apply for Canara Bank Home Loan.
NRI person is also eligible
Salaried persons should have a monthly salary of 25%
The minimum annual income of non-salaried applicants should be Rs 50000.
Loan Quantum – You can easily avail of a loan up to 20% of the total sanctioned home loan amount or one-year salary/gross income, whichever is less.

Margin:-

A uniform margin of 20% is prescribed. In the case of renewal, a uniform margin of 25% of the plan cost is applied.
If the project cost is less than Rs.10 lakhs, all document fees are included in the margin, and if the project cost is more than Rs.10 lakhs, the margin is determined on the original project cost.
Period – 7 years

Housing-cum-Solar Loan:-

Housing-cum-solar loan is not available for purchase or renovation of house or flat. It can be taken with a home loan or without a home loan for installing rooftop solar photovoltaic on top of the house.
If you take a new home loan, this loan can also be approved with it, or it can be sanctioned for applicants who already have a home loan.
Period – 20 years

Canara Bank Home Loan Plus

Canara Bank Home Loan Plus can be availed by only applicants who are already existing loan customers of the bank and who have a good bank record.

Age should be 18 to 70 years
You can also take advantage of Avalon to meet your domestic needs.
Loan type – term loan
Processing Fee: 0.50% of the loan amount

Housing Loan for Farmers:-

The benefit of this loan can be applied only by farmers, such as dairy/poultry activity, plantation, gardeners. Farmers can take this loan to buy a house or flat or build someone.

Period 30 years

NRI Applicants Canara Bank Home Loan Scheme

NRIs applicants can take advantage of this loan to buy a house or flat and for construction renovation.
Loan amount 15 lakhs
Period 30 years
Processing fee 0.10% of the loan amount

Eligibility: – NRI Applicants Canara Bank Home Loan Scheme

Applicant’s age should be 21 years and maximum 60 years only
Applicant should have at least 2 years of employment abroad
Must be an NRI of at least 3 years.

housing loans to corporates

Benefit of this loan This home loan can be taken for buying a house or flat or for construction renovation.
This home loan is given to corporate entities
This loan is not available to buy any land. This loan is available only for construction on your land.
Loan amount- 50 lakhs
Period up to 15 years

Canara Bank Home Loan Super Gain

This loan can be quickly taken for buying a house, flat, or land.
Loan amount is 20 lakhs, and there is no maximum limit.
Period 30 years
Processing fee 0.40% of the loan amount

Canara Bank Cottage – Home Loan Scheme:-

Applicants can take for construction of a new house on their plot.
Individuals or members of self-help groups in rural areas, urban areas, metro areas can apply for this loan, whose annual income is from Rs 1 lakh to Rs 3 lakh.
Period 30 years

Canara Bank Home Loan Documents Required

Identity Proof (Aadhaar Card, Passport, PAN Card, Driving License, Voter ID)
Residence Proof (Aadhaar Card, PAN Card, Voter ID, Electricity Bill, Driving License, Passport)
income certificate

Documents for Salaried Applicants

Latest Salary Sleep
Salary Certificate
Latest Form 16

Documents for Self Employed Applicants

Identity Proof (Passport, Aadhar Card, PAN Card, Driving License, Voter ID)
Residence Proof (PAN Card, Aadhar Card, Voter ID, Electricity Bill, Driving License, Passport)
Nature of employment, type of business, year of establishment, etc.
I T A O/ IT REUTERS OF LAST 3 YEARS
Balance sheet for the last 3 years
2 sizes passport photo of applicant and guarantor

Canara Bank Home Loan Apply Online

Friends, if you want to apply online for Canara Bank Home Loan, you first go to Canara Bank’s official website www. Canara bank. You have to go to com.
On the website’s home page, you will see an option of loan product in the option of personal banking. Click on it.
On the next page, you will get all the loan types.
Now select the type of home loan you want to apply for.
After that, all the Canara Bank Home Loan information will come.
Click on Apply now to apply now
After that, the loan application form will open in front of you.
Now, enter all the information requested in the form for Canara Bank Home Loan and submit the application form.
After submitting the application form, the bank representative will contact you, and the entire loan process will be issued further.

How to apply for Canara Bank Home Loan offline?

To apply for Canara Bank Home Loan offline, go to your nearest Canara Bank branch.
Now, by going to the branch of Canara Bank, you should contact the bank employee or the bank manager.
Bank employee/bank manager will give you all the Canara Bank Home Loan information.
After that, all your documents will be verified by the bank.
After that, you have to take the application form from the bank and fill in all the information asked by the bank in this form.
Attach copies of all your documents with the application form and submit the application form to the bank.
If your home loan is approved, the loan amount will be directly credited to your bank account.