Canara Bank
Home Loan
Canara Bank Home Loan can fulfil your dream - If You are planning to purchase a ready to move in home or build one from scratch. Apply Online Now at 7.15%
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Interest Rate7.15% p.a
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Loan AmountUp to ₹40Lac
| Feature | Details | Benefit |
|---|---|---|
| Interest Rate | Starting from 7.15% p.a. | Competitive |
| Processing Fee | 0.50% + GST | Lowest in Market |
| Prepayment Charges | NIL for floating rate | No Penalty |
| Legal & Technical Charges | ₹10,000 - ₹15,000 | High Limit |
- ₹20 Lac
- ₹30 Lac
- ₹40 Lac
- ₹60 Lac
- ₹90 Lac
- ₹1 Crore
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Loan Amount₹20 Lac
-
Interest Rate7.15% p.a.
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Monthly EMI₹15,687
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Loan Amount₹30 Lac
-
Interest Rate7.15% p.a.
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Monthly EMI₹23,530
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Loan Amount₹40 Lac
-
Interest Rate7.15% p.a.
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Monthly EMI₹31,373
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Loan Amount₹60 Lac
-
Interest Rate7.15% p.a.
-
Monthly EMI₹47,060
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Loan Amount₹90 Lac
-
Interest Rate7.15% p.a.
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Monthly EMI₹70,590
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Loan Amount₹1 Crore
-
Interest Rate7.15% p.a.
-
Monthly EMI₹78,433
| Scheme | Interest Rate (% p.a.) | Key Features |
|---|---|---|
| Regular Home Loan | 7.15% | Up to 90% LTV; 30-yr tenure |
| Plot Loan | 7.95% | Plot Loan |
| Non Residents Indian Loan | 8.50% | NRIs Housing Loan |
| Home Renovation Loan | 7.40% | Renovation Loan |
| Home Construstion Loan | 7.40% | Home Construstion Loan |
| Balance Transfer | 7.40% | Transfer existing loans |
| Note: Interest rates shown are for applicants with CIBIL score ≥750. Rates may vary based on credit profile and loan amount. Check interest rates for all loan types and CIBIL scores → |
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Canara Bank Home Loan Approved Profiles
Canara Bank Approved Real Estate Projects
Home Loan Offers New Schemes
Luxury Stay @ Taj Hotel
| Canara vs SBI Canara vs ICICI Canara vs Axis Canara vs PNB |
| Canara Bank vs SBI Bank Home Loan Comparison | |||
|---|---|---|---|
| Features | Canara Bank | SBI Bank | Winner |
| Interest Rate | 7.15% p.a. | 7.25% p.a. | Canara Bank |
| Processing Fee | 0.50% + GST | 0.35% + GST | Canara Bank |
| Max Loan Amount | ₹10 Crores | ₹10 Crores | Tie |
| Prepayment Charges | NIL (Floating) | NIL (Floating) | Tie |
| Branch Network | 10403+ | 16000+ | SBI Bank |
Canara Bank Advantages over SBI:
|
| Canara vs ICICI Bank Home Loan Comparison | |||
|---|---|---|---|
| Features | Canara Bank | ICICI Bank | Winner |
| Interest Rate | 7.15% p.a. | 7.4% p.a. | Canara Bank |
| Processing Fee | 0.50% + GST | 0.50% + GST | Tie |
| Max Loan Amount | ₹10 Crores | ₹10 Crores | Tie |
| Prepayment Charges | NIL (Floating) | 2% + GST | Canara |
| Branch Network | 10403+ | 7,066+ | Canara |
Canara Bank Advantages over ICICI:
|
| Canara Bank vs Axis Bank Home Loan Comparison | |||
|---|---|---|---|
| Features | Canara Bank | Axis Bank | Winner |
| Interest Rate | 7.15% p.a. | 7.8% p.a. | Canara Bank |
| Processing Fee | 0.50% + GST | 0.50% + GST | Tie |
| Max Loan Amount | ₹10 Crores | ₹10 Crores | Tie |
| Prepayment Charges | NIL (Floating) | 2% + GST | Canara Bank |
| Branch Network | 10403+ | 5,706+ | Canara Bank |
Canara Bank Advantages over Axis:
|
| Canara Bank vs PNB Bank Home Loan Comparison | |||
|---|---|---|---|
| Features | Canara Bank | PNB Bank | Winner |
| Interest Rate | 7.15% p.a. | 7.4% p.a. | Canara Bank |
| Processing Fee | 0.50% + GST | 0.50% + GST | Tie |
| Max Loan Amount | ₹10 Crores | ₹10 Crores | Tie |
| Prepayment Charges | NIL (Floating) | 2% + GST | Canara Bank |
| Branch Network | 10403+ | 10,189+ | Canara Bank |
Canara Bank Advantages over PNB:
|
home buying journey smooth and affordable.
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Rate of interest7.15% p.a.Competitive rates
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Tenure1 - 30 yearsFlexible duration
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Processing fee0.50%Minimal charges
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Loan amountRs.1 lakh - Rs.40 lakhWide range
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Prepayment ChargesNilNo penalties
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Foreclosure ChargesNilComplete freedom
Canara Bank Home Loan features a range of mortgage products to suit salaried, self-employed, non-salaried, and NRI customers. The bank has competitive interest rates, low processing fees, and an Home Loan EMI calculator and also offers benefits such as balance transfers and top-up loans, making the cost of financing a home extremely affordable and accessible.
Interest Rates, Processing Fee, and Loan Quantum
| Category |
Details |
| Interest Rate |
7.15% p.a. to 10.25% p.a. (floating) |
| Loan Amount |
No upper limit, subject to income and property value. Eligibility is up to 72 times the last drawn monthly gross salary or 6 times the average gross annual income for non-salaried individuals. |
| Tenure |
Up to 30 years or until the borrower turns 75 years old, whichever is earlier. |
| Processing Fees |
0.50% of the loan amount. Minimum fee: Rs.1,500. Maximum fee: Rs.10,000. |
Loan Quantum
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Salaried applicants: Up to 72 times monthly gross salary (up to 96 times in select cases).
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Self-employed: Up to 6 times annual income (up to 8 times in select cases).
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Renovation/furnishing: Up to Rs.15 lakh for repairs; furnishing enhancement up to 25% of the loan or Rs.50 lakh, whichever is lower.
Eligibility for Canara Bank Home Loan
Following are the Canara Bank Home Loan Eligibilty criteria
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Age: The age of the applicant should be between 21 years and 70 years.
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Income: A salaried person should have a minimum salary of Rs. 25000/month and for self-employed people it should be 3 lakh to 5 lakh per annum.
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The credit score of the applicant should be 750 or above.
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Loan-to-Value (LTV): Usually up to 80 to 90%, depending on loan type.
Documents required for Canara Bank Home Loan
The following documents are required:
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Identity proof: Passport, PAN card, or Aadhar card.
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Address proof: Aadhar card and any utility bill, such as a gas or electricity bill.
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Income:
Salary slip, six-month bank statement, and Form 16 for a salaried individual.
Bank statements and ITRs for self-employed people.
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Proof of property: Plot layout, builder's agreement, and sale document
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Applicant and co-applicant passport-sized photos.
Comparison of Canara Bank Home Loan
| Bank |
Interest Rate (p.a.) |
Processing Fees |
Maximum Loan Tenure |
| Canara Bank |
7.15% onwards |
0.50% of loan amount (min. Rs.1,500; max. Rs.10,000) |
Up to 30 years |
| State Bank of India (SBI) |
7.155% onwards |
0.35% of loan amount (min. Rs.2,000; max. Rs.10,000) |
Up to 30 years |
| HDFC Bank |
7.15% onwards |
Up to 0.50% of loan amount (min. Rs.3,300) |
Up to 30 years |
| Union Bank of India |
7.4% onwards |
0.50% of loan amount (max. Rs.15,000) |
Up to 30 years |
| Bank of Baroda |
7.15% onwards |
min. Rs.8,500; max. Rs.25,000 |
Up to 30 years |
| Kotak Mahindra Bank |
7.7% onwards |
2% of loan amount |
Up to 30 years |
Canara Bank Home Loan EMI Calculations
| Interest Rate (p.a.) |
Loan Amount |
10-Year Tenure |
20-Year Tenure |
30-Year Tenure |
| 8.40% |
Rs. 25,00,000 |
Rs. 30,958 |
Rs. 21,326 |
Rs. 19,002 |
| 8.40% |
Rs. 50,00,000 |
Rs. 61,916 |
Rs. 42,652 |
Rs. 38,004 |
| 8.40% |
Rs. 75,00,000 |
Rs. 92,874 |
Rs. 63,978 |
Rs. 57,005 |
Different types of home loans offered by Canara Bank
| Loan Scheme |
Purpose/Description |
| Canara Housing Loan |
A standard home loan for purchasing or constructing a new or old house/flat, including a second house. It can also be used for repairs, renovations, and extensions. |
| Canara Home Improvement Loan |
Designed for financing home repairs, renovations, or the purchase of furnishings and appliances. |
| Canara Kuteer |
A scheme aimed at individuals with a low household income (up to Rs. 3 lakhs) to facilitate the purchase or construction of a new house. |
| Canara Site Loan |
Specifically for the purchase of a residential site (plot of land) from government-approved authorities or projects. |
| Canara Home Loan Plus |
An additional loan for existing Canara Bank home loan borrowers to meet other domestic, educational, or medical expenses. |
| Canara Home Loan for NRIs |
Tailored for Non-Resident Indians (NRIs) to buy or construct a house in India, or for renovations and upgrades. |
| Housing Loan to Agriculturists |
A loan product for individuals engaged in agricultural and allied activities for the purchase, construction, or renovation of a house. |
| Canara Jeevan |
A reverse mortgage loan for senior citizens (above 60 years of age) who own a self-occupied residential property. The loan provides periodic payments and is repaid upon the death or sale of the property. |
| Canara Home Loan - Super Gain |
A loan with a special feature allowing borrowers to deposit and withdraw surplus funds in a linked savings account to reduce the interest burden. |
| Pradhan Mantri Awas Yojana (PMAY) |
A government-sponsored scheme to provide affordable housing to the urban and rural poor, including those in the Economically Weaker Section (EWS) and Lower Income Group (LIG) categories. |
Steps to apply for Canara Bank home Loan
These are the steps to apply for a Canara Bank home loan.
Step 1: Check your home loan eligibility for a Canara Bank home loan as mentioned by Canara Bank such as age, income,and property type.
Step 2: Calculate the EMI of the amount you have to take as a loan with the help of an Canara Bank Home Loan EMI calculator available on the website or by visiting the branch in person.
Step 3: Fill the application form online or offline as you find suitable.
Step 4: Pay processing fees and wait for the verification process of the bank of your documents and property.
Step 5: The loan will be disbursed once verified in your account.
Customer Care & Grievance Redressal
National Toll-Free Helpline: 1800 1030 (24×7) for home loan queries.
WhatsApp Support: 90760 30001 for quick customer interaction.
NRI Support:
Emails: sms.support@canarabank.com for written queries.
Grievance escalation is handled via branch → regional/circle office → nodal officer, aiming to resolve issues within 30 days.
- Canara Bank Home Loan Interest Rate
- Canara Bank Home Loan Eligibility Calculator
- Canara Bank Home Loan Documents Required
- Canara Bank Home Loan EMI Calculator
- Canara Bank Home Loan Statement
- Canara Bank Home Loan Prepayment Calculator
- Canara Bank Home Loan Processing Fees
- Canara Bank Home Loan Process
- Canara Bank Balance Transfer
- Canara Bank PMAY BANK
- Canara Bank Approved Projects
- Canara Bank NRI Home Loan
- Canara Bank Home Loan Against Property
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Disclaimer
The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.