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Apply Canara Bank Personal Loan at lowest Rate of interest

About Canara Bank

Canara Bank is one of the oldest Banks in India having its headquarters in Bangalore, Karnataka. Being a leading public sector Bank, Canara Bank was established in the year 1906 by Shri Ammembal Subba Rao Pai in the coastal city of Mangalore, Karnataka. Canara Bank boasts of having more than 5727 branches, 9132 ATMs across the country. Canara Bank offers personal loans to their customers to provide much –needed funds during a financial crisis. Personal loan by Canara Bank offered to their customers comes with attractive interest rates, low processing charges, and secure payment options.

Canara Bank provides a range of personal loan products for different needs like marriage, home renovations, medical emergencies, foreign vacations, business developments etc. A personal loan in Canara Bank can get approved in maximum 2-3 days provided the applicant meets all the required documents. Now, getting a Personal loan in Canara Bank is made very simple as the application process is hassle-free to ensure quick approval of the personal loan. Getting a Canara Bank personal loan in Bangalore is very fast as customers can apply online with minimum documentation process, quick loan sanctions, monthly EMI calculators and much more to choose from.

Features of Canara Bank Personal Loans

Canara Bank offers different types of personal loans for customers to meet their own financial needs. The personal loan offered by Canara Bank to each applicant depends on their documentation, requirement, repayment history, and CIBIL score. Canara Bank personal loan comes with the following attractive features.

  • Canara Bank personal loans are long tenure loans where you can get up to a maximum of 5 years
  • Canara Bank offers easy and convenient loan repayment options based on your convenience.
  • Canara Bank Personal Loan offers attractive interest rates, smaller EMIs and easier for the customer to repay the personal loan amount.
  • Canara Bank offers personal loans with easy documentation process keeping 100% transparency, lowest processing fee, and easy repayment options.
  • Canara Bank ensures quick personal loan approval within 10 seconds for the first time loan seekers.
  • Canara Bank offers multiple personal loan options depending on customer requirements and loan eligibility
  • Customers can apply for a Canara Bank Personal loan online including online tracking of your loan application status.
  • Canara Bank provides 24/7 customer support with dedicated customer care services to get your queries and doubts resolved online.

How to apply Canara bank personal loan online in Bangalore

apply Canara Bank personal loan
Canara Bank personal loan interest rate in Bangalore as on
Service type Service Charges
Interest rate 12.70% to 13.70%
Loan Processing charges 0.5% of the loan amount
Prepayment Allowed after 1 EMI's
Foreclosure Charges Allowed after 1 EMI's, Nil prepayment charges
Required documents to apply Canara Bank Personal Loan in Bangalore
  • Identity Proof: copy of passport/voter ID card/ driving license
  • Address Proof: Copy of ration, telephone or electricity bill/rental agreement/passport
  • Bank statement for last 3 months/passbook for last 6 months
  • Latest salary slip / current dated salary certificate with latest form 16
  • Photograph and PAN card photocopy
  • Education proof / Employment proof
Features of Canara bank personal loan

Canara Bank provides its customers 3 types of personal loans based on their unique requirements like income level, loan applied, loan tenure and type of profession.

  • Canara Budget Personal loan: This type of personal loan is offered to corporate employees and government employees.
  • Canara Teachers Personal Loan: This type of personal loan is offered to both teaching and non-teaching staff working in educational institutions like schools and college.
  • Canara Consumer Personal Loan: This type of personal loan can be availed by salaried persons, businessmen, and self-employed professionals.

Frequently Asked Questions(FAQ)

Canara Bank Frequently Asked Questions(FAQ)

What are the types of personal loans does Canara Bank?

There are 3 types of personal loans offered by Canara banks like Canara Budget, Canara Teachers’ loan, and Canara Consumer loan.

Am I eligible for Canara Budget Personal loan?

If you are a confirmed employee of central or state government, reputed PSUs, corporate companies and self-employed professionals.

What is the maximum loan eligibility for Canara Budget Personal loan?

You are eligible to get 6 months’ gross salary or maximum amount of 3 Lakhs.

What are the processing fee and rate of interest for Canara budget personal loan?

For salaried employees, the rate of interest is base rate +4.005 and base rate + 5% for no salaried persons. Customers need to pay 0.5% of the loan amount as processing fee.

What is the rate of interest for Canara Teacher’s loan?

Usually 1% of the loan amount

Can I apply for Canara Bank Personal loan online?

Yes, people can apply for Canara Bank online and track the loan application status as well.

Who can avail Canara Consumer loan including the rate of interest?

This loan can be availed by salaried persons, businessmen, and working professionals. The rate of interest is base rate +4.00%

Does Canara Bank charge personal loan prepayment charges?

Yes, Canara Bank charges a nominal fee for pre closure of personal loans.

What are the minimum and maximum personal loan can I avail??

For secured loans, minimum and maximum loan amount starts from Rs.10, 000 to Rs.5 Lakhs and for unsecured loans, it starts from Rs. 10, 000 to Rs. 10 Lakhs.

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