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.