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Canara Bank Personal Loan

Canara Bank Personal Loan

 

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Member's Recomendation

5   0

1 review(s)
Expert Review | Write a Review

  • Maximum Loan Amount
  • Rs. 1 lakh
  • Minimum Loan Amount
  • Rs. 1 Lakh limit
  • Interest Rate(Max)
  • 14 %
  • Interest Rate(Min)
  • 14 %
  • Interest Type
  • Fixed
  • Late Payment Fee
  • No charges
  • Processing Fees
  • 0.5 %
  • Prepayment Charges
  • 2 %
  • Repayment Period (Max)
  • 5 year(s)
  • Repayment Period (Min)
  • 1 year(s)

Features and Benefits of Canara Bank Personal Loan

Purpose:

  • To meet genuine personal needs other than speculative purpose.

Quantum:

  • Salaried- Six months' gross salary or Rs.1 lakh whichever is less.
  • For Non salaried- 50% of average gross annual income of the applicant for last 3 years subject to maximum of Rs.1 lakh
  • Higher quantum also considered selectively.

Repayment:

  • Salaried- In convenient Equated Monthly Instalments upto 60 months.
  • Non salaried- In convenient Equated Monthly Instalments upto 36 months.

Security:

  • Salaried- Normally, Co-obligation is required for loans above Rs.50,000/-. Waivers considered selectively.
  • Non Salaried- Suitable co-obligation is required.

Processing Charges:

  • 0.5% of the loan amount subject to a minimum of Rs.100/- and maximum of Rs.500/-.

Documents Required for Canara Bank Personal Loan



Salaried Individuals

  •    Application form with recent photograph
  •    Latest salary slip and Form 16
  •    Bank statement for last 3 months
  •    Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
  •    Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

  •    Application form with recent photograph
  •    IT returns for last 2 years
  •    Bank statement for last 6 months
  •    Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
  •    Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  •    P&L and Balance Sheet for last 2 years certified/audited by CA
     

User Reviews

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Average user rating

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  • Member's Recomendation

Canara bank is truely for the masses.

By: tina, India | 26 May 2010

Canara bank is truely for the masses. I wanted personal loan at a reasonable rate and they offered me one. However their loan amount for personal loan is very less. Also they should keep good staff wh...[Read]

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