Canara Bank Home Loan – Interest Rates 2016, Eligibility

Canara Bank Home Loan- Get details on interest Rates, MCLR Rates. Check Eligibility, Documents, processing fees, loan amount, minimum salary, fees & charges online of canara bank online.

Canara Bank Home Loan Details

Interest Rates 9.65% – 9.75%
Processing Fees 0.50%
Pre payment Charges Nil
Loan Amount upto 90% of market value
Eligibility Age Should not be more than 70 Years
Lowest EMI Rs.851 per lac
Min. Income Rs.12000/- p.m
Loan Repayment 30 years

(One Year MCLR: 9.45% with effect from 01/06/2016)

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Canara Bank MCLR Rates June 2016

Effective from June 1, 2016, the tenor linked MCLRs of the Bank are revised as under:

S. NO. TENOR OF MCLR MCLR
1 Overnight MCLR 9.00%
2 One Month MCLR 9.10%
3 Three Month MCLR 9.15%
4 Six Month MCLR 9.20%
5 One year MCLR 9.35%

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Required Documents / Formalities :

  • Required Loan Application with 2 passport size photos of applicant / guarantor
  • Sale Deed
  • Copy of the approved plan for the proposed construction / extension / addition
  • Comprehensive cost estimate / valuation report from Bank’s Panel Chartered Engineer / Architect
  • Allotment letter of Co-operative Housing Society / Apartment Owners’ Association / Housing Board / NOC from the Society / Association / Builders / Housing Board
  • Legal Inspection Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
  • If salaried person, Salary Certificate and Form No.16 required
  • In case of Non Salaried, IT Returns for the past two years required
  • A brief note on the nature of business, year of establishment, type of organization, etc., (in case of self-employed)
  • Balance Sheet and P & L Account for the past three years (in case of self-employed)

For more details, please visit Canara Bank earest branch or call to toll free no of canara bank. 1800 425 0018.  

Other available Products of Canara Bank
Canara Bank Personal Loan
Canara Bank Car Loan
Canara Bank Credit Card
Canara Bank Education Loan

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