Canara Bank Home Loan | Interest Rates | Eligibility | Documents | Information

Find all relevant information regarding Canara Bank Housing Loans in India like – Interest Rates, EMI, Calculator, Eligibility, Documents Requirement for taking housing loan.

Purpose of taking home loans form Canara Bank:

For construction / purchase / repairs / additions / renovations of residential house / flat including the purchase of land and construction thereon. For taking over of the Housing Loan liability with other recognized Housing Finance Companies, Housing Boards, Co-operative Banks, Co-operative Societies and Commercial Banks at our prevailing low rate of interest.

Interest Rates – Up to 75 lacs 10.20%, Above 75 lacs 10.45% for all tenure options

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Eligibility Criteria required for Canara Housing loans:

  • Salaried individuals, individuals engaged in business / professionals and self-employed persons. NRIs are also eligible to avail loans without specific permission of RBI.

  • Persons above the age of 55 years are also eligible subject to certain stipulations of RBI.

What is your contribution in total property value or Loan Margin?

Loans upto Rs.20 lacs Loans above Rs.20 lacs
New house / flat
(including those for purchase of site &
construction of house thereon)
20% 20%
Old house/flat 25% 25%
Margin – 25 % for both new and old houses in respect of housing loans for acquiring second house / flat i.e., where the applicant is already owning a house/flat with or without loan.

Required Documents / Formalities :

  • Stipulated Loan Application with 2 passport size photos of applicant / guarantor
  • Sale Deed
  • Agreement for Sale
  • Copy of the approved plan for the proposed construction / extension / addition
  • Detailed 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 Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
  • Salary Certificate and Form No.16 (in case of salaried persons)
  • IT Returns filed for the past two years (in case of non-salaried persons)
  • 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 our nearest branch or call to toll free no. 1800 425 0018.

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