Find all relevant information regarding Canara Bank Housing Loans in India like – Interest Rates, EMI, 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.
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)
|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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