Get Instant quotes on Canara Bank personal loans. Find best Interest rates on Canara Personal loans 2014. A simple Personal Loan Scheme for the benefit of salaried class / businessmen / professionals.
Loan scheme to individuals for purchase of brand new durable utility articles, home appliances including furniture, computers / Laptops, electronic gadgets especially to the staff of corporate bodies and others.
Quantum of Loan:
|Salaried Persons||75% of the invoice value or 15 months of net salary or Rs.1,00,000/-, whichever is less.|
|Professionals and other non-salaried individuals||75% of the invoice value or to the extent of 50% of their annual net income in the immediate previous year or Rs.1,00,000/- whichever is less.|
Rate of Interest on Personal loan of Canara Bank
- Repayable in 36 months by equated monthly instalments.
- Repayment will commence from the month following the month in which loan is disbursed.
- No prepayment penalty charged.
- Hypothecation of the articles purchased out of the Bank loan.
- Suitable personal guarantee / co-obligation
- However, the next higher authority may waive such personal guarantee / co-obligation depending upon merits of each case.
Processing Charges: 1 % of the loan amount with a minimum of Rs. 250/-
During the pendency of first loan, second loan also considered subject, within the overall eligibility, subject to there being no overdues in earlier loan.
Insurance is waived
Documents to be submitted:
- Prescribed Loan Application with 2 copies of passport size photographs
- Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years.
- Proforma Invoice of the article proposed to be purchased
- Arrange for a suitable Co-obligant / guarantor acceptable to the Bank
For more details, please visit our nearest branch or call toll free no. 1800 425 0018.
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