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I recently took out a housing loan from Canara Bank, and the process was relatively easy. Through the loan process, I learned a lot of crucial information related to housing loans. Some of these are Canara Bank housing loan processing charges, documents required, hidden charges you must avoid, etc.
I will be sharing some of those details below; hopefully, these will be helpful to you.
Canara Bank Processing Charges For Housing Loans
Canara Bank charges its customers a nominal fee of 0.50% of the total loan amount. This fee comes with a lower limit of ₹1,500 and an upper limit of ₹10,000. I took my housing loan during a retail loan festival, and thus, the processing fees were waived.
Canara Bank loans come with a few benefits, too, and those are
Most banks these days have prepayment penalties, but Canara Bank doesn’t. So, you don't need to worry about any penalties.
Canara Bank offers reducing balance interest rates. This means that your interest rate is calculated on the diminishing principal amount.
Complimentary credit cards are also a part of Canara Bank housing loans.
The interest rates of loans provided by Canara Bank are pretty low compared to those available with other banks.
You can visit the
Canara Bank official websiteto learn more about the Canara Bank housing loan processing charges.
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A processing fee for a home loan refers to a non-refundable charge imposed by the lender to cover administrative costs related to reviewing and processing the loan application. I have been a customer of Canara Bank for the last 5 years now, so I can help you know what is the processing fee in Canara Bank. I asked about it in detail this year only. However, please ask about it again when you plan to apply for a home loan there as rates change quite often. The Canara Bank home loan processing fee is:
What is the Canara Bank processing fee for home loan?
The Canara Bank Housing Loan Processing Charge is about 0.50%. The amount ranges from Rs 1500 and goes up to Rs 10,000. Till August 31st, 50% of the processing fee will be waived as they are celebrating the Retail Loan Festival. You can visit the bank and clarify the home loan processing fee in Canara Bank before finalising the loan.
You can also visit their official website about home loans to know other aspects:
https://canarabank.com/User_page.aspx?menulevel=1&menuid=3&CatID=21
Get quick disbursal of your home loans from your desired bank through NoBrokerRead More:
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What is the Processing Fee in Canara Bank?
Rukmani
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2023-08-31T15:44:23+00:00 2024-01-03T11:57:12+00:00Comment
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