Canara Bank Home Loan details-2025
Canara Bank home loan is ideal for buying, building, or renovating your home. It offers attractive interest rates, easy eligibility, and quick approvals. You can also opt for a top-up loan to meet extra financial needs at a competitive home loan top-up interest rate. Loan tenures are flexible, going up to 30 years, making repayments convenient.
Canara Bank Home Loan
Welcome to our complete guide on Canara Bank home loans, offered by the trusted Bank of Canara, a renowned financial institution in India known for its reliable services. Canara Bank Ltd provides home loan solutions tailored for salaried individuals, self-employed professionals, and NRIs, helping aspiring homeowners achieve their dream of owning a home.
Apart from regular home loans, Canara Bank also offers home loan top-up options to meet additional financial requirements. You can check your eligibility with the home loan top up eligibility calculator, learn about the applicable home loan top up interest rate, and understand the documents required for a home loan top up.
This guide will help you explore Canara Bank Ltd various schemes, interest rates, and repayment options, making it easier to select the right home loan solution that fits your needs.
Canara Bank Home Loan Interest Rates
Canara Bank offers competitive interest rates on its home loan schemes. The interest rates may vary based on the specific loan scheme and tenure.
| Rate of Interest | Max funding | ||
| Credit Score | ROI | Loan Amount | Funding % |
| > 800 | 7.45% | >=30 Lakh | 90% |
| 772-799 | 7.45% | ||
| 751-771 | 7.75% | 30<75 Lakh | 80% |
| 730-750 | 7.75% | ||
| 701-729 | 8.20% | 75 Lakh> | 75% |
| – | – | ||
| – | – | ||
| Apply Now | |||
Canara Bank Home Loan Features
| Feature | Details |
| Purpose | To meet domestic needs, medical expenses, educational expenses of children/dependents, or unforeseen contingencies. Not applicable for speculative purposes. |
| Loan Quantum | Salaried Individuals: Up to 24 months’ gross salary, maximum ₹50 lakhs.
Other Individuals: Up to 2 times the 3-year average gross income, maximum ₹50 lakhs. |
| Margin & Net Take Home | Margin: NIL
Net Take Home: 25% for salaried applicants, 30% for non-salaried applicants |
| Processing Charges | 0.50% of the loan amount (Minimum ₹100, Maximum ₹500) |
| Documentation Charges | ₹100 per lakh or part thereof (Minimum ₹1,000, Maximum ₹25,000) |
| Security | Continuing security of the property mortgaged for the housing loan.
For “Canara Home Loan Plus,” an additional EMT is created. Security is released only on closure of both loans. |
| Repayment Tenure | Either the remaining tenure of the existing housing loan or 180 EMIs, whichever is less.
If the existing housing loan is pre-closed, the “Canara Home Loan Plus” liability must be cleared first. |
Canara Bank Home Loan EMI Calculator
The housing loan EMI is calculated based on your loan amount, tenure, and the lowest interest rate of 7.45% p.a. Before applying, you can estimate your monthly repayment using the Canara Bank net banking or canarabank in internet banking facilities. To get personalized support, you can also locate a Canara Bank near me branch and consult with bank officials to plan your finances effectively and ensure affordable EMIs.
| Loan Amount | 10 Year EMI | 20 Year EMI | 30 Year EMI |
| 10 Lakh | Rs.11,818 | Rs.7,995 | Rs.6,942 |
| 20 Lakh | Rs.23,626 | Rs.15,990 | Rs.13,848 |
| 30 Lakh | Rs.35,454 | Rs.23,985 | Rs.20,771 |
| 40 Lakh | Rs.47,272 | Rs.31,980 | Rs.27,695 |
| 50 Lakh | Rs.59,090 | Rs.39,974 | Rs.34,691 |
How to Apply for a Canara Bank Home Loans
Applying for a Canara Bank Home Loan is a simple process, especially with the availability of online application facilities. Before proceeding with your application, ensure you’ve reviewed all Canara Bank home loans details thoroughly. Here’s a step-by-step guide to help you apply for a Canara Bank Home Loan:
1. Research
Understand the various Canara Bank Home Loan schemes and choose the one that suits your needs.
2. Check Eligibility
Use Canara Bank’s online eligibility calculator to determine your loan eligibility.
3. Gather Documents
Collect all the necessary documents as per the loan scheme and applicant type.
4. Online Application
Visit the Canara Bank official website or use reliable platforms like NoBroker to apply online. You can also check your Canara Bank home loan status online via the official website.
5. Fill Application Form
Provide accurate details and upload the required documents.
6. Application Review
Canara Bank will review your application and may request additional documents if necessary.
7. Loan Approval and Disbursement
Once the application is approved, the loan amount will be disbursed to your bank account.
By following these steps, you can complete the Canara Bank Home Loan application process conveniently and efficiently.
Canara Bank Home Loan Schemes
Canara Bank offers a variety of home loan options to suit different requirements:
-
Standard Home Loan
- Interest Rate: Floating 7.50%–10.25% p.a., Fixed 8.75%–11.00% p.a.
- Processing Fee: 0.50% (Min ₹1,500, Max ₹10,000)
- Purpose: To buy sites sold by State/Central governments, Town Planning departments, or other authorized government organizations. Additional finance is available for constructing a house on the site.
- Repayment Tenure: Up to 10 years
-
Canara Mortgage
- Interest Rate: 10.05%–12.35% p.a.
- Processing Fee: 0.50% (Min ₹5,000)
- Purpose: For non-business purposes to meet immediate financial needs.
- Maximum Borrowing: ₹10 crore
- Repayment Tenure: Up to 10 years
For existing borrowers, additional funding can be availed as a home loan top-up through Canara Bank. You can check your eligibility using the home loan top up eligibility calculator, understand the applicable home loan top up interest rate, and know the documents required for home loan top up before applying at Bank of Canara (Canara Bank Ltd).
Canara Bank Home Loan Eligibility
To be eligible for a Canara Bank Home Loans, certain criteria must be met. The eligibility requirements may vary based on the loan scheme and applicant type. Here are some key factors considered by Canara Bank for home loan eligibility:
1. Age
The minimum age requirement is 18 years, and the maximum age limit is usually 70 years, subject to the borrower’s repayment capacity.
2. Income
Canara Bank assesses the applicant’s income stability and repayment capability to determine the loan amount eligibility.
3. Employment Type
Canara Bank considers the applicant’s employment type, whether salaried, self-employed, or a professional, while evaluating the loan application.
4. Credit Score
A good credit score enhances the chances of loan approval and favorable interest rates. Canara Bank evaluates the creditworthiness of the applicant.
5. Property Documents
The property being financed must meet the legal and technical requirements specified by Canara Bank.
Meeting these eligibility criteria increases the likelihood of getting your Canara Bank Home Loan approved.
Canara Bank Home Loan Details
Canara Bank offers home loans with attractive features and flexible options to make your home-buying journey smooth and affordable. Let’s take a closer look at the essential details of Canara Bank Home Loans:
- Interest Rate: Canara Bank provides competitive interest rates on home loans, ensuring affordability for borrowers with interest rates starting at 8.15%* per annum.
- Loan Amount: Depending on your eligibility, Canara Bank offers a wide range of loan amounts to suit your requirements.
- Processing Fees: Canara Bank charges nominal processing fees for home loan applications.
- Prepayment/Foreclosure Charges: Canara Bank allows prepayment or foreclosure of home loans with minimal charges.
- Maximum Tenure: Canara Bank offers long tenures for home loans, making it easier for borrowers to repay the loan.
- Rate Packages Available: Canara Bank provides various rate packages, including fixed rate, floating rate, and hybrid options, to cater to different borrower preferences.
Documents Required for Canara Bank Home Loan Application
When applying for a Canara Bank Home Loan, you need to submit certain documents. The documentation requirements may vary based on the applicant type and loan scheme. Here are some common documents required:
1. Identity Proof
- PAN Card
- Aadhaar Card
- Passport
- Voter ID
- Driving License
2. Address Proof
- Aadhaar Card
- Passport
- Voter ID
- Utility Bills
- Rental Agreement
3. Income Proof
- Salary slips
- Bank statements
- Income tax returns
- Audited financial statements for self-employed individuals
4. Property Documents
- Sale agreement
- Property title deed
- Approved building plan
- Property tax receipts
5. Other Documents
- Passport-size photographs
- Bank statements
- Employment proof
Submitting accurate and complete documents is crucial for a smooth loan application process.
Canara Bank Home Loan Customer Care
If you have any queries or require assistance regarding Canara Bank Home Loans, you can reach out to their customer care team. Here are the contact details for Canara Bank Home Loan Customer Care:
Feel free to contact them for any information or support related to your Canara Bank Home Loan journey.
How NoBroker Helps You
Applying for a Canara Bank Home Loan becomes much easier with NoBroker. Instead of visiting multiple bank branches or browsing endless pages, NoBroker lets you compare Canara Bank’s home loan offers with other top banks all in one place. You can check interest rates, EMIs, eligibility, and documentation in just a few clicks.
NoBroker’s loan experts provide end-to-end support—from checking your eligibility and preparing documents to submitting your loan application online. The best part? No hidden charges or brokerage fees. With NoBroker, you can save time, effort, and money while securing the best loan deal that fits your budget and needs.
Conclusion
Canara Bank Home Loans provides an excellent opportunity for individuals to fulfil their dream of owning a home. With competitive interest rates, flexible loan options, and a wide range of schemes, Canara Bank caters to the diverse needs of borrowers. By reading this blog, you have gained insights into Canara Bank’s home loan details, interest rates, eligibility requirements, the application process, and customer care contacts. Take advantage of the knowledge shared here and embark on your journey to homeownership with Canara Bank Home Loans.
