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# Canara Personal Loan EMI Calculator - May 2017

Last Updated 23rd May 2017

## Canara Bank Personal Loan Calculator

Lowest EMI on Canara Bank Personal Loan - Rs. 2,715 per lakh

Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,785 Rs. 3,401 Rs. 2,309
300,000 Rs. 14,354 Rs. 10,202 Rs. 6,926
500,000 Rs. 23,924 Rs. 17,004 Rs. 11,544
1,000,000 Rs. 47,848 Rs. 34,008 Rs. 23,087
Personal Loan EMI Calculator
Rs.

### Factors affecting Canara Personal Loan EMI

• Borrower age should be between 21 years to maximum 60 years.
• Maximum personal loan amount offered by Canara Bank is upto Rs. 300,000.
• Interest rates range from 13.65% to 13.65% depending upon customer profile, loan amount and other factors.
• Processing fee in Canara Bank may be 0.50% of loan amount.

### Canara Personal Loan EMI

• Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Canara Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With Canara Bank offering Personal Loans with loan tenure upto 4 years, the loan EMI can be as low as Rs. 2,715 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by Canara Bank are as low as 13.65%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### Canara Bank Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Canara Bank Personal Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 100,000 to Rs. 300,000

r = Rate of interest per month. Current rate is 13.65%

n = tenure in month. For Canara Bank, this can be 48 months

### Personal loan EMI calculator Canara - How it works?

• Canara Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
• Canara Bank personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Personal Loan EMI - EMI Changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. Canara gives you two options:
• Reduce the amount of EMI and keep your loan tenure same
• It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Canara in this option.

#### Frequently Asked Questions on Canara EMI Calculator

What is the lowest EMI per lakh offered by Canara Bank on personal loan?

Canara Bank offers personal loan at 13.65% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,715.

Can I prepay my Canara Bank personal loan?

Canara Bank offers you an option of prepayment after 1 months at Nil prepayment charges.

Is there any processing charge on personal loan from Canara Bank?

Personal Loan from Canara Bank charges a processing fee of 0.50%.

#### Canara Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0562-2855003/0562-2525610
Ambala 0184-2251033
Anand 079-26579600/ 079-26574852
Bangalore 080-25589520/ 080-25588641
Bhilai 07936-2443115
Bhilwara 0141-2222744
Bhopal 0755-2575631/ 898-998-9210
Bhubaneswar Cuttack 0674-2392612/ 0674-2390807
Bikaner 0141-2222744
Chandigarh 0172-2605243/ 0172-2602245
Chennai 044-24327025/ 044-24346038
Cochin 1800-425-0018
Coimbatore 0422-2558410
Delhi 011-26418058/ 011-26293209
Durg 07936-2443115
Gandhinagar 079-26579600/ 079-26574852
Goa 0832-2232013
Greater Noida 011-26418058/ 011-26293209
Gurgaon 0124-2657502/ 0124-2657528
Guwahati 0361-2466817/ 0361-2340364
Gwalior 0731-2573815/ 0731-2573821
Indore 0731-2573815/ 0731-2573821
Jabalpur 0731-2573815/ 0731-2573821
Jaipur 0141-2222744
Jalandhar 0181-2243322/ 0181-2243322
Jodhpur 0141-2222744
Kanpur 0542-2510032
Karnal 0184-2251033
Kolhapur 0712-2567296/ 0712-2567199
Kolkata 033-22831511/ 033-22806061
Kota 0141-2222744
Kozhikode 1800-425-0018
Lucknow 0522-2302604/ 0522-2303802
Ludhiana 0181-2243322/ 0181-2243322
Meerut 0121-2531113
Mehsana 079-26579600/ 079-26574852
Mohali Sas Nagar 0172-2605243/ 0172-2602245
Mumbai 022-26728366/ 022-26728309
Mussoorie 0135-2657795
Nagpur 0712-2567296/ 0712-2567199
Nashik 0712-2567296/ 0712-2567199
Noida 011-26418058/ 011-26293209
Noida Extn 011-26418058/ 011-26293209
Panipat 0184-2251033
Patna 0612-2321047/ 0612-2320559
Pondicherry 1800-425-0018
Pune 020-24478405/ 020-24452828
Raipur 07936-2443115
Rajkot 079-26579600/ 079-26574852
Ranchi 0651-2331752
Rohtak 0184-2251033
Roorkee 0135-2657795
Salem 0427-2330811
Shimla 0177-2629639
Sonepat 0184-2251033
Surat 079-26579600/ 079-26574852
Trichy 0431-2415475
Udaipur 0141-2222744