Canara Personal Loan Interest Rate Calculator - Oct 2016

Canara Bank Personal Loan Interest Rates

Last Updated 24th Oct 16

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Canara Bank Personal Loan Interest Rate 13.65% - 13.65%
Lowest EMI Rs. 2,715 per lakh
Loan Tenure From 12 months to 48 months
Loan Amount Min Rs. 100,000 and Max Rs. 300,000
Processing Fee 0.50%
Age Min 21 years and Max 60 years
Prepayment Charges Allowed after 1 EMI's,
Foreclosure Charges Allowed after 1 EMI's, Nil prepayment charges
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 Salaried   Self Employed - Professional   Self Employed - Business 

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Canara Bank Personal Loan

Canara Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from Canara Bank:
  • Nil prepayment charges
  • Quick and easy approval
  • Multiple repayment options
    • Canara Bank has been rated 0/5.0 by customers for its service quality on MyLoanCare
    • Canara Bank has over 6,108 branches in India where you can avail service
    • Canara Bank offers special schemes and discounts for employees of large companies.

    Personal Loan Canara

    Canara Bank personal loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Personal loan interest rates offered by Canara Bank are fixed as well as floating
    • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Canara Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
    • In contrast to this are floating rates which changes with a single change in Canara Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
    Canara Bank Personal Loan Interest Rate depends upon
    • Canara Bank personal loan amount: Personal loan rate in Canara Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: Canara Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. Canara Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

    Canara Bank Personal Loan Charges

    Canara Bank Personal Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Canara Bank allows prepayment of personal loan after paying 1 EMI’s with 1 prepayment charges
    Canara Bank Personal Loan processing fee- Canara Bank asks for a processing fee of 0.50% of loan amount with applicable service tax

    Canara Personal Loan EMI Calculator

    Personal Loan EMI of Canara Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Canara Bank is Rs. 2,715 per lakh loan amount. Personal Loan EMI of Canara Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Canara Bank Personal Loan EMI will be high if you apply for a high loan amount
    What are the benefits of calculating Personal Loan EMI?
    • EMI calculator of Canara Bank Personal Loan helps you to calculate your monthly EMI at different rate of interest
    • Canara Bank Personal Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
    Estimated EMI online by using Canara Bank Personal Loan EMI Calculator.

    Canara Personal Loan Eligibility Calculator

    Personal Loan eligibility criteria Canara Bank
    Eligibility of personal loan in Canara Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
    • Age: Age plays an important role to know your eligibility and repayment capacity. Canara Bank offers personal loan to salaried and self employed individuals at the age of 21 to 60 years
    • Income: Canara Bank Personal Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Canara Bank asks for net monthly income of minimum 15,000.
    • Job stability and Profession: Job stability is important to improve your eligibility for personal loan from Canara Bank. In case you are salaried, you must be in a full time job for at least 36 months of which not less 12 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 0 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your Canara Bank eligibility. If you are working with a reputed company, probability of getting personal loan from Canara Bank increases as the income is considered to be more stable
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: Canara Bank gives you personal loan depending upon your income. Canara Bank gives you an amount ranging from Rs.100,000 to Rs. 300,000. To improve chances of approval, apply for a loan amount that you can comfortably service.
    Estimated eligibility online by using Canara Bank Personal Loan Eligibility Calculator.
    Popular Canara Bank Personal Loan Products:
    • Canara Budget for Salaried
    Maximum Annual Percentage Rate (APR) 14.15% to 14.15%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 100,000
    • Time period: 12 months to 48 months
    • Canara Bank Personal Loan Interest Rate: 13.65% to 13.65%
    • Processing Fee payable to Canara Bank: Upto Rs. 2,000. Current offer for processing fee is 0.50%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,715 for a 48 months Rs. 100,000 loan at 13.65% (lowest rate, longest time period) to Rs. 8,962 for a 12 months Rs. 100,000 loan at 13.65% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 14.15% to 14.15%
    • Total cost payable over loan tenure: Rs. 9,547 for 12 months loan to Rs. 32,326 for 48 months loan
    Canara Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Canara Bank.

    Canara Bank Personal Loan Top up, Transfer

    Transfer of personal loan from another bank to Canara Bank?
    Canara Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Canara Bank
    You can avail additional top-up personal loan from Canara Bank, subject to your eligibility

    Personal Loan Canara documents required

    Personal loan for Salaried employee Canara Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 0 months payslip, 1 years Form 16, 0 months bank statement showing salary credit and any EMI debit

    Compare Canara Personal Loan

    Comparison of Canara Bank Personal Loan with other banks

    Canara Personal Loan in India

    Canara Bank Personal Loan Customer Care Number, Email, Application Status

    Contact Details of Canara Bank Personal Loan Branches
    City Customer Care Number
    Agra 0562-2855003/0562-2525610
    Ahmedabad 079-26579600/ 079-26574852
    Ambala 0184-2251033
    Anand 079-26579600/ 079-26574852
    Aurangabad 0712-2567296/ 0712-2567199
    Bangalore 080-25589520/ 080-25588641
    Bhilai 07936-2443115
    Bhilwara 0141-2222744
    Bhiwadi 0712-2567296/ 0712-2567199
    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
    Dehradun 0135-2657795
    Delhi 011-26418058/ 011-26293209
    Durg 07936-2443115
    Faridabad 0124-2657502/ 0124-2657528
    Gandhinagar 079-26579600/ 079-26574852
    Ghaziabad 0562-2855003/0562-2525610
    Goa 0832-2232013
    Greater Noida 011-26418058/ 011-26293209
    Gurgaon 0124-2657502/ 0124-2657528
    Guwahati 0361-2466817/ 0361-2340364
    Gwalior 0731-2573815/ 0731-2573821
    Hyderabad 040-23436915
    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
    Madurai 0452- 2330335/ 0452-2335988
    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
    Vadodara 079-26579600/ 079-26574852
    Varanasi 0542-2510032
    Vijaywada 0866-2970201
    Vizag 0891-2547920
    *My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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Canara Personal Loan News - Oct 2016
26th Jul 16 Canara Bank Q1 profit tanks 52% to Rs 229 cr
As per the results of Q1FY17, Canara Bank reported a decline of 52.2 percent in its Net Profit to Rs 229 Crore. Net Interest Income of the bank declined by 8.3 percent to Rs 2,307.4 Crore in the quarter ended June 2016 from Rs 2,516.5 Crore in year-ago period due to weak loan growth. Advances declined by 0.9 percent to Rs 3.21 lakh Crore while deposits declined by 1.4 percent to Rs 4.65 lakh Crore when compared on yoy basis . Other income (non-interest income) increased by 42.4 percent to Rs 1,584.65 crore while operating profit fell 9.2 percent to Rs 1,819 Crore when compared on yearly basis. Provisions for bad loans increased sharply by 76.4 percent sequentially to Rs 1,492.92 crore but increased 9.8 percent on yearly basis. Asset quality showed sign of weaking as Gross NPA increased 31 basis points sequentially to 9.71 percent and Net NPA increased by 27 basis points to 6.69 percent in June quarter.