Canara Bank Personal Loan Details, Eligibility & Reviews – Public Sector Canara Bank has launched the two new personal loan products for the salaried employees of Government, PSU and Private sectors with lowest interest rate and Instant loan with higher limits up to Rs 30 lacs with No processing fees. These two personal loan products which are Canara Budget- Prime (Govt. Employees) and Canara Budget-Delight (Private Sector Employees). The personal loan is offered with Rate of Interest at 10.55% to 11.55% based on CIBIL or Credit Score of the Borrowers. The Personal Loan will be Instantly Credited if Salary account is maintained with the Bank.

Canara Bank Personal Loan Interest Rate

Loan Eligibility

Canara Budget-Prime :  All the confirmed employees of Central Government/State Government / Personnel from Defence and Paramilitary Forces /PSUs & Autonomous Bodies of Central & State Govt.

Canara Budget-Delight : All the confirmed employees of Reputed Corporates /MNCs / Public & Private Ltd. Companies/Private Institutions / Universities, Reputed
Schools, Reputed Colleges, Reputed Hospitals & IT BT Companies.

Co-obligation of spouse/legal heir of the borrower.

Service Criteria :

Minimum 1 year of service & confirmed in the service.

Net Take Home (NTH)

Minimum Net Take Home Salary (NTH) of borrower should not be less than 25% or Rs. 10,000/- p.m. whichever is higher after meeting instalments of all existing loans and proposed loan.

Repayment Period

Repayable in 84 equated monthly instalments.

Processing Charges

No Processing & documentation charges levied by the bank under these categories of Loan.

Frequently Asked Questions

Can we take personal loan in Canara Bank?

Answer : Yes

How can I check my loan eligibility in Canara Bank?

Answer : Based on CIBIL score and Salary. Maximum Loan amount is Rs 30 lakhs with NTH of 25% or Rs 10,000. Contact the home branch of Canara Bank to know in details.

What is the limit of personal loan in Canara?

Answer : The Maximum limit for Government employees are Rs 30 lakhs and Private sector employees are Rs 20 Lakhs

How much loan can I get from Canara Bank?

Answer : Based on your salary, eligibility, Credit Score and Net Take Home. Maximum Rs 30 Lakhs.

What is the personal loan rate in Canara Bank?

Answer : The rate of interest is based on Credit Score and profile of the borrowers ranges between 10.55% to 11.55% minimum.

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