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Canara bank home loan interest rates start from 6.90% going up to 10.05%. The bank offers home loan tenures of up to 30 years. With a processing fee of as low as 0.50% on the loan amount, it is one of the most preferred home loan options in the country. Canara bank home loans can be availed by both salaried and self-employed individuals. The loan can be used towards a home purchase, home construction and also renovation.
Canara bank home loan interest rates are based on Repo Linked Lending Rate (RLLR).
Here are the interest rate details applicable on Canara bank home loans:
Canara home loan
6.90% to 8.90% p.a.
Canara home loan plus
7.45% to 9.50% p.a.
Canara home improvement loan
9.40% to 11.45% p.a.
Canara mortgage loan
9.95% to 12.00% p.a.
Canara site loan
7.95% to 9.00% p.a.
Canara home loan secure
The table below provides additional details on Canara home loans:
Canara Bank Home Loan Interest Rates 2022
6.90% – 10.05%
Up to 30 years
As per the applicant’s profile
0.5% of the loan amount
Canara Bank is known to offer a wide range of home loan schemes to cater to different consumer requirements. These include:
These loans can be used for:
Canara home loans are:
Here are the details of the home loan schemes offered by Canara Bank:
Canara Site Loan
Canara Home Loan Plus
Canara Bank Home Improvement Loan
Here are some of the key features of Canara home loans:
Canara Bank offers a number of home loan schemes, each offering some unique benefits. Each of the home loans has its eligibility criteria. Here are a few common requirements to be met:
Indian residents or Non-Resident Indians (NRIs)
Salaried or Self Employed
18 to 70 years
750 and above
Depending on the borrower profile and loan application
Minimum 3 years
Home loan borrowers can apply for Canara home loans online through the below-mentioned steps:
Canara Bank, one of the leading public sector banks in India has recently revised its home loan rates as per repo rate linked lending rate (RLLR) and the base rate. This makes it one of the most preferred banks for home loans in the country.
1. How can I transfer my existing home loan to Canara Bank?
You can transfer your existing home loan to Canara Bank by applying for the balance transfer facility. To apply for it, you can reach out to the bank executives who can offer more details on the interest rate and other loan terms.
2. Why should I use Canara bank balance transfer for home loans?
Canara bank home loan balance transfer facility can help in saving the overall cost of the loan since the bank offers one of the most competitive interest rates on home loans in India.
3. Can I apply for a home loan from Canara Bank online?
Currently, Canara bank does not have a direct online application for home loans. While the initial application can be made online, the remaining process has to be done through bank executives and offline.
4. Does Canara bank charge additional interest on loans borrowed for purchasing a second home?
No, the bank does not charge any additional interest on a loan borrowed for a second property. The rates are the same as ongoing home loan interest rates.
5. How do I connect with Canara bank customer care for the resolution of my home loan queries?
Canara Bank customer care executives for home loans can be contacted using the toll-free number 1800-425-0018 from anywhere in India.
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