Canara Bank Home Loan

Canara Bank Home Loans starting at just 8.4% p.a.

Canara Bank offers attractive interest rates on home loans starting at 8.4% p.a..The loan tenure can be extended up to 30 years, ensuring a Read More...

Use the loan for various needs - buying a new house (ready-built, under construction, or pre-owned), building a new home, or renovating your existing one. You can even switch your existing home loan from another bank to Canara Bank.

Canara Bank Home Loan Highlights

Loan Amount	As per the eligibility and specified LTV, No upper Cap
Tenure	Upto 30 years
Rate of Interest	8.4% onward
Processing Fee	0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-
Prepayment/Foreclosure Charges	Nil
Max Tenure	30 years
Foreclosure Charges	Nil

Canara Bank Home Loans Comparison Table

Compare Canara Bank Home loan interest rates with other lenders to find the best deal. See how Canara Bank competitive rates stack up in our comprehensive comparison table.

Name of Lender	Amount Up to	Interest Rate	Tenure
Axis Bank	₹10 cr	8.75% Onwards	Up to 20 years

Canara Bank Home Loan EMI calculator

Enter the loan amount, interest rate, and loan tenure into the Canara Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.

Principal: ₹50,00,000

Rate of Interest: 9%

Tenure (in months): 120

EMI: ₹63,337.89

Total interest: ₹26,00,546.8

Total principal: ₹50,00,000

Canara Bank Home Loans Eligibility

Canara Bank Standard Home Loan

Canara Kuteer Loans

Canara Bank Housing Loans to Agriculturists

Canara Bank Site Loan

Canara Bank Home Loans for NRIs

Canara Bank Standard Home Loan

Canara Bank provides home loan options to applicants for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, Purchase of Plot, Plot + Construction of a House, construction of a house, extension of house and repair/renovation.

Canara Bank Home Loan Schemes

Canara Bank provides a range of home loan schemes with interest rates starting from 8.4%, including options like Regular Home Loan with benefits for women and no pre-payment fees, Rural Housing Loans for people in rural areas, Home loan balance transfer for home loan borrowers. Each scheme includes a processing fee of 0.5% with varying minimum and maximum amounts.

Loan Type	Interest Rate (p.a.)	Processing Fee	Special Features
Canara Bank Standard Home Loans	From 8.4% onwards	PF: 0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation Charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-	No pre-payment charges Age 18-60 eligible
Canara Kuteer Loans	From 8.4% onwards	PF: 0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation Charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-	No pre-payment charges Age 18-60 eligible Max Quantum: Rs.5.00 Lakhs for annual income upto Rs.1.00 Lakh Max Quantum: Rs.10.00 Lakhs for annual household income above Rs.1.00 Lakh and upto Rs.3.00 Lakh
Canara Bank Housing Loan for Agriculturists	From 8.4% onwards	PF: 0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation Charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-	No pre-payment charges Age 18-60 eligible Scheme is for individuals involved in agriculture and related activities
Canara Bank Home Loans for NRIs	From 8.4% onwards	PF: 0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/- Documentation Charges: Rs.100/- per Lakh, minimum of Rs.1000/- and maximum of Rs.25000/-	Non- Resident Indian Upto 4 times the Annual Gross Income, and upto 5 times in selected cases.

Canara Bank Home Loan Processing Fees and Charges

Canara Bank Home Loan Processing Fees

Canara Bank Home Loan Application charges

Canara Bank Home Loan Prepayment charges

Canara Bank charges a nominal processing fee of 0.5% of the loan amount with minimum of Rs.100/- and maximum of Rs.500/-. The bank also charges a documentation of Rs.100/- per Lakh of the loan amount with minimum of Rs.1000/- and Maximum Rs. 25000/-.

How to Apply for Canara Bank Home Loan?

Prospective borrowers interested in an Canara Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the Canara Bank Official Website

Visit the Canara Bank Home Loan official website.
Click on Apply now
Enter the necessary details to determine the eligible loan amount.
Complete the required information on right side and tap "Submit".

Documents Required for Canara Bank Home Loan

Following is the list of documents required for different categories of customers

Canara Bank Home Loan list of documents for Salaried

Canara Bank Home Loan list of documents for Self-employed professionals

Canara Bank Home Loan list of documents for Self-employed

Canara Bank Home Loan list of documents for Farmers

Canara Bank Home Loan list of documents for NRIs

Canara Bank Home Loan list of documents for Salaried

Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
A Cheque for The Processing Fee for The Loan Application.
Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home

Allotment letter copy/Buyer agreement
Payment receipt made to the developer

For Resale Home

Title deeds including previous chain of property documents
Agreement to sell copy
Initial payment receipt made to the seller

For Construction

Title deed of plot
Copy of the plan approved by Local Authorities
No encumbrance proof on the property
The total estimate of construction by a Civil Engineer/Architect

Canara Bank Home Loan Balance Transfer

Canara Bank offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the bank' instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

Canara Bank Home Loan Amount (LTV Ratio):

Loan Amount	Loan Percentage
Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh - Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Canara Bank Home Loan Customer Care

Canara Bank Home Loan Customer Care Toll-Free Number
Phone numbers: 18001030
Whatsapp: 9076030001

Canara Bank Home Loan FAQ’S

Here are some of the frequently asked questions with regards to Canara Bank Home Loan

What is the current interest rate for Canara Bank home loans?

Canara Bank offers home loans starting from 8.4% p.a., varying based on the applicant's credit profile.

How do I calculate the interest cost for my Canara Bank home loan?

You can determine the interest cost using the Canara Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.

What factors contribute to the fluctuation of Canara Bank home loan interest rates?

Canara Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Canara Bank home loan borrowers. Additionally, Canara Bank may modify the spread over benchmark rates during special or festive home loan offers.

Who is eligible to be a co-applicant for an Canara Bank Housing Loan?

Co-owners of the property must also be co-applicants for the Canara Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.

Can I make early payments toward my outstanding home loan amount?

Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Canara Bank does not impose prepayment charges on home loans with floating interest rates.

How can I lower my Canara Bank Home Loan interest rate?

You can reduce your Canara Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Canara Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.

What are the pre-closure charges for Canara Bank home loans?

Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.

What is the disbursement process for Canara Bank Home Loans?

After property and document verification and completion of the 'own contribution' or down payment, Canara Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.

Is my spouse's income considered in calculating the home loan amount?

Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Canara Bank for consideration.

What is the minimum credit score required for Canara Bank Home Loan applicants?

While Canara Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.

Can I secure home loan approval while still deciding on a property?

Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.