Canara Bank

Canara Bank

Overview

Can Budget A simple Personal Loan Scheme exclusively for the benefit of employees of Corporates, PSUs, Government Departments, Institutions, etc., To meet genuine personal needs. No-questions-asked loans.

Loan Feature

Loan Amount Six months' gross salary or Rs.1 lac whichever is less
Interest Rate 10.5%-15%
Tenure Salaried 48 months Non Salaried 36 Months
Pre Payment Charges 2% on the outstanding liability in case of take over of the loan by other bank / FI
Service Charges

Processing Charges

0.5% of the Loan Amount with a Minimum of Rs.100 and a Maximum of Rs.500

Eligibility Criteria : Personal Loan

  Salaried Self
Age No age criteria provided No age criteria provided
Income Income Criteria Not Available Income Criteria Not Available
Job Experience Minimum Job Experience Not Available Minimum Job Experience Not Available
Residence Proof Minimum Duration of Stay Not Available Minimum Duration of Stay Not Available

Docs Required : Personal Loan

  Salaried Self
ID Proof Passport or voter's card or driving licence or PAN card Passport or voter's card or driving licence or PAN card
Address Proof Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements
DOB Proof Passport or Voter's Card or Driving Licence Passport or Voter's Card or Driving Licence
Financial Docs
  • Latest salary certificate and Form No.16
  • Proforma Invoice or valuation report (as the case may be)
  • Stipulated Loan Application with 2 copies of passport size photographs
  • Co-obligation (unless waived)
  • Income - proof like ITAO / IT Return, Financial Statements as the case may be
  • Proforma Invoice or valuation report (as the case may be)
  • Stipulated Loan Application with 2 copies of passport size photographs
  • Co-obligation (unless waived)

Other Charges : Personal Loan

Commission on solvency certificate shall be at the rate of 0.10% with a minimum of Rs. 500/- and maximum of Rs. 10000/- per certificate.

Products offered by Canara Bank

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