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Canara Bank Personal Loan - Fees and Charges

Canara Bank offers attractive rates of interest on its personal loan products “ Canara Teachers Loan and the Canara Budget. The rates of interest offered by the bank are set on the basis of MCLR (Marginal Cost of funds based Lending Rate). MCLR comprises of 4 components, which are marginal cost of funds, tenor premium, operating costs and negative carry on account of cash reserve ratio (CRR).
Canara Bank MCLR (Marginal Cost of funds based Lending Rate) (For new borrowers)
Following the RBI guidelines, Canara Bank has adopted the MCLR based interest rate, effective from April 1, 2016.


MCLR Benchmark Tenure (Period)

Benchmark Rates (MCLR)

Overnight

9.00%

1 month

9.25%

3 months

9.35%

6 months

9.40%

1 year

9.45%

Personal Loan Interest Rates (MCLR “ time period)
The rate of interest offered by Canara Bank for its personal loan products is dependent on the tenure of the loan, along with an added percentage over the prevalent MCLR Rate.
Canara Bank Base Rate & Prime Lending Rates (For existing borrowers)
All existing borrowers can avail personal loans at the prevailing Base rate. The current Base Rate (BR) offered by the bank is fixed at 9.65%, effective from 7/10/2015.

Canara Budget Loan

Canara Teachers Personal Loan

Canara Consumer Personal Loan

Interest Rate

  • BR + 4.00% = 13.65% (with salary tie-up)
  • BR + 5.00% = 14.65% (without salary tie-up).

BR + 3.75% = 13.4%

BR + 4.25% = 13.9%

All existing borrowers have the freedom to continue with the Base rate system or shift to the new MCLR based interest rate system.

Canara Bank Personal Loan in Delhi/NCR through LoanMoney

Apply for Personal Loan, Home Loan, Business Loan & Loan Against Property in Delhi & NCR through LoanMoney

Home Loan in Delhi/NCR through LoanMoney

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

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Personal Loan in Delhi/NCR through LoanMoney

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

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Loan Against Property in Delhi/NCR through LoanMoney

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

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Business Loan in Delhi/NCR through LoanMoney

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It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

 

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

 

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

 

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.
Debt consolidation/ Financial Restructuring is a process to streamline one’s financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.
Home is the place where your story generates. Home Renovation Loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated.
A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.
The Education Loanaims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.
Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.
Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.
The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.

Disclaimer: LoanMoney is not a Loan Providing Organization. We are facilitating the Loan Process from various Banks & NBFC. The rate, eligibility criteria, term & conditions of various banks are subject to change as per bank discretion. We try our best to keep the data up-to-date, but we can't guarantee the accuracy of data provided in this site. LoanMoney help you to embark on your dream at the right time with many Banks/NBFC's Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.

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