Canara Bank Personal Loan - Eligibility & Documentation

Eligibility criteria for the Canara Budget personal loan:

  • This plan is for employed persons.
  • If you are a confirmed employee of a reputed PSU or joint stock company.
  • If you are a confirmed central or state government official.
  • College lecturers, assistant professors, professors, universities and research institutions are also eligible for Canara Bank personal loans.
  • Your salary account has to be with Canara Bank.
  • If you are a salaried employee, your minimum average net take-home salary should not be less than 40% after paying the monthly EMI.

Similarly the eligibility criteria for the Teachers Loan is as follows:

  • You need to be a confirmed teacher or non-teaching staff working in a school or college.
  • You should hold your salary account with Canara bank.
  • Your monthly take home salary needs to be minimum 30% of the gross salary after EMI deduction, or Rs.10,000 (whichever is greater).

Canara Banks eligibility criterion for Canara Consumer loan include:

  • Professionals, businessmen and salaried people “ they all can avail this loan.
  • A salaried individuals monthly take home salary needs to be 40% of their gross salary or Rs.6,000 after deducting the EMI for the loan (whichever is higher).
  • In case of professionals and other non-salaried persons, they need to have a minimum yearly net income of Rs.1,50,000 supported by Income Tax Assessment Order (ITAO) or Income Tax Return (ITR).
  • In certain cases, the income of spouse can also be shown to fulfill the Canara Bank Personal Loan Eligibility criteria.
  • For the salaried class, salary needs to be credited with Canara Bank.

Canara Bank Personal Loan in Delhi/NCR through LoanMoney

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