Canara Bank Home Loan
Home loan is the loan that any person takes to make his or her dream come true. Canara Bank, like other banks, offers customers a home loan facility.
Any person can buy a home or flat, take out a home loan to repair / renovate a house or flat. The amount offered under a home loan depends on many factors such as the applicant’s CIBIL score, income, age, repayment ability, etc. You can get home loan subsidy from Canara Bank under Prime Minister Awas Scheme (PMAY). Canara Bank offers several types of home loan schemes. The interest rate and loan amount may be different for each project. The Canara Bank home loan loan term is for a maximum of 30 years. Canara Bank Home Loan Interest Rate starts at 6.90% p.a.
Canara Bank offers home loans with an interest rate of 6.65% for a period of 30 years. It also offers a special home loan scheme for farmers and people engaged in related activities such as poultry / dairy, horticulture and horticulture. Canara cutiere, special housing loan scheme, is offered to individuals with annual family and members of self-help groups. Revenue Rs 3 lakh
Canara Bank Home Loan Interest Rates 2022
Canara Bank offers various home loan schemes. The interest rate is different from everything else. Canara Bank Home Loan Interest Rate starts at 6.90% p.a. Just as we need to know about Personal Loan Interest Rate 2022 before we take out a personal loan, we need to know about Home Loan Interest Rate 2022 before taking a Home Loan. If you apply for that loan without knowing the correct interest rate for the loan, you may run into problems during the repayment of the loan.
Types of Canara Bank Home Loan
- Canara Bank Housing Loan
- Home improvement loans
- Residential-solar loan
- Canara Home Loan Plus
- Housing loan for farmers
- Canara Bank Home Loan Scheme for Non Resident Indians
- Housing loans for corporates
- Canara Home Loan Super Gain (CASA)
- Canara Kutier – Housing Loan Scheme
- Work experience for salaried individuals – at least 2 years.
- Must have at least 3 years of work experience – for a business / professional and self-employed person.
- Applicant’s age should be less than 60 years of age at the time of application and the loan must have expired before 75 years.
- Individuals over the age of 60 may also apply under certain conditions.
Salary Person: 10 months total salary subject to maximum Rs 25 lakhs.
For an unpaid person: 85% of the applicant’s average gross income for a period of 3 years subject to a maximum of Rs. 25 lakhs.
Canara Bank Home Loan Records:
- Proof of Identity (Aadhaar Card / Valid Passport / PAN Card / Driving License / Voter ID)
- Address Proof (Aadhaar Card / PAN Card / Voter ID / Utility Bills / Driving License / Valid Passport)
- Income Proof:
- For a salaried person:
- Latest Salary Card
- Salary / Employment Certificate
- Recent Form Number. 16
- For a self-employed person:
- A letter relating to the nature of the business, the type of organization, the year of establishment, etc.
- ITAO / IT Returns in the last 3 assessment years
- Balance sheet and P&L account for last 3 years
- Applicant Loan Application with 2 passport size portraits of the applicant / guarantor
- Sales letter
- Contract for Sale
- Each of the approved project for the proposed construction / extension / addition
- Detailed Cost Estimation / Assessment Report from Bank Panel Chartered Engineer / Architect
- NOC Distribution Letter from Co-operative Housing Society / Apartment Owners Association / Housing Board / Society / Association / Builders / Housing Board
- Legal Inquiry Report, EC, Property Tax Payment Receipt, Account and Permit for Mortgage, for the last 13 years, where required
- Salary Certificate and Form Number. 16 (in case of salaried persons)
- Filing IT Returns for the last three assessment years
Canara Bank Home Loan: – Purpose / Features
- You can take this loan to buy a ready-made home or flat.
- This loan can be taken for construction / renovation of a house or flat.
- In the case of a combined residential loan, the use of the loan amount for the purchase of the plot is limited to 60% of the eligible / approved loan amount.
- You can borrow up to 15 lakhs during the repair and renovation.
- If you already own a house / flat with or without a loan, then you can take out a loan for another home / flat purchase.
- A person who receives a salary can take out a loan amounting to six times the total annual salary.
- Businesses or self-employed persons can borrow up to 6 times the annual salary.
- Selected loans for 8 years are also allowed total salary / income.
Apply Canara Bank Home Loan Online
- To apply online, you must first visit the bank’s official website, canarabank.com.
- On the homepage of the website, the Loan Products option appears in the Personal Banking option, click on it.
- On the next page, all home loan types come before you.
- Select the home loan you want to apply for.
- All information regarding that loan will come before you.
- Click Apply Now to apply.
- The loan form opens in front of you.
- Enter the requested information on the form and submit the form.
- After submitting the form, the bank representative will contact you and further the loan process.
How to apply Offline
- You should first go to your nearest Canara Bank branch.
- You should contact the bank employee by going to the bank branch.
- The bank employee will provide you with all the information about the home loan.
- Then your records will be checked.
- You will be given a form.
- You must correctly enter all the information requested on the form, attach your records and submit the form to the bank.
- The loan amount will be transferred to your bank account if your loan is approved.
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