Canara Bank Home Loan
Canara Bank Home Loan
Canara Bank Home Loan
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Canara Bank Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Canara Bank Home Loan Key Highlights
Loan Amount No upper limit on home loan amount
Rate of Interest Starting at 7.40% per annum
Processing Fee 0.50% (Min. Rs. 1,500/- + GST; Max. Rs. 10,000/- + GST)
Maximum Tenure for Repayment Up to 30 years or up to 75 years of the borrower's age, whichever is earlier
Rate Packages Fixed and floating
Charges for Prepayment/Foreclosure No penalty charges on prepayment
Canara Bank Home Loan Interest Rates in 2026
The Canara Bank home loan interest rate ranges between 7.40% and 10.25% per annum, effective from June 2025. The interest rates for home loans offered by Canara Bank are likely to vary across different loan slabs and should be checked directly with the bank at the time of loan application.
The table below highlights the various home loan slabs by Canara Bank along with their respective interest rates:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Canara Housing Loan | 7.40% p.a. - 10.25% p.a. |
| Canara Home Loan Secure | 9.10% p.a. |
| Canara Home Loan Plus - Term Loan | 9.55% p.a. - 11.60% p.a. |
| Canara Home Improvement Loan | 11.50% p.a. - 13.55% p.a. |
| Canara Housing Loan - For Customers with Minimal/Nil Income Proof | 9.75% p.a. - 10.25% p.a. |
Canara Bank Home Loan Eligibility Criteria
To avail of the home loan facility with Canara Bank, it is essential first to assess the eligibility criteria defined by the bank and ensure that you meet the specified requirements. These criteria enable the bank to evaluate the creditworthiness of the loan applicant and serve as a guarantee that the loan amount will be repaid.
The table below defines the Canara Bank home loan eligibility criteria for your easy reference:
For Salaried Individuals
Age Range (in years)
18-75 years
Nationality
Resident Indians and NRIs
Minimum Income
As per bank assessment (based on repayment capacity)
For Self-Employed Individuals
Age Range (in years)
18-75 years
Nationality
Resident Indians and NRIs
Minimum Income
As per bank assessment (based on repayment capacity)
Canara Bank Home Loan Processing Fee and Charges
The Canara Bank home loan processing fee is set at a nominal charge of 0.50% (minimum Rs. 1,500/- + GST and maximum Rs. 10,000/- + GST) to cover the administrative costs involved in assessing and approving home loan applications.
The table below highlights the home loan processing fee and other charges levied by Canara Bank for 2025:
| Processing Fee | 0.50% (Min. Rs. 1,500/- + GST; Max. Rs. 10,000/- + GST) |
| Repayment Charges | Nil |
| Charges for Late EMI | 2% per annum |
Canara Bank Home Loan Schemes and Top Plans
Home loan applicants seeking convenient and affordable financing options at Canara Bank can take advantage of the bank's multiple housing loan options. The list below highlights some of the top home loan schemes and plans preferred by several applicants at Canara Bank:
- No upper limit on the amount of loan granted
- Housing loan applicants are also eligible for life insurance coverage
- No foreclosure charges
- A loan is available for the installation of a Rooftop Solar Photovoltaic System, in addition to purchasing or renovating a house
- Maximum 20 years tenure
- Processing fee of 0.50% on the loan with a minimum of Rs. 1500 + GST and a maximum of Rs. 10,000 + GST
- Loans are available both for buying a residential site/plot and constructing a house, and for building a house on a site already owned by the borrower
- Primarily targeted at lower-income households
- Processing fee of 0.50% on the loan with a minimum of Rs. 1500 + GST and a maximum of Rs. 10,000 + GST
- For buying a ready-built house/flat or constructing a house/flat
- No prepayment penalty and a complimentary credit card offered
- Ensures a roof above every farmer's head
- Guarantees a loan facility to those with minimal or no documented income
- Up to Rs. 20 lakh sanctioned and disbursed, further ensuring eligibility for Credit Guarantee Cover for buying/building a first house
- Scheme applicable to LIG/MIG/EWS category applicants with minimal or nil documented income or proof of income but with digital banking footprints
* Note: All of the above home loan plans are made available to applicants solely at the discretion of Canara Bank Home Loan, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for Canara Bank Home Loan
Home loan applicants at Canara Bank are required to submit a complete list of documents to prove their identity and creditworthiness to the bank. In addition to determining their genuine need, it also ensures a guarantee to the bank that the loan amount will be repaid within the stipulated duration.
Listed below are the key Canara Bank home loan documents required from both salaried and non-salaried (self-employed) applicants:
| Proof of Income |
|
| Other Required Documents |
|
| Proof of Income |
|
| Other Required Documents |
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| Identity & Address Proof |
|
| Documents Related to Property |
|
Apply Home Loan Through BASIC Home Loan
Canara Bank home loan apply procedure can be easily done with the help of the efficient BASIC Home Loan team. You can approach them online by following these steps:
Apply Now on the BASIC Website
Proceed to the 'APPLY NOW' section on the BASIC Home Loan website.
Enter Your Details and Submit
Fill in the form by entering your name, contact number, and other required details, and submit the form.
Our Expert Will Reach Out to You
A BASIC Home Loan team representative will connect with you shortly to assist you through the entire home loan application process.
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