CANARA Bank Home Loan Interest Rate:

There are mainly 2 types of CANARA home loan rates: Fixed and Variable.

For home loans up to 5 years, the floating CANARA bank home loan interest rate up to 30 Lacs is 9.00%. The fixed CANARA bank home loan rate up to 30 lacs is 11.00% p.a.

Above 5 years and up to 10 years the floating CANARA bank home loan interest rate is 9.25%. Fixed CANARA bank home loan rate for this range is 11.00% p.a.

Floating CANARA bank home loan rate for an amount above 3 crores is 12 %.

Above 10 years and up to 25 years the floating CANARA bank home loan interest rate is 9.50%. The fixed CANARA bank home loan interest rate for above 10 years and up to 25 years is 11.00%. The CANARA home loan rates keep changing.

CANARA Bank Home Loan Eligibility:

CANARA bank home loan eligibility Criteria for Salaried people:

As per the CANARA bank home loan review salaried people have to give salary certificate. CANARA bank home loan is available to salaried people up to an age of 55 years. In order to qualify for CANARA bank home loan eligibility one has to submit form 16.

CANARA Bank Home Loan Eligibility Criteria For Self Employed:

CANARA bank home loan review shows that a self employed person needs to submit IT returns filed for the last 2 years. CANARA bank home loan also needs Proof of business existence. In order to fulfill the CANARA bank home loan eligibility Criteria one needs to last 3 years balance sheet and P&L account.

CANARA bank home loan Documents:

Loan Application form

2 photographs

Sale Deed

Agreement for sale

Approved construction plan

CANARA bank home loan Documents for salaried

Form 16 for last two years

CANARA bank home loan Documents for self employed

IT return for past two years

Proof of business commencement

Balance Sheet ans Profit and Loss Account for last two years

Procedure and options to apply for the loan: The customer can go ahead and apply for the loan at any of the bank branches or can download the form from the website of the bank.

Maximum tenor of the loan: According to CANARA bank home loan review the customer will have the maximum tenure of 20 years.

What would be the repayment options/facilities? The customer can pay back his loan in equated monthly installments.

Pre closure process: In case a customer of CANARA Bank Home Loan the customer wishes to close his loan before the agreed period or term is termed as pre closure. There are no charges for a pre closure.

Tax benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.