Canara Bank is one of the biggest public sector banks owned by the Government of India. Its headquarters is in Bengaluru. It was established at Mangalore in the year 1906 on 1 July and named as Canara Hindu Permanent Fund. Later, in the year 1910, the bank changed its name to Canara Bank Limited. The government nationalized the bank in 1969. As of 30 June 2017, the Canara bank had 6089 branches and more than 10519 ATMs across India.
Bangalore know to be the third most populous metropolitan city in India which holds shopping center, malls, restaurants. Bangalore is a one city many cultures meet, so people migrate from different cities to visit 'The Silicon Valley of India' and the place also attracts people who are willing to kickstart their carriers in different fields.
The Personal loan in Bangalore is the easiest thing one can look for from banks and financial institutions. Borrower holding the good credit history and holding correct documents with minimum income to clear the loan in given time are eligible for taking the personal loan. The loan amount ranges from rs. 25,000 to Rs. 25 lakhs and conditional tenure of 12 to 60 months. Personal loans in Bangalore are easy to afford by minimum documentation and faster disbursement of the loan. There are many private banks in Bangalore to provide the personal loan at lower interest for the borrowers having good Credit score more than 750. Canara Bank personal loan in Bangalore can be taken for various needs like the wedding, paying medical bills, home renovation and other things which can be maintained in loan amount. Canara Bank Personal Loan EMI calculator can be calculated from Loanbeku.com for free.
Taking personal loan is not at all a big deal in metro cities but taking the best personal loan is very important. Borrowers should consider few listed things to take a best personal loan.
1. Interest rates
2. Processing fees
4. Pre-payment charges
Borrowers approaching the online lending platforms for taking personal loan would get them more benefits and lower interest rates. Applying for a personal loan through loanbeku is easy and faster. We collect all your requirements and compare the best banks and NBFCs for getting you the lower interest rates and other benefits for choosing loanbeku. loanbeku never hides any processing fees or interest rates from their customers and never cost any extra charges from our customers. Canara Bank personal loan EMI's can be calculated with the help of loanbeku EMI calculator. EMI's can be calculated based on Loan amount, Interest rate and Tenure.
Various Personal Loans offered by Canara Bank
Canara Budget Personal loan.
Canara budget personal loan targets mainly on employees working for corporate companies, Public sectors, Government jobs etc.
1. The loan is sanctioned to full fill the financial need of the borrower.
2. This loan is preserved only for salaried employees.
3. The employee salary account should be in Canara bank for taking the Canara budget personal loan.
4. The minimum net salary should be Rs. 20000
5. The maximum loan amount sanctioned for personal loan is 3 Lakhs
6. Tenure may vary from 12 to 60 months.
7. The processing fee will be 0.5% of loan amount or it may range from Rs. 1000 to 5000.
8. Canara Budget personal loan will have floating rate of interest, which is linked to MCLR.
Canara Bank Teachers Personal Loan
1. Canara bank teachers personal loan is a loan given to teaching staff or non-teaching staff working in schools or college having their salary account in Canara Bank.
2. A letter from salary disbursing authority stating that there the salary account will not be shifted without No objection certificate from the Canara Bank.
3. The net salary should be at least 25% higher or minimum net salary should be Rs. 20000.
4. The maximum loan sanctioned is Rs. 2 lakh.
5. The tenure can be 48 months.
6. Processing fee of 1% (Minimum Rs. 50)
7. Canara bank Teachers Personal loan will have floating rate of interest.
Senior Citizen Personal Loan Scheme
1. Senior citizen personal loan is only for the senior citizens, senior citizens who are taking pension can apply for this loan.
2. Senior Citizens should have Canara bank pensioners account for applying for this loan.
3. The maximum loan amount is Rs. 3 lakhs.
4. Tenure may vary from 48 to 60 months.
5. No processing fees or other charges for the senior citizens under this scheme.
Canara Bank Consumer Personal Loan
1. Canara bank consumer personal loan is for salaried employees or self-employed businessmen
2. The net salary should be 25,000 for salaried employees and 30,000 income for Self-employed businessmen.
3. The maximum loan amount for salaried employees will be 15 months of net salary.
4. The Tenure will range from 36 to 48 months.
5. Processing fees will be 1% of the loan amount (Min. of Rs. 250)
Canara Bank Personal Loan features are: