Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Canara Bank Personal Loan EMI Calculator is Rated as "Great!" by 71 Users

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    Canara Bank Personal Loan EMI Calculator

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    Overview about Canara Bank Personal Loan

    Headquartered in Bengaluru, Canara Bank is a well-established public sector bank in the country which offers a plethora of banking and financial services to retail customers as well as institutions. In its retail lending segment, the “Canara Budget” Personal Loan scheme is offered to the salaried class working with reputed corporate companies, PSUs, government organizations and others. The aspirant should be holding a salary account with Canara Bank with a take home salary of at least Rs.10,000.

    Offered at attractive interest rates and low fees, the proceeds from this loan can be used for personal financial needs.

    How to use BankBazaar Canara Bank Personal Loan Calculator to understand your Personal Loan Repayment:

    Repayment of a Personal Loan from Canara Bank is made in EMIs (Equated Monthly Installment), which consists of the principal amount as well as applicable interest charges. Understanding the breakup of charges and knowing the EMI amount beforehand is important on many fronts. Firstly, it gives you a definite amount you would be paying towards repayment over a fixed term. It also helps in understanding the loan amortization where you get a detailed breakup of various finance charges involved in the loan.

    The BankBazaar Personal Loan Calculator is an all-inclusive tool which not only helps in ascertaining the installment amount, but also provides a salient breakup of various charges. This easy-to-use tool provides the required output in seconds with an amortization table. It comes highly recommended as it helps in freezing various terms of the loan with Canara Bank which includes the loan tenure. Knowing the monetary obligations will also help in negotiating the rates.

    How does the Canara Bank Personal Loan EMI Calculator Work?

    Before using this tool, basic information pertaining to the financials of the loan such as the proposed loan amount, tenure (in years & months), applicable interest rate and the processing fee component (in percentage) should be available.

    Once you have these details handy, follow the steps below to get the required output.

    • Use the slider on the scale titled “Loan Amount” to select the proposed amount.
    • The next scale is intended for the user to select the loan tenure. Follow the same procedure as above to make the selection.
    • In the following fields, type the applicable rate and the processing fee (in percentage, if any).
    • Once you’re done with the steps above, verify the validity of the information provided and click “Calculate”.

    Now, you have the EMI Value in rupees followed by a pie chart which breaks up the charges involved in the loan for you to analyze. As you scroll down, a bar graph greets you to provide the amortization table for the entire tenure.

    Features and Benefits of Canara Personal Loan EMI Calculator

    Helps in ascertaining the EMI

    The most visible benefit of using this tool is that it provides the exact EMI value that will be paid each month towards clearing the loan. This helps in adjusting the loan tenure and also in fixing the exact loan amount you would like to avail from Canara Bank.

    Amortization table

    This table is like a statement where you get a detailed breakup of the principal amount and interest charge paid each month until the end of the schedule. This way, you can plan the monthly budget since you have the financials beforehand. One can also use this tool to reassess loan repayment terms such as pre-closure.

    Breakup of finance charges

    The pie chart contains breakup of financial charges involved in the loan such as interest charges and processing fee. This key information can help in negotiating rates with the bank.

    Canara Bank Personal Loan Calculator FAQs

    1. Is the information offered by the EMI calculator accurate?

      This tool calculates on the reducing balance principal and the output is accurate. There may be slight variations due to the method in which the bank may compute the EMI.

    2. How does it help in pre-closing my existing personal loan with Canara Bank?

      The amortization table provides a breakup of principal and interest charges for each EMI. Depending on where you’re into the tenure, you can ascertain the feasibility by taking into account the principal outstanding.

    3. Can I use this tool to check the financials for other bank personal loans as well?

      Yes, this tool is universal and hence can be used to calculate EMIs for loan proposals from other banks/financial institutions as well.

    Personal Loan Reviews

    • Canara Bank Personal Loan
      "Below Average service"
      0.5 2.0/5 "Expected more"
      The customer support is not giving proper response to the customer with Canara bank. I was about to offer the personal loan with the canara bank , but the executives gave very negative impression so that was the reason I haven't applied for the personal loan with Canara bank.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 07, 2017
    • Canara Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the personal loan with the Canara bank and the interest rate is around 11%. I would like to say that the customer service is good and the responsiveness too. I am really happy with the Canara bank for the personal loan, which I have taken.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 29, 2017
    • Canara Bank Personal Loan
      "Good process"
      0.5 5.0/5 "Blown Away!"
      I applied for a Personal Loan with Canara Bank and the approval was done instantly. They disbursed the amount within no time. The process of the whole loan was easy. The rate of interest they offered me was also pretty decent. The overall experience with them was pretty good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 20, 2017
    • Canara Bank Personal Loan
      "Need to fulfill the customer requirement"
      0.5 2.0/5 "Expected more"
      The Canara bank was about to offer me personal loan but with very low loan amount, so that was the reason I haven't got the loan from canara. The interest rate is very low when compared with others banks. The customer support and the response was very prompt from Canara bank.
      Was this review helpful? 0
      , allahabad
      Reviewed on Oct 14, 2017
    • Canara Bank Personal Loan
      "The best"
      0.5 5.0/5 "Blown Away!"
      Canara bank has offered me a personal loan of five lakhs. It is a great experience as there were other bank who refused me a loan for the same amount of salary. Though my requirement was much lesser than the amount of 5 lakhs. The bank has offered me that.
      Was this review helpful? 1
      , tirupati
      Reviewed on Oct 11, 2017
    • Canara Bank Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      Canara Bank follow up is not that much great but still their interest rate and processing fee was reasonable. I took the loan of Rs.1. 5 lakh for the tenure three year, they didn't give door step service. I went to the branch and approached for the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 04, 2017
    • Canara Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan in Canara Bank. As I'm holding a salary account with them for a long time when I approached them for this personal loan they provided me immediately. Customer service is good. The rate of interest is 14% which I got after negotiating with them from 18% they reduced to 14% which is nominal and also good for me.
      Was this review helpful? 1
      , indore
      Reviewed on Sep 30, 2017
    • Canara Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The personal loan service was very good with Canara bank. My personal loan application got approved and disbursed within a week time. The customer service is good with Canara bank. The rate of interest is high nominal from Canara bank and I am satisfied with the loan amount.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Sep 05, 2017
    • Canara Bank Personal Loan
      "Approachable "
      0.5 5.0/5 "Blown Away!"
      Once I had applied for the personal loan with Canara bank. Actually this is the bank for my savings account. When I applied for the loan, I had received good response but I closed my application as I am not interested at that time. Customer service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2017
    • Canara Bank Personal Loan
      "Customer friendly bank and excellent service"
      0.5 5.0/5 "Blown Away!"
      Canara Bank is really good, they are taking care of the customer and also they providing good service to all. They have sanctioned me Rs.1.9 lakhs with 9% of interest now it reversed into 8% and they not taking any processing fee and also part payment and preclosure option available without any charges.
      Was this review helpful? 1
      , aurangabad
      Reviewed on Jul 11, 2017
    • Canara Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from Canara bank. Our company has a tieup with this bank and the process for this loan was completed on time. The documentation was not much and it was the normal procedure, the rate of interest was 12% and charges were pretty nominal. I am happy that I got the loan when I needed it.
      Was this review helpful? 1
      , mohali
      Reviewed on Jun 15, 2017
    • Canara Bank Personal Loan
      "Good Process"
      0.5 3.0/5 "Satisfactory"
      Three years ago, I had taken the personal loan from Canara bank. The loan amount was 4 lakhs with the rate of 13.15% for the tenure of 4 years. I did not submit more documents just provided KYC documents. They disbursed the loan on time and the entire process went good without any hassles. I had cleared the loan within two years of time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 15, 2017
    • Canara Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Canara bank and the interest rate is around 12.25%. The loan amount got disbursed to my account within two days of time. Response is good one with them and the customer service is also working in a good way.
      Was this review helpful? 0
      , devanahalli
      Reviewed on Jun 10, 2017
    • Canara Bank Personal Loan
      "Satisfied"
      0.5 3.0/5 "Satisfactory"
      I had closed the personal loan with the Canara bank and the rate of interest was around 11% for the capital of 5 lakh Rupees and 3 lakh Rupees twice. Loan amount got credited within a week of time, also they had made some delay. They are very much legal and they are not flexible to their customer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 02, 2017
    • Canara Bank Personal Loan
      "Best Offer"
      0.5 4.5/5 "Excellent!"
      When I was in a need of 4 lakhs, I had applied for the personal loan with HDFC bank but the bank is willing to provide 3.6 lakhs with 11.4% as the interest rate. But canara bank offered 4.5 lakhs with 10.8% of interest rate, so I had taken the loan from Canara bank. Also the customer service is also equally good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 30, 2017
    • Canara Bank Personal Loan
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      I got personal loan from Canara bank as preapproved loan. They sanctioned the loan amount into my account within fifteen days. I did not submit any documents to the bank as I got support from my office end, I easily availed the loan from the bank. The interest rate 16% for 3 years and the loan amount is 75000.
      Was this review helpful? 1
      , chennai
      Reviewed on May 04, 2017
    • Canara Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have closed the personal loan with the Canara bank and the tenure was around thirty months of time. Foreclosure charges were nil with them and I got it through my reference of employer. Rate of interest was little high but am happy with them and the loan amount got disbursed to my account within a week of time.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 25, 2017
    • Canara Bank Personal Loan
      "Easy process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Canara bank. The process for my loan was done on time. The documentation was not much and it was the normal procedure, the rate of interest and charges was pretty nominal. I am happy that I got the loan when needed.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 15, 2016
    • Canara Bank Personal Loan
      "Should Helpout to the customer's need"
      0.5 3.0/5 "Satisfactory"
      Canara Bank service was almost good, When I opened my saving account with them. I paid Rs.1000 including debit card. Online service and ATM facilities was good. But they have to understand the customer's needs for any kind of loans and should work on customer orientation.
      Was this review helpful? 6
      , bangalore
      Reviewed on Nov 18, 2016
    • Canara Bank Personal Loan
      "Canara Bank service is Good"
      0.5 4.0/5 "Great!"
      Canara bank personal loan was good, I had taken for 36 months of tenure. I had almost re- paid 30 months and remaining is 6 months . I am okay with the service provided by them. Within the stipulated time they had processed the loan. Before three years I had taken the loan even at that time interest rate was pretty normal.
      Was this review helpful? 2
      , chennai
      Reviewed on Oct 21, 2016
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