A "low interest" loan shouldn't mean you have very little interest in paying it back!
The Canara Home Loan Plus is an additional home loan that you can apply for if you already have a housing loan from Canara Bank.Customers can apply for this loan as an overdraft or as a term loan and use the loan amount for any purpose except the speculative reasons.This loan’s interest rate starts from 7.45%p.a. and it has a processing fee of 0.50% of the loan amount.
The Canara home loan Plus has an interest rate that is linked to the Repo Linked Lending Rate (RLLR). Currently, the RLLR is 6.90 percent. This loan's interest rate ranges from 7.45 percent to 9.50 percent per annum.
If you are interested in applying for this housing loan from Canara Bank, here are the features and benefits that you are offered:
Term Loan – maximum repayment period:
If you wish to apply for this housing loan from Canara Bank, here are the criteria you need to meet:
You can use the loan amount for any personal reasons such as medical expenses, paying for your children’s education, emergency situations, etc. except for speculative reasons.
You will be charged a processing fee of 0.50% of the loan amount, with a minimum fee of Rs.100 and a maximum fee of Rs.500.
The interest rate of Canara Home Plus loan is linked to the Repo Linked Lending Rate (RLLR) which is 6.50% at present. The interest rate ranges from 7.45% to 9.50% p.a.
No. This housing loan is exclusively offered to existing housing loan borrowers of Canara Bank.
No. If you wish to pre-close your housing loan, the Canara Home Loan Plus Term Loan will first be foreclosed.
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