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    Canara Bank Mortgage Loan

    We found 1 Canara Bank Mortgage Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.75% Floating
    1,000 to ₹5,000 One time fee
    3L
    5 years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Canara Bank Mortgage Loan is Rated as "Great!" by 56 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Overview

    People work very hard to buy properties in India. They believe that owning the property will secure them against all the financial difficulties that they might face in the future. Most people mortgage their property to avail funds so that they are not compromising on their quality of life. Canara Bank is known for being customer centric and they offer a wide range of services to meet the requirements of their customers. One of their product being mortgage loan, this loan is provided to meet the financial needs of property owners.

    Purpose of Canara Bank Mortgage Loan

    The purpose of Canara Bank Mortgage Loan is to meet any unforeseen expenses, urgent personal and medical needs. The loan is provided to individuals for non-business purposes only.

    Eligibility Criteria for Canara Bank Mortgage Loan

    Individuals who wish to obtain a Canara Mortgage Loan need to satisfy the following criteria:

    • Individuals must be customers of the bank who have a satisfactory dealings with the bank.
    • New customers must be introduced and must be creditworthy with satisfactory credit report.

    Documents Required for Canara Bank Mortgage Loan

    A borrower is required to furnish the following documents before availing a loan:

    • Filled in loan application along with 2 passport sized photographs.
    • Copy of lease deed.
    • Guarantor and applicants’ income proof.
    • ITR statement.
    • Title deeds of the property, latest receipt of tax paid.
    • Approved plan of the building.
    • Certificate of balance if it is financed through loan against property from other source.
    • If the borrower is a salaried individual then he has to submit his annual financial statement for past 2 years.

    Features and Benefits of Canara Mortgage Loan

    Some of the salient features and benefits of Canara Bank Mortgage Loan are:

    • The loan is easy to avail and require minimum documentation.
    • Loan offered is up to 50% of the value of the property mortgaged subject to a maximum of Rs.10 crores.
    • The repayment term is up to 84 months. The repayment can be made through EMIs.
    • The borrower must have a minimum take home of 30% of his income after paying the loan EMI.
    • Personal guarantee is required. He must have an adequate net worth that is acceptable to the bank.
    • Processing charge is 1% of the loan amount subject to a minimum of Rs.1,000 and maximum of Rs.50,000.
    • The documentation charge applicable of Rs.100 per lakh. The minimum charge is Rs.1,000 and subject to a maximum of Rs.25,000.
    • Idle property can generate additional source of income.
    • Competitive interest rate is offered by Canara Bank.
    • The loan amount offered is 50% of the value of the property that is being mortgaged. It is subject to a maximum of Rs.10 crores.

    Canara Bank Mortgage Loan Interest Rate

    The interest rate charged by Canara Bank on their mortgage loan is extremely competitive. They ensure that repaying the loan doesn’t become an additional financial burden on the borrower. The interest rate offered is 12.50% per annum (floating).

    Note - Interest rates charged by Canara Bank are at their sole discretion and are subject to change without prior intimation.

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  • Canara Bank Mortgage Loan Reviews

    • 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
    • Canara Bank Personal Loan
      "Easy process"
      0.5 5.0/5 "Blown Away!"
      The sequence of steps which is followed by CANARA Bank on its personal loan its pretty simple. The documents were minimal and it was a hassle free process. The rate of interest was of 17.25% for the tenure of five years. The processing charges was nominal too.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jun 28, 2016
    • Canara Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Within week the personal loan was disbursed by Canara bank as I have the account so the process was very easy and smooth. Rate of interest charged was nearly 15% and the processing fee was Rs.2000. Required paper were standard like other banks only.
      Was this review helpful? 12
      , bangalore
      Reviewed on Jun 25, 2016
    • Canara Bank Personal Loan
      "Good service provider"
      0.5 3.0/5 "Satisfactory"
      I am having personal loan with the Canara bank and the interest rate is around 15%. Processing charges were a nominal one with them and the loan amount got disbursed to my account within a week of time. Response was good one with the Canara bank.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 13, 2016
    • Canara Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Canara Bank. The services has been very good from them. They offered me a very reasonable rate of interest. It was of 12.2%. The processing charges was waived off. There was no charges for the pre closure as well. The process was completed in a week. Overall excellent.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 18, 2016
    • Canara Bank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      Based on my salaried account I got the personal loan very easily in four days from Canara bank. The only down side is, they require the guarantor for loans which is quite difficult.. In terms of interest rate and other charges they are charging less when compared with other banks.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on May 12, 2016
    • Canara Bank Personal Loan
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      This is fairly a new loan which I had taken with Canara bank as I have a long standing relationship with them being an account holder. I know the manager personally and he co ordinated well. They offered me an interest rate of 14% and a nominal processing fee of Rs.1500. The documentation was very minimal and the processing took 15-16 days and the loan were realsed to my account. Bottom line, fanstastic experience.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 11, 2016
    • Canara Bank Personal Loan
      "great process. "
      0.5 5.0/5 "Blown Away!"
      I had an experience of taking a personal loan from Canara bank. The process was pretty okay. I was offered an interest rate of 13%. The disbursement process was very quick as I got the loan within 3 hours of time. But my concern is that the maximum amount the bank offers as loan is 1.5 lakhs only.
      Was this review helpful? 1
      , hosur
      Reviewed on Apr 05, 2016
    • Canara Bank Personal Loan
      "Good process "
      0.5 4.0/5 "Great!"
      The service provided was quite slow but they dont have any fraudulent service in the loan process with canara bank related to personal loan.The interest rate applied for the personal loan was high compared with others through the canara bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 16, 2016
    • Canara Bank Personal Loan
      "Okay with them..."
      0.5 2.0/5 "Expected more"
      I took personal loan from Canara bank which was last 4 years back. Initially they offered 1lakh but I had a good relationship with their General manager so, he helped me a lot. Finally they offered 1.60lakhs. I have no issues with them. I use to make the payment through ecs mode.
      Was this review helpful? 2
      , nagercoil
      Reviewed on Feb 24, 2016
    • Canara Bank Personal Loan
      "Fine.."
      0.5 1.0/5 "Really Bad"
      Recently I approached Canara bank for a personal loan. But they are not willing to provide a loan but the thing is requested them for a 2lakhs even though they need guarantor. When I compare to Canara bank I am happy with ICICI Bank in terms of personal loan.
      Was this review helpful? 1
      , nagercoil
      Reviewed on Feb 24, 2016
    • Canara Bank Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I took the personal loan with the Canara bank and the loan amount got disbursed within fifteen to twenty days of time. Customer service is average with them and the responsiveness too. Processing charges are very low with them.
      Was this review helpful? 0
      , madurai
      Reviewed on Feb 23, 2016
    • Canara Bank Personal Loan
      "Super fast service "
      0.5 5.0/5 "Blown Away!"
      Canara bank is a quite good.There is no drawback in the process of personal loan.It was taken near my native and within half an hours they are able to provide.They have less documentation process the personal loan.100% recommended service
      Was this review helpful? 0
      , mangalore
      Reviewed on Feb 22, 2016
    • Canara Bank Personal Loan
      "Unhappy with them..."
      0.5 1.0/5 "Really Bad"
      I am unhappy with Canara bank in terms of loan. Basis of my saving account I approached them for a personal loan last year. They did not received any response from them. Even they kept on postponing my application. I would suggest them to consider their customer and it would be great if they respond their account holder properly.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 12, 2016
    • Canara Bank Personal Loan
      "Customer support is not great.."
      0.5 2.0/5 "Expected more"
      At the Canara bank branch the employees are not giving solution as they are routing here and there. They are not respecting the customers. Few employees are good. For personal loan the rate is 14.5% and this is high. Canara bank is a government sector so they should not high in the rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 10, 2016
    • Canara Bank Personal Loan
      "Need more flexible..."
      0.5 5.0/5 "Blown Away!"
      Based on my saving account I approached Canara bank in my branch for a personal loan. I could not get loan from them but other branches are ready to provide a loan. Based on their norms they need to open a salary account so, dropped my plan. My suggestion is it would be great if they consider the saving account also.
      Was this review helpful? 1
      , pondicherry
      Reviewed on Feb 06, 2016
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