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  • Canara Bank Mortgage Loan is Rated as "Great!" by 88 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Canara Bank Mortgage Loan

    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.

    Apply for Personal Loan

    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.

    Canara Bank Mortgage Loan Reviews

    • Canara Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I took personal loan based on the saving account, they gave me the interest around 7.5% for the loan amount Rs. 4 lakhs, the bank staff are cooperative and helpful with me. They processed my application within 24 hours they disbursed the loan amount.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 14, 2018
    • Canara Bank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My personal loan was taken with CANARA BANK , they offered 12.99% interest rate and it is nominal in the market . There is no processing fee with this bank . The process and services was too smooth i receive my loan on time . Loan amount is 200000 and it is satisfactory .
      Was this review helpful? 8
      , bangalore
      Reviewed on Oct 22, 2018
    • Canara Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Canara bank and my experience was good, the loan amount was for Rs 2 lacs with nominal interest rate when compared to other banks. Customer service was good and they responded on time; The tenure period for this loan is 3 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 29, 2018
    • Canara Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The experience i had with this personal loan had not been that great. The process has taken almost 15 days, the loan amount which they had provided had been okay. The interest rate with them has been good when compared with the other banks, their customer support and their staff responses also had been good as well.
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 14, 2018
    • Canara Bank Personal Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      Canara Bank is doing good in the loan process as well. I have taken a personal loan. The interest rate and processing charges is normal. The customer services and response is good and the process to provide the loan was smooth. The after loan services are good too.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 27, 2018
    • Canara Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting the loan had been a little slow and had taken some more time than usual. The loan amount had been satisfactory and the interest rate which they had been charging had been nominal when compared with the market rate. Their customer support and the customer support also had been good and their staff responses had been prompt as well.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jul 29, 2018
    • Canara Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good service which they had provided so far. The process in getting this loan had been very good and the loan amount which they had provided had been satisfactory as well. After applying the loan has been disbursed immediately, and there hasn't been any hassle faced with the banking services.
      Was this review helpful? 5
      , chennai
      Reviewed on Jul 18, 2018
    • Canara Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Canara bank as they have provided nominal rate of interest with zero processing fees . They instantly approved with 1-2 days . They gave the tenure period of 10 years .Payments get auto debited from my salary .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2018
    • Canara Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan from the Canara bank for 3.5 lacs, I got the loan amount with in 10 days. Some personals willing to help and sometimes some staff will not respond properly. On some instances I the experience was good but some clerks are not willing to help.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 21, 2018
    • Canara Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with CANARA BANK which was taken 5 years back. The loan amount was 4,.5 lakhs and the interest rate 11% which is average , The tenure period was4 years . The customer service and responses was always good . I have not faced any issues here and they have sanctioned the loan with the committed time. There is no per closure charges also.
      Was this review helpful? 2
      , new delhi
      Reviewed on Apr 17, 2018
    • Canara Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with CANARA Bank 1 year back. The loan amount was 3 lakhs and the interest rate was 17% which is very high . The tenure period was 2,5 years . The whole process was very smooth and hassle free . They have sanctioned the loan with the committed time. My experience was really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 12, 2018
    • Canara Bank Personal Loan
      "Mr"
      0.5 4.5/5 "Excellent!"
      My experience was very good. I am satisfied with the services. I would like to visit again in case I want to learn about other services. Thank you canara bank for the services. My experience was good and I am satisfied with the services. Would visit again if required.
      Was this review helpful? 0
      , new delhi
      Reviewed on Mar 13, 2018
    • Canara Bank Personal Loan
      "Need Improvement"
      0.5 2.0/5 "Expected more"
      The customer support is not up to the mark with the CANARA BANK, they have promised that they will disburse the personal loan within 5 working days but they took more 20 days of time. The rate of interest and the charges are average with the CANARA BANK .
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 13, 2018
    • Canara Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The customer support and the response part is excellent with the canara bank. They have disbursed my personal loan amount within 10days of time. The requested loan amount has been given and I am satisfied with it. The rate of interest and the charges are nominal with the canara bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 05, 2018
    • Canara Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My salary account is through Canara bank so the process was very easy and smooth. They took only two days to process the loan and the response is immediate also the interest rate is fine. It is a excellent experience with Canara bank personal loan department.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 17, 2018
    • Canara Bank Personal Loan
      "Customer friendly"
      0.5 4.0/5 "Great!"
      I cleared my Canara bank personal loan, they gave me 9.5% of interest because I am an existing customer of the bank. The documentation process was easy, KYC verification on time. They gave me part payment and fore closure option. Hence I done preclosure but some charges applicable with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 28, 2017
    • Canara Bank Personal Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      I took a Personal Loan of Rs.50000 at the 13% interest rate, which I feel is a little high percentage. Process was short. Documentation required aren't that much with them. The manager was known who did make things happen quickly. The repayment option was good with it.
      Was this review helpful? 7
      , ahmedabad
      Reviewed on Dec 21, 2017
    • 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? 3
      , 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
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