Multiple banks. Different interest rates. Call it a "conflict of interest".
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    • Canara Bank Teachers Loan is Rated as "Great!" by 68 Users

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    Canara Bank Teachers Loan

    One-day approval. Paperless. And low interest rates!Explore Personal Loans

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    Canara Bank was founded in 1906 and nationalised in 1969. Over the years, Canara Bank has scaled new heights to become a major financial conglomerate in India. Canara Bank currently has around nine joint ventures, 9132 ATMs, 147 hi-tech E-lounges and 5727 branches. Canara Bank has launched various products and services such as platinum rupay cards, EMV chip cards and digital life certificates besides an enquiry portal for social security schemes among others across various domains such as personal banking services, priority banking, NRI banking, corporate banking and SME banking. Canara Bank also offers a teachers loan scheme.

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    What can this loan be used for?

    Teacher’s loan offered by Canara Bank may be used to fulfil any personal financial requirements. The Teachers loan may not be used for speculative purposes.

    Cash crunch giving you the blues? A Personal Loan is the answer!Explore Now

    Who can avail of the teacher’s loan offered by Canara Bank?

    Teaching/non-teaching staff (confirmed) in a college/school receiving their salary via branches of Canara Bank

    What is the minimum salary required to be eligible for Teachers Loan?

    The net take home salary of customers (excluding the monthly instalments) should be Rs.10,000 or a minimum of 30% of their gross salary, whichever is higher.

    What are the terms associated with this loan?

    Customers should provide suitable co-obligation, wherever applicable

    One-day approval. Paperless. And low interest rates!Explore Personal Loans

    What is the maximum loan amount which can be availed under the Teachers Loan scheme?

    The maximum loan amount offered by Canara Bank for its teacher’s loan scheme is Rs.2,00,000 or 10 months' gross salary, whichever is less.

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    What is the interest rate charged by Canara Bank for its teacher’s loan scheme?

    The interest rate for all retail lending/loan schemes offered by Canara Bank is based on its base rate. The interest rate charged for the home improvement loan scheme is base rate + 3.75%. The base rate of Canara Bank is 9.65% (as of October 2015).

    What is the repayment period for this loan?

    The maximum repayment period for Teachers Loan offered by Canara Bank is 48 months.

    Mr. Sharma got his Personal Loan approved in just a day. You can get yours too.Get A Loan

    What are the documents required for availing of Teacher’s loan by Canara Bank?

    • Filled-in loan application
    • Two passport size photographs
    • Salary certificate
    • Form No.16
    • Promote Covering Letter
    • Co-obligation

    How can one apply for this loan?

    Customers can apply and track the status of their loan application online at the official website of Canara Bank.

    What are the proceeding charges under the Teachers Loan scheme offered by Canara Bank?

    Canara Bank charges 1 % of the loan amount as processing fees under the Teachers Loan scheme.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

     

    Canara Bank Teachers Loan Reviews

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    • 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.
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      , 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.
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      , 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.
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      , 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.
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      , 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.
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      , 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.
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      , 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

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      , 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

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      , 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

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      , 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.
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      , 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

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      , 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

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      , 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

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      , 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.
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      , 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

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      , 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

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      , 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

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      , 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? 7

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      , 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? 14

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      , 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

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      , pune
      Reviewed on Jun 13, 2016
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