Existing housing loan borrowers in the age group of 18 to 70 years, whose have a satisfactory repayment track record irrespective of period run with our Bank subject to specific terms and conditions subject to scheme guidelines.
To meet domestic needs/ medical expenses / educational expenses of children/dependents/ unforeseen contingencies etc., other than speculative purposes
Term Loan.
FOR SALARIED CLASS
10 months’ gross salary subject to a maximum of Rs.25.00 lakhs
FOR NON-SALARIED CLASS
85% of 3 years average gross income of the applicant subject to a maximum of Rs.25.00 lakhs
RATES OF INTEREST FOR RETAIL LENDING SCHEMES
|
SL NO |
LOAN PRODUCT |
CIC - RISK GRADE |
RLLR |
WOMEN BORROWERS |
OTHER BORROWERS |
||||
|
|
|
|
|
CREDIT RISK PREMIUM OVER RLLR |
EFFECTIVE ROI UNDER RLLR |
CREDIT RISK PREMIUM OVER RLLR |
EFFECTIVE ROI UNDER RLLR |
||
|
1 |
Housing Loan* |
||||||||
|
CS : 1 |
6.90 |
0.00 |
6.90 |
0.05 |
6.95 |
|||
|
CS : 2 |
6.90 |
0.05 |
6.95 |
0.10 |
7.00 |
||||
|
CS : 3 |
6.90 |
0.45 |
7.35 |
0.50 |
7.40 |
||||
|
CS : 4 |
6.90 |
1.95 |
8.85 |
2.00 |
8.90 |
||||
|
2 |
Canara Vehicle Loan |
||||||||
|
Four wheelers including Agriculturists |
CS : 1 |
6.90 |
0.40 |
7.30 |
0.45 |
7.35 |
|||
|
CS : 2 |
6.90 |
0.55 |
7.45 |
0.60 |
7.50 |
||||
|
CS : 3 |
6.90 |
0.95 |
7.85 |
1.0 0 |
7.90 |
||||
|
CS : 4 |
6.90 |
2.95 |
9.85 |
3.00 |
9.90 |
||||
|
Four Wheelers, for unrated i.e. where credit history is not available
|
CS : 2 |
6.90 |
0.55 |
7.45 |
0.60 |
7.50 |
|||
|
Two Wheelers |
CS : 1 |
6.90 |
2.10 |
9.00 |
2.15 |
9.05 |
|||
|
CS : 2 |
6.90 |
2.25 |
9.15 |
2.30 |
9.20 |
||||
|
CS : 3 |
6.90 |
5.25 |
12.15 |
5.30 |
12.20 |
||||
|
CS : 4 |
6.90 |
7.00 |
13.90 |
7.00 |
13.90 |
||||
|
Two Wheelers, for unrated i.e. where credit history is not available |
CS : 2
|
6.90
|
3.25
|
10.15
|
3.30
|
10.20
|
|||
* For Housing loans under Commercial Real Estate (3rd & subsequent dwelling unit) the applicable rate shall be the above rate +0.50%
|
|
LOAN PRODUCT |
CIC - RISK GRADE |
RLLR |
CREDIT RISK PREMIUM OVER RLLR |
EFFECTIVE ROI UNDER RLLR |
||||
|
3 |
Housing Loan to Corporates |
6.90 |
1.25 |
8.15 |
|||||
|
4 |
Canara Vehicle Loan |
6.90 |
0.60 |
7.50 |
|||||
|
5 |
Home Improvement Loan |
CS : 1 |
6.90 |
2.50 |
9.40 |
||||
|
CS : 2 |
6.90 |
2.55 |
9.45 |
||||||
|
CS : 3 |
6.90 |
3.05 |
9.95 |
||||||
|
CS : 4 |
6.90 |
4.55 |
11.45 |
||||||
|
6 |
Canara Home Loan Plus |
CS : 1 |
6.90 |
0.55 |
7.45 |
||||
|
CS : 2 |
6.90 |
0.60 |
7.50 |
||||||
|
CS : 3 |
6.90 |
1.10 |
8.00 |
||||||
|
CS : 4 |
6.90 |
2.60 |
9.50 |
||||||
|
7 |
Canara Home Loan Secure |
6.90 |
0.10 |
7.00 |
|||||
|
8 |
Canara Mortgage |
CS : 1 |
6.90 |
3.05 |
9.95 |
||||
|
CS : 2 |
6.90 |
3.10 |
10.00 |
||||||
|
CS : 3 |
6.90 |
3.60 |
10.50 |
||||||
|
CS : 4 |
6.90 |
5.10 |
12.00 |
||||||
|
9 |
Canara Site |
CS : 1 |
6.90 |
1.05 |
7.95 |
||||
|
CS : 2 |
6.90 |
1.10 |
8.00 |
||||||
|
CS : 3 |
6.90 |
1.60 |
8.50 |
||||||
|
CS : 4 |
6.90 |
2.10 |
9.00 |
||||||
|
10
|
Canara Rent |
||||||||
|
a) Navaratna PSUs, AAA rated Companies, Fortune 500 Companies, MNCs, Banks & Insurance Companies |
6.90
|
2.10
|
9.00
|
||||||
|
b) Others |
6.90 |
2.40 |
9.30 |
||||||
|
c) Property leased to our Bank |
6.90 |
1.90 |
8.80 |
||||||
|
11 |
Canara Jeevan |
6.90 |
1.60 |
8.50 |
|||||
|
12 |
Canara Budget-Individual |
CS : 1 |
6.90 |
4.35 |
11.25 |
||||
|
CS : 2 |
6.90 |
4.40 |
11.30 |
||||||
|
CS : 3 |
6.90 |
4.90 |
11.80 |
||||||
|
CS : 4 |
6.90 |
6.40 |
13.30 |
||||||
|
13 |
Canara Budget - Special Package |
||||||||
|
With salary Tie Up |
6.90 |
4.40 |
11.30 |
||||||
|
Without salary Tie Up |
6.90 |
5.40 |
12.30 |
||||||
|
14 |
Swarna Schemes |
|
|
|
|||||
|
|
Swarna Loan |
6.90 |
0.45 |
7.35 |
|||||
|
|
Swarna Overdraft |
6.90 |
0.45 |
7.35 |
|||||
|
|
Swarna Express |
6.90 |
0.45 |
7.35 |
|||||
|
15 |
Canara Cash |
6.90 |
6.55 |
13.45 |
|||||
|
16 |
Canara Pension |
|
|
|
|||||
|
|
General Public |
6.90 |
3.30 |
10.20 |
|||||
|
|
To our bank retirees |
6.90 |
2.10 |
9.00 |
|||||
|
17 |
Teachers Loan |
CS : 1 |
6.90 |
4.00 |
10.90 |
||||
|
CS : 2 |
6.90 |
4.05 |
10.95 |
||||||
|
CS : 3 |
6.90 |
4.55 |
11.45 |
||||||
|
CS : 4 |
6.90 |
6.05 |
12.95 |
||||||
|
18 |
All Other Personal Loans |
CS : 1 |
6.90 |
5.50 |
12.40 |
||||
|
CS : 2 |
6.90 |
5.55 |
12.45 |
||||||
|
CS : 3 |
6.90 |
6.05 |
12.95 |
||||||
|
CS : 4 |
6.90 |
7.00 |
13.90 |
||||||
|
19 |
Education Loans ## |
||||||||
| i) Vidya Sagar Scheme (Loan Quantum) # | a. Upto Rs 7.5 Lakhs | 6.90 | 2.00 | 8.90 | |||||
| b. Above Rs 7.5 Lakhs | 6.90 | 1.60 | 8.50 | ||||||
| ii) IBA Skill Loan (Max Rs 1.50 lakh) | 6.90 | 1.50 | 8.40 | ||||||
| iii) Vidya Turant Scheme | a. With Co-borrower | 6.90 | 0.00 | 6.90 | |||||
| b. Without Co-borrower | 6.90 | 0.60 | 7.50 | ||||||
| iv) Vidya Sahay Scheme (max 1.00 lakh) | 6.90 | 2.00 | 8.90 | ||||||
| v) Vidya Shakthi Scheme (Max 7.5 Lakhs) | 6.90 | 0.00 | 6.90 | ||||||
| ## Concession of 0.50% for prompt servicing of interest during course period under education loan | |||||||||
| # Concession of 0.50% ROI extended to girl students under Education Loan | |||||||||
NIL
NTH:
(i) Salaried Class: 40%
(ii) Non-Salaried Class: Annual EMI commitments shall not be more than 50% of Annual Income.
In case of pre-closure of housing loan liability, liability under “Canara Home Loan Plus” loan account has to be cleared first.
Continuing security of the property mortgaged for Housing Loan.
Further EMT is to be created for “Canara Home Loan Plus”.
Release of security is only on closure of both the loans.
If Loan is sanctioned:
Left over repayment period of existing housing loan or 120 EMIs, whichever is less.
This is subject to clearance of loan before borrower attains the age of 70 years.
0.50% of loan amount; Min Rs.100/-; maximum Rs.500/-
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