If you ever find yourself in need of urgent funds for personal use, you’d want a safe and trusted bank to turn to. That’s where Canara Bank comes in. With its secure, flexible, and low-interest personal loan options, Canara Bank is making it easier than ever to get a loan online from the comfort of your home.
Under Canara Bank’s Personal Loan Scheme, you can borrow anywhere from ₹25,000 to ₹10 lakh, depending on your financial need and profile — with easy repayment terms of up to 7 years.
Key Features of Canara Bank Personal Loan
- ✅ Loan amount: ₹25,000 to ₹10,00,000
- ✅ Interest rate starts from just 10.95% per annum
- ✅ No security or collateral required
- ✅ Flexible repayment tenure: up to 84 months (7 years)
- ✅ Use for any personal purpose – marriage, travel, medical, home renovation, or debt consolidation
- ✅ Fast approval with minimal documentation
Eligibility Criteria for Canara Bank Personal Loan
To apply for a personal loan from Canara Bank, you must meet the following eligibility conditions:
- Must be a resident of India
- Age between 21 to 60 years
- Minimum monthly income: ₹15,000 or more
- Must be either a salaried individual or a self-employed professional/business owner
- CIBIL Score should be 720 or above (Higher score = better loan offer)
Documents Required for Canara Bank Personal Loan
Make sure you have these documents ready while applying:
- Aadhaar Card
- PAN Card
- Residence Proof
- Income Proof / Salary Slips (last 3 months)
- Form 16 (for salaried individuals)
- ITR for last 2 years (for self-employed)
- Bank statement for last 6 months
- Passport-size photo
- Mobile number
Interest Rate & Processing Fee
- Interest Rate: Starts at 10.95% and may go up to 16.40% per annum
- Interest rate depends on your CIBIL score, income, and liabilities
- Example: If your CIBIL score is above 760, you may get the loan at just 12.45% p.a.
- Processing Fee: Around 5.5% of loan amount
How to Apply Online for Canara Bank Personal Loan?
Follow these simple steps to apply online:
- Visit the official Canara Bank website.
- On the homepage, go to the ‘Personal Loan’ section.
- Click on ‘Apply Online’.
- A new page will open with the online loan application form.
- Fill in all your details carefully – name, income, loan amount, tenure, etc.
- Upload the scanned copies of all required documents.
- Review and submit the application.
