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Canara Bank

Canara Bank offers home loans starting at 9.30% p.a. for up to 30 years, with a processing fee of 0.50% and zero prepayment charges for floating rate home loans. Borrowers can avail loans up to 4 times their gross annual income or up to 5 years’ gross income in select cases. Loans up to Rs. 15 lakh are available for repairs or renovations, and Canara Bank also offers loans to persons over 60 years of age, subject to certain preconditions.

Canara Bank

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Canara Bank

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Mode of Process	Online
Location	Pan India
Lending Size and Tenure	6 X Gross Annual Salary (1 to 30 years)
ROI	9.30% - 11.25%
ROI (Fixed/Reducing)	Floating
Foreclosure	As per Policies
Processing Fees	Up to 0.50%
Partial Payment Allowance	YES
USP	Offers home loans up to 90% of the property value, loans up to Rs. 15 lakhs for repairs or renovations, and housing loans for people over 60 with preconditions.

Canara Bank EMI Calculator

Interest Type

FlatReducing

Loan Amount

₹

Interest Rate

Loan Tenure

YearsMonths

Loan Amount	₹100,000
Interest %	6 %
Tenure (months)	12
Emi (monthly)	₹ 8,607
Total Interest	₹ 3,280
Loan Amount + Interest	₹ 103,280

Year

Total Principal
( A )

Total Interest
( B )

Balance
( A + B)

Total Payment

Loan Paid Till Date (%)

2023

₹ 57,607

₹ 2,642

₹ 60,249

₹ 42,393

57.61 %

Jun	₹ 8,107	₹ 500	₹ 8,607	₹ 91,893	8.11 %
Jul	₹ 8,148	₹ 459	₹ 8,607	₹ 83,745	16.25 %
Aug	₹ 8,188	₹ 419	₹ 8,607	₹ 75,557	24.44 %
Sep	₹ 8,229	₹ 378	₹ 8,607	₹ 67,328	32.67 %
Oct	₹ 8,270	₹ 337	₹ 8,607	₹ 59,058	40.94 %
Nov	₹ 8,312	₹ 295	₹ 8,607	₹ 50,746	49.25 %
Dec	₹ 8,353	₹ 254	₹ 8,607	₹ 42,393	57.61 %

2024

₹ 42,397

₹ 638

₹ 43,035

₹ 0

100.00 %

Jan	₹ 8,395	₹ 212	₹ 8,607	₹ 33,998	66.00 %
Feb	₹ 8,437	₹ 170	₹ 8,607	₹ 25,561	74.44 %
Mar	₹ 8,479	₹ 128	₹ 8,607	₹ 17,082	82.92 %
Apr	₹ 8,522	₹ 85	₹ 8,607	₹ 8,560	91.44 %
May	₹ 8,564	₹ 43	₹ 8,607	₹ 0	100.00 %

Work Process

Start with Canara Bank Home Loan in few step

Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Right Documents - Easy Process

Required Documents

PAN Card

Aadhaar Card

Driving Licence

Voter ID

Passport

Registered rent agreement

Current passport size photograph

Eligibility

Resident Indian/NRI/PIO eligible
Salaried, self-employed, and professionals are eligible individuals.
Group, association of individuals, HUF, and corporates are eligible non-individuals
Trust is not eligible
Age eligibility is between 18 to 70 years

Documents required for self-employed person for Bank of Maharashtra Home Loan:

Application form with photos, signed
Identity, address, and age proof
ITR and financial statements (certified by CA)
Past 12 months' bank statement
Partnership deed (for firms)
Memorandum and Articles of Association (for companies)
LLP Agreement (for Limited Liability Partnership)
Title document of property with business address proof

Documents required for salaried person for Bank of Maharashtra Home Loan:

Application form with photos, signed
Identity, address, and age proof
Last 3 months' salary slip
Past 6 months' bank statement
Form16 and ITR details of 2 years
Title documents of the property
Balance Sheet & Profit & Loss A/c for last 3 years
Business License Details (or equivalent)
TDS Certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ Doctor and other professionals)

Let us take an example, How Home Loan Emi is being calculated.

For instance, if "Shubham" applies for a Home loan of INR 10 Lacs and get the loan sanctioned at the rate of 10 % with a tenure range of 10 years or 120 Months , in such a case his EMI would be INR 13,215 and complete repayment amount till the end of 10 years tenure would be 15,85,809 (i.e 13,215 EMI * 120 months),, wherein the total interest amount is INR 5,85,809 along with principal repayment of INR 10,00,000.Few additional charges like those of minimal one-time processing fee upto 7% of loan amount may apply. T& C apply.

Year	EMI	Interest Paid	Principle Paid	Outstanding Balance
2022	₹13215.07	₹49382.95	₹29907.47	₹1506518.42
Jul	₹13215.07	₹8333.33	₹4881.74	₹1572593.77
Aug	₹13215.07	₹8292.65	₹4922.42	₹1559378.70
Sep	₹13215.07	₹8251.63	₹4963.44	₹1546163.63
Oct	₹13215.07	₹8210.27	₹5004.80	₹1532948.56
Nov	₹13215.07	₹8168.56	₹5046.51	₹1519733.49
Dec	₹13215.07	₹8126.51	₹5088.56	₹1506518.42
2023	₹13215.07	₹94107.33	₹64473.54	₹1347937.58
Jan	₹13215.07	₹8084.10	₹5130.97	₹1493303.35
Feb	₹13215.07	₹8041.35	₹5173.73	₹1480088.28
Mar	₹13215.07	₹7998.23	₹5216.84	₹1466873.21
Apr	₹13215.07	₹7954.76	₹5260.32	₹1453658.14
May	₹13215.07	₹7910.92	₹5304.15	₹1440443.07
Jun	₹13215.07	₹7866.72	₹5348.35	₹1427228.00
Jul	₹13215.07	₹7822.15	₹5392.92	₹1414012.93
Aug	₹13215.07	₹7777.21	₹5437.86	₹1400797.86
Sep	₹13215.07	₹7731.89	₹5483.18	₹1387582.79
Oct	₹13215.07	₹7686.20	₹5528.87	₹1374367.72
Nov	₹13215.07	₹7640.13	₹5574.95	₹1361152.65
Dec	₹13215.07	₹7593.67	₹5621.40	₹1347937.58
2024	₹13215.07	₹87356.11	₹71224.78	₹1189356.74
Jan	₹13215.07	₹7546.82	₹5668.25	₹1334722.51
Feb	₹13215.07	₹7499.59	₹5715.48	₹1321507.44
Mar	₹13215.07	₹7451.96	₹5763.11	₹1308292.37
Apr	₹13215.07	₹7403.93	₹5811.14	₹1295077.30
May	₹13215.07	₹7355.51	₹5859.57	₹1281862.23
Jun	₹13215.07	₹7306.68	₹5908.40	₹1268647.16
Jul	₹13215.07	₹7257.44	₹5957.63	₹1255432.09
Aug	₹13215.07	₹7207.79	₹6007.28	₹1242217.02
Sep	₹13215.07	₹7157.73	₹6057.34	₹1229001.95
Oct	₹13215.07	₹7107.26	₹6107.82	₹1215786.88
Nov	₹13215.07	₹7056.36	₹6158.72	₹1202571.81
Dec	₹13215.07	₹7005.04	₹6210.04	₹1189356.74
2025	₹13215.07	₹79897.95	₹78682.93	₹1030775.90
Jan	₹13215.07	₹6953.29	₹6261.79	₹1176141.67
Feb	₹13215.07	₹6901.10	₹6313.97	₹1162926.60
Mar	₹13215.07	₹6848.49	₹6366.59	₹1149711.53
Apr	₹13215.07	₹6795.43	₹6419.64	₹1136496.46
May	₹13215.07	₹6741.94	₹6473.14	₹1123281.39
Jun	₹13215.07	₹6687.99	₹6527.08	₹1110066.32
Jul	₹13215.07	₹6633.60	₹6581.47	₹1096851.25
Aug	₹13215.07	₹6578.75	₹6636.32	₹1083636.18
Sep	₹13215.07	₹6523.45	₹6691.62	₹1070421.11
Oct	₹13215.07	₹6467.69	₹6747.39	₹1057206.04
Nov	₹13215.07	₹6411.46	₹6803.61	₹1043990.97
Dec	₹13215.07	₹6354.76	₹6860.31	₹1030775.90
2026	₹13215.07	₹71658.81	₹86922.05	₹872195.06
Jan	₹13215.07	₹6297.59	₹6917.48	₹1017560.83
Feb	₹13215.07	₹6239.95	₹6975.13	₹1004345.76
Mar	₹13215.07	₹6181.82	₹7033.25	₹991130.69
Apr	₹13215.07	₹6123.21	₹7091.86	₹977915.62
May	₹13215.07	₹6064.11	₹7150.96	₹964700.55
Jun	₹13215.07	₹6004.52	₹7210.55	₹951485.48
Jul	₹13215.07	₹5944.43	₹7270.64	₹938270.41
Aug	₹13215.07	₹5883.85	₹7331.23	₹925055.34
Sep	₹13215.07	₹5822.75	₹7392.32	₹911840.27
Oct	₹13215.07	₹5761.15	₹7453.92	₹898625.20
Nov	₹13215.07	₹5699.03	₹7516.04	₹885410.13
Dec	₹13215.07	₹5636.40	₹7578.67	₹872195.06
2027	₹13215.07	₹62556.94	₹96023.92	₹713614.22
Jan	₹13215.07	₹5573.24	₹7641.83	₹858979.99
Feb	₹13215.07	₹5509.56	₹7705.51	₹845764.92
Mar	₹13215.07	₹5445.35	₹7769.72	₹832549.85
Apr	₹13215.07	₹5380.60	₹7834.47	₹819334.78
May	₹13215.07	₹5315.31	₹7899.76	₹806119.71
Jun	₹13215.07	₹5249.48	₹7965.59	₹792904.64
Jul	₹13215.07	₹5183.10	₹8031.97	₹779689.57
Aug	₹13215.07	₹5116.17	₹8098.90	₹766474.50
Sep	₹13215.07	₹5048.68	₹8166.39	₹753259.43
Oct	₹13215.07	₹4980.63	₹8234.45	₹740044.36
Nov	₹13215.07	₹4912.01	₹8303.07	₹726829.29
Dec	₹13215.07	₹4842.81	₹8372.26	₹713614.22
2028	₹13215.07	₹52501.99	₹106078.90	₹555033.38
Jan	₹13215.07	₹4773.04	₹8442.03	₹700399.15
Feb	₹13215.07	₹4702.69	₹8512.38	₹687184.08
Mar	₹13215.07	₹4631.76	₹8583.32	₹673969.01
Apr	₹13215.07	₹4560.23	₹8654.84	₹660753.94
May	₹13215.07	₹4488.11	₹8726.97	₹647538.87
Jun	₹13215.07	₹4415.38	₹8799.69	₹634323.80
Jul	₹13215.07	₹4342.05	₹8873.02	₹621108.73
Aug	₹13215.07	₹4268.11	₹8946.97	₹607893.66
Sep	₹13215.07	₹4193.55	₹9021.52	₹594678.59
Oct	₹13215.07	₹4118.37	₹9096.70	₹581463.52
Nov	₹13215.07	₹4042.57	₹9172.51	₹568248.45
Dec	₹13215.07	₹3966.13	₹9248.95	₹555033.38
2029	₹13215.07	₹41394.13	₹117186.75	₹396452.54
Jan	₹13215.07	₹3889.05	₹9326.02	₹541818.31
Feb	₹13215.07	₹3811.34	₹9403.74	₹528603.24
Mar	₹13215.07	₹3732.97	₹9482.10	₹515388.17
Apr	₹13215.07	₹3653.95	₹9561.12	₹502173.10
May	₹13215.07	₹3574.28	₹9640.80	₹488958.03
Jun	₹13215.07	₹3493.94	₹9721.14	₹475742.96
Jul	₹13215.07	₹3412.93	₹9802.14	₹462527.89
Aug	₹13215.07	₹3331.24	₹9883.83	₹449312.82
Sep	₹13215.07	₹3248.88	₹9966.19	₹436097.75
Oct	₹13215.07	₹3165.83	₹10049.25	₹422882.68
Nov	₹13215.07	₹3082.08	₹10132.99	₹409667.61
Dec	₹13215.07	₹2997.64	₹10217.43	₹396452.54
2030	₹13215.07	₹29123.16	₹129457.74	₹237871.70
Jan	₹13215.07	₹2912.50	₹10302.58	₹383237.47
Feb	₹13215.07	₹2826.64	₹10388.43	₹370022.40
Mar	₹13215.07	₹2740.07	₹10475.00	₹356807.33
Apr	₹13215.07	₹2652.78	₹10562.29	₹343592.26
May	₹13215.07	₹2564.76	₹10650.31	₹330377.19
Jun	₹13215.07	₹2476.01	₹10739.07	₹317162.12
Jul	₹13215.07	₹2386.52	₹10828.56	₹303947.05
Aug	₹13215.07	₹2296.28	₹10918.80	₹290731.98
Sep	₹13215.07	₹2205.29	₹11009.79	₹277516.91
Oct	₹13215.07	₹2113.54	₹11101.53	₹264301.84
Nov	₹13215.07	₹2021.03	₹11194.05	₹251086.77
Dec	₹13215.07	₹1927.74	₹11287.33	₹237871.70
2031	₹13215.07	₹15567.22	₹143013.65	₹79290.86
Jan	₹13215.07	₹1833.68	₹11381.39	₹224656.63
Feb	₹13215.07	₹1738.84	₹11476.24	₹211441.56
Mar	₹13215.07	₹1643.20	₹11571.87	₹198226.49
Apr	₹13215.07	₹1546.77	₹11668.30	₹185011.42
May	₹13215.07	₹1449.53	₹11765.54	₹171796.35
Jun	₹13215.07	₹1351.49	₹11863.59	₹158581.28
Jul	₹13215.07	₹1252.62	₹11962.45	₹145366.21
Aug	₹13215.07	₹1152.94	₹12062.14	₹132151.14
Sep	₹13215.07	₹1052.42	₹12162.65	₹118936.07
Oct	₹13215.07	₹951.06	₹12264.01	₹105721.00
Nov	₹13215.07	₹848.86	₹12366.21	₹92505.93
Dec	₹13215.07	₹745.81	₹12469.26	₹79290.86
2032	₹13215.07	₹2262.21	₹77028.26	₹0.44
Jan	₹13215.07	₹641.90	₹12573.17	₹66075.79
Feb	₹13215.07	₹537.13	₹12677.95	₹52860.72
Mar	₹13215.07	₹431.48	₹12783.60	₹39645.65
Apr	₹13215.07	₹324.95	₹12890.13	₹26430.58
May	₹13215.07	₹217.53	₹12997.55	₹13215.51
Jun	₹13215.07	₹109.22	₹13105.86	₹0.44

FREQUENTLY ASKED QUESTIONS

No, direct online application for housing loan is not available at the moment.

. No, Canara Bank does not charge any additional interest on loans taken for purchasing a second house.

You can transfer your home loan balance to Canara Bank by applying for the balance transfer option and contacting bank executives for interest rate and other terms.

Yes, women applicants can avail a 5 bps concession on home loan interest rates at Canara Bank.

Yes, you can prepay your floating rate home loan at Canara Bank without any prepayment charges.

Refer Loan is a Phy-zital Fintech that connects Lenders and Borrowers digitally as well physically. It provides a Financial Bouquet to the users with multiple Financial solutions. Its AI-based detailed comparison enables users to find the best financial product from the best financial institutions.

Canara Bank

Rate of Interest : 9.30% -11.25%

Min Salary Required : To be communicated at the time of sourcing

Processing Fees : Up to 0.50% (Min Rs.1500/- and Max. Rs.10,000/-)

Cibil Score : 750 or above*

Canara Bank

Here are a few factors

Product Rating

Canara Bank EMI Calculator

Interest Type

Loan Amount

Interest Rate

Loan Tenure

Start with Canara Bank Home Loan in few step

Visit Our Website

Select and Apply

Submit Your Document

Enjoy Your Financial Freedom!

Required Documents

Eligibility

Resident Indian/NRI/PIO eligible

Salaried, self-employed, and professionals are eligible individuals.

Group, association of individuals, HUF, and corporates are eligible non-individuals

Trust is not eligible

Age eligibility is between 18 to 70 years

Documents required for self-employed person for Bank of Maharashtra Home Loan:

Application form with photos, signed

Identity, address, and age proof

ITR and financial statements (certified by CA)

Past 12 months' bank statement

Partnership deed (for firms)

Memorandum and Articles of Association (for companies)

LLP Agreement (for Limited Liability Partnership)

Title document of property with business address proof

Documents required for salaried person for Bank of Maharashtra Home Loan:

Application form with photos, signed

Identity, address, and age proof

Last 3 months' salary slip

Past 6 months' bank statement

Form16 and ITR details of 2 years

Title documents of the property

Balance Sheet & Profit & Loss A/c for last 3 years

Business License Details (or equivalent)

TDS Certificate (Form 16A, if applicable)

Certificate of qualification (for C.A./ Doctor and other professionals)

Let us take an example, How Home Loan Emi is being calculated.

FREQUENTLY ASKED QUESTIONS

Is it possible to apply for Canara Bank housing loan online?

Will I be charged an additional interest for a second residential property loan?

How can I transfer my existing home loan to Canara Bank?

Does Canara Bank offer lower interest rates for women applying for home loans?

Can I prepay my home loan without any charges?