Canara Bank Loan Against Property

Here are a few factors

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Location PAN India
CIBIL Score 675+
Applicant Any Salaried or Self Employed Person
Applicant Age 18 Year to 75 Year
Loan Amount & Tenure 10 Lac to No Limit
(1 Year to 7 Year)
Login Fees NIL
Rate of Interest & Type 9.50% to 12% (Reducing)
TAT 15 Days
Processing Fees Upto 1% of Loan amount
Foreclosure Charges NIL
Insurance Property Insurance
Minimum Business Vintage 2 Year
Lock In Period NIL
Part Payment Allowed Yes
LTV Upto 60% of Market Value
Product BT+Top UP, Fresh Loan, Seller BT, LRD
Program Income Program
FOIR 1. Salaried- 4-6 Time of gross annual Salary
2. Self Employed-4-5 time of average annual income of last 3 year 
Cautious Profile No Cautious Profile
Negative Profile No Negative Profile
Funded Property Residential Property, Commercial Property, Industrial Property, Plot,
School, Hospital, Hotel, Mall, Godown
Negative Property Un-approved Property
Accepted Collateral Other than negative property
Specific Property wise Funding Limit NA
Any Specific Product for Professionals No
USP No Negative Profile
Additional 1. Chain of property must be clear Property chain for last 30 year

Canara Bank Loan Against Property EMI Calculator

Interest Type

Loan Amount

Interest Rate

%

Loan Tenure

Mo
Loan Amount100,000
Interest %9 %
Tenure (months)12
Emi (monthly)8,745
Total Interest4,942
Loan Amount + Interest104,942
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
24,1652,07026,23575,83524.16 %
Oct7,9957508,74592,0057.99 %
Nov8,0556908,74583,95016.05 %
Dec8,1156308,74575,83524.16 %
75,8322,87378,7053100.00 %
Jan8,1765698,74567,65932.34 %
Feb8,2385078,74559,42140.58 %
Mar8,2994468,74551,12248.88 %
Apr8,3623838,74542,76057.24 %
May8,4243218,74534,33665.66 %
Jun8,4872588,74525,84974.15 %
Jul8,5511948,74517,29882.70 %
Aug8,6151308,7458,68391.32 %
Sep8,680658,7453100.00 %
Right Documents - Easy Process

Required Documents to Apply for Canara Bank Loan Against Property

Salaried income documents

  • KYC of applicant & Co-Applicant
  • Last 3 Month Salary Slip of Applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 2 Year Form 16 of applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Appointment letter of applicant if available
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Latest utility Bill if owned residence or rent agreement if rented
  • 2 Reference with contact details

Self Employed person documents

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If LAP is applied with Government Bank then 30 year chain is required
3. If applicant is professional, then his professional degree is required

About Canara Bank Loan Against Property

Keep your precious property in use so that it might be a useful financial asset. With the help of a Loan Against Property, you can take advantage of a wide range of possibilities. To find out how it can support you in achieving your objectives, just apply for it at Canara Bank.

Ask for a Canara Bank Loan Against Property with a maximum amount of Rs. 10 crores and a 10-year term at 9.95% p.a. Canara Bank Loans Against Property are offered as personal loans for unforeseen costs such as unplanned personal or health-related emergencies. Both salaried and self-employed individuals may qualify for a customized Canara Bank Property Loan with a manageable EMI schedule.

Key highlights of Canara Bank Loan Against Property

The sudden need for finances is sometimes unavoidable, whether personally or professionally. So, consider a loan against property as the first and best option for immediate funds. Also, as per the market trends, Canara Bank Loan Against Property has been acting like a boom because of its lowest interest rates and higher loan amounts. Let us move ahead in this article and learn more about the benefits and other details of Canara Bank Loan Against Property

01
Visit Our Website

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

02
Select and Apply

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

03
Submit Your Document

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

04
Enjoy Your Financial Freedom!

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

Leave Your Question

FREQUENTLY ASKED QUESTIONS

With an impact from 7 May 2019, the benchmark rate for Canara Mortgage is the 1-year MCLR, with a rate of 8.70%.

Your ability to repay the loan depends on its maximum amount as well as the market value, age, and overall condition of your property. Customers may get up to 50% of the property's worth based on the bank's appraisal by the Panel Valuer. 10 crore is the highest permitted capital on the loan amount.

7 years is the longest loan period that Canara Bank would provide for a loan against property. Later, under unique circumstances, this term may be extended to 10 years. Only EMIs will be used to repay the loan.

Interest rates for Canara Mortgages begin at 10.35%.

Residential, commercial, and industrial properties are typically accepted by Canara Bank as LAP collateral. According to the terms and guidelines of the bank, they may include business premises, properties for rental, vacant property, and independently owned residential homes.