RATES OF INTEREST FOR RETAIL LENDING SCHEMES

 

Rates of Interest of all Retail Lending Schemes are linked to

FIXED RATE OF INTEREST
RLLR OF THE BANK – 9.25%* w.e.f 12.04.2024

 

*The reviewed rate will be applicable only to new accounts opened on or after 12.04.2024 & accounts completing 3 years under RLLR regime on or after 12.04.2024. The accounts having not completed 3 years under RLLR regime will continue to be at earlier RLLR i.e. 9.40%. Further, the benchmark fixed under Fixed Interest Rate Regime shall be for 3 years.

 

Sl. No

LOAN PRODUCT

CRG

RLLR

WOMEN BORROWERS

OTHER BORROWERS

(1)

(2)

(3)

(4)

(5)

(6)

 

 

 

Internal
 

Fixed Rate Premium (FRP)

Credit Risk Premium over RLLR

Concession

Effective Rate of Interest under RLLR

Fixed Rate Premium (FRP)

Credit Risk Premium over RLLR

Concession

Effective Rate of Interest under RLLR

1

                      HOUSING LOAN

APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT)

HOUSING LOAN

CRG-PRIME

9.25

0.75

0.00

-0.25

9.75

0.75

0.05

-0.25

9.80

CRG : 1

9.25

0.75

0.00

0.00

10.00

0.75

0.05

0.00

10.05

CRG : 2

9.25

0.75

0.05

0.00

10.05

0.75

0.10

0.00

10.10

CRG : 3

9.25

0.75

0.45

0.00

10.45

0.75

0.50

0.00

10.50

CRG : 4

9.25

0.75

1.95

0.00

11.95

0.75

2.00

0.00

12.00

2

                          CANARA VEHICLE LOAN

APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT)

Canara Vehicle (4 Wheeler Loans including Agriculturists (General)

CRG-PRIME

9.25

0.75

0.10

-0.15

9.95

0.75

0.15

-0.15

10.00

CRG : 1

9.25

0.75

0.10

0.00

10.10

0.75

0.15

0.00

10.15

CRG : 2

9.25

0.75

0.25

0.00

10.25

0.75

0.30

0.00

10.30

CRG : 3

9.25

0.75

0.65

0.00

10.65

0.75

0.70

0.00

10.70

CRG : 4

9.25

0.75

2.05

0.00

12.05

0.75

2.10

0.00

12.10

APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT)

Canara Green Vehicle (4 WHEELER Electric Vehicle including Agriculturist)~

CRG-PRIME

9.25

0.75

0.00

-0.15

9.85

0.75

0.00

-0.15

9.85

CRG : 1

9.25

0.75

0.00

0.00

10.00

0.75

0.00

0.00

10.00

CRG : 2

9.25

0.75

0.15

0.00

10.15

0.75

0.15

0.00

10.15

CRG : 3

9.25

0.75

0.55

0.00

10.55

0.75

0.55

0.00

10.55

CRG : 4

9.25

0.75

2.70

0.00

12.70

0.75

2.70

0.00

12.70

Canara Vehicle         (2  Wheelers)

CRG : 1  

9.25

0.75

2.10

0.00

12.10

0.75

2.15

0.00

12.15

CRG : 2  

9.25

0.75

2.25

0.00

12.25

0.75

2.30

0.00

12.30

CRG : 3

9.25

0.75

5.25

0.00

15.25

0.75

5.30

0.00

15.30

CRG : 4

9.25

0.75

7.00

0.00

17.00

0.75

7.00

0.00

17.00

Note:-
1.Housing Loan ( All Variants ) includes Housing Loan to Agriculturists, NRIs, Canara Kuteer and Super Gain.
2. For Housing Loans under Commercial Real Estate (3rd unit the applibale ROI is 0.25% above the card rate & 4th and subsequent dwelling unit  the applicable Rate of Interest shall be 0.50% above the card rate.) based Retail Loans.

Sl.No

LOAN PRODUCT

CRG

RLLR

FRP

where security is equal to 200%

where security is equal to >200%=300%

where security is equal to >300%

Credit Risk Premium over RLLR

Effective Rate of Interest under RLLR

Credit Risk Premium over RLLR

Effective Rate of Interest under RLLR

Credit Risk Premium over RLLR

Effective Rate of Interest under RLLR

3

Canara Mortgage

CRG : 1  

9.25

0.75

1.25

11.25

1.15

11.15

1.05

11.05

CRG : 2  

9.25

0.75

1.50

11.50

1.40

11.40

1.30

11.30

CRG : 3

9.25

0.75

2.05

12.05

1.95

11.95

1.85

11.85

CRG : 4

9.25

0.75

3.55

13.55

3.45

13.45

3.35

13.35

 

Sl. No

LOAN PRODUCT

CRG

RLLR

FRP

Credit Risk Premium over RLLR

Effective Rate of Interest under RLLR

(1)

(2)

(3)

(4)

(5)

(6)

(7)

4

*Canara Vehicle (4 Wheelers) to  Firms/Companies (General & Electric Vehicle)

NA

9.25

0.75

0.30

10.30

OTHER RETAIL LENDING SCHEMES

5

@HOME IMPROVEMENT LOAN

CRG : 1

9.25

0.75

2.50

12.50

CRG : 2

9.25

0.75

2.55

12.55

CRG : 3

9.25

0.75

3.05

13.05

CRG : 4

9.25

0.75

4.55

14.55

@ The subject scheme is discontinued w.e.f 14.02.2023 and the applicable ROI shall continue for existing loans.

6

CANARA HOME LOAN PLUS - Term Loan

CRG : 1

9.25

0.75

0.55

10.55

CRG : 2

9.25

0.75

0.60

10.60

CRG : 3

9.25

0.75

1.10

11.10

CRG : 4

9.25

0.75

2.60

12.60

7

CANARA SITE

CRG : 1

9.25

0.75

1.05

11.05

CRG : 2

9.25

0.75

1.10

11.10

CRG : 3

9.25

0.75

1.60

11.60

CRG : 4

9.25

0.75

2.10

12.10

8

CANARA JEEVAN

NA

9.25

0.75

1.60

11.60

9

CANARA BUDGET-INDIVIDUAL

CRG : 1

9.25

0.75

4.35

14.35

CRG : 2

9.25

0.75

4.40

14.40

CRG : 3

9.25

0.75

4.90

14.90

CRG : 4

9.25

0.75

6.40

16.40

CANARA BUDGET-PRIME (WITH SALARY TIE-UP)

CRG : 1

9.25

0.75

1.40

11.40

CRG : 2

9.25

0.75

1.40

11.40

CRG : 3

9.25

0.75

1.40

11.40

CRG : 4

9.25

0.75

6.40

16.40

CANARA BUDGET-PRIME (WITHOUT SALARY TIE-UP)

CRG : 1

9.25

0.75

2.40

12.40

CRG : 2

9.25

0.75

2.40

12.40

CRG : 3

9.25

0.75

2.40

12.40

CRG : 4

9.25

0.75

6.40

16.40

CANARA BUDGET-DELIGHT (WITH SALARY TIE-UP)

CRG : 1

9.25

0.75

2.40

12.40

CRG : 2

9.25

0.75

2.40

12.40

CRG : 3

9.25

0.75

2.40

12.40

CRG : 4

9.25

0.75

NOT ELIGIBLE FOR LOAN

13

CANARA CASH

NA

9.25

0.75

6.55

16.55

14

*TEACHERS LOAN

CRG : 1

9.25

0.75

4.00

14.00

CRG : 2

9.25

0.75

4.05

14.05

CRG : 3

9.25

0.75

4.55

14.55

CRG : 4

9.25

0.75

6.05

16.05

*The subject scheme is discontinued w.e.f 02.01.2024 and the applicable ROI shall continue for existing loans.

15

ALL OTHER PERSONAL Loans

CRG : 1

9.25

0.75

5.50

15.50

CRG : 2

9.25

0.75

5.55

15.55

CRG : 3

9.25

0.75

6.05

16.05

CRG : 4

9.25

0.75

7.00

17.00

16

Loans To Individuals Against Other Approved Securities 

9.25

0.75

0.25

10.25

17

CANARA PENSION

 

    a. General Public (including Family pensioners)

9.25

0.75

2.50

12.50

  b. Our Bank Retirees

 

i)  Loan to our Bank Retired Employees and their Family Pensioners      

9.25

0.75

2.00

12.00

ii) To avail loan for payment of Annual Premium of the IBA group Mediclaim Insurance Policy

9.25

0.75

0.50

10.50

18

CANARA HOME LOAN SECURE

NA

9.25

0.75

0.10

10.10

19

                    EDUCATION LOANS:

i. Vidya Sagar Scheme  (Loan Quantum) *$

a. upto Rs.7.50 lakh

9.25

0.75

2.00

12.00

b. above Rs. 7.50 lakh

9.25

0.75

1.60

11.60

    ii.  IBA Skill Loan (Max. Rs.1.50 lakh)   $

9.25

0.75

1.50

11.50

iii. Vidya Turant Scheme

a.with co-borrower

9.25

0.75

0.00

10.00

b.with out co-borrower

9.25

0.75

0.60

10.60

c. Select Top 76 Premium Institutes

9.25

0.75

-0.65

9.35

^NEW EDUCATION LOAN SCHEME FOR PURSUING MASTER’S DEGREE IN ABROAD     FROM SELECT TOP RANKING UNIVERSITIES OF WORLD

COLL . SECURITY 100% & above

9.25

0.75

1.60

11.60

COLL.  SECURITY 75% & above (less than 100%).

9.25

0.75

1.85

11.85

COLL. SECURITY 50% & above (less than 75%).

9.25

0.75

2.10

12.10

iv.Vidya Sahay Scheme (max.Rs.1.00 lakh)

9.25

0.75

2.00

12.00

v. Vidya Shakthi (Max Rs.7.50 lakhs)

9.25

0.75

0.00

10.00

20

Canara Rooftop Solar (CRTS) – PM Surya Ghar Yojana (PMSGY)

a) CRTS - PMSGY – upto 3kW

9.25

0.75

-2.25

7.75

b) CRTS - PMSGY– above 3kW to 10kW

9.25

0.75

0.75

10.75

21

Canara-HEAL

9.25

0.75

2.30

12.30

22

Pre-Approved Personal Loan Facility-“Canara Ready Cash”

9.25

0.75

2.70

12.70

*Concession of 0.50% ROI extended to girl students under Education Loans

$ Concession of 0.50% for prompt servicing of Interest during course period under Education Loans

^the ROI linked with collateral security

 

Applicable Administrative Costs/Switchover Charges in case of Interest Rate Regime conversion (i.e Floating to Fixed or vice-versa) for EMI based Retail loans is @0.25% of the loan amount with Min of Rs 250/- +GST & Maximum upto Rs 25,000/+GST