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  • Higher loan quantum.
  • NIL processing charges.
  • Lower Rate of Interest.
  • Reducing Balance Interest Rate.
  • No pre-payment penalty.
  • Quick loan approval & disbursement.
Purpose To meet any personal/domestic needs of the proposed borrower and not for speculative purpose.
Quantum
  • Canara Budget – Prime : 25 months’ gross salary subject to a maximum Rs. 30.00 Lakh. (Higher quantum also can be considered selectively).
  • Canara Budget – Delight : 25 months’ gross salary subject to a maximum Rs. 20.00 Lakh. (Higher quantum also can be considered selectively).
Processing Charges 50% in applicable processing charges (Applicable charges are 0.50% of Loan Amount, Minimum of Rs 1000/-+GST and Maximum of Rs 5000/-+GST) shall be collected till 30.06.2024.
Repayment Tenure
  • In convenient Equated Monthly Instalments upto 84 months for Term Loan.
  • Renewal in 2 years in Overdraft.
  • Option for keeping the EMI fixed during the entire loan period (Term Loan).
  • The minimum Net Take Home Pay should not be less than 25% or Rs. 10,000/- per month whichever is higher after meeting the existing and proposed loan instalments.
Security
  • Co-obligation of spouse/ legal heir of the borrower.
  • Wherever spouse/legal heir of the borrower is not available, suitable Co-obligation good for the loan amount and acceptable to the Bank.
  • Canara Budget – Prime :
    • All the confirmed employees of Central Government / State Government / Personnel from Defence and Paramilitary Forces / PSUs & Autonomous Bodies of Central & State Govt.
    • Should have minimum 1 year of service & confirmed in the service.
    • In case of loans sanctioned based on salary credit, salary for the last one year shall be credited in the salary account maintained with our Bank.
  • Canara Budget – Delight :
    • All the confirmed employees of Reputed Corporates /MNCs / Public & Private Ltd. Companies/Private Institutions / Universities, Reputed Schools, Reputed Colleges, Reputed Hospitals & IT BT Companies.
    • Should have minimum 1 year of service & confirmed in the service.
  • Canara Budget-Prime
    • With Salary Tie-up: Rate of Interest ranges from RLLR+1.40% to RLLR+6.40%.
    • Without Salary Tie-up: Rate of Interest ranges from RLLR+2.40% to RLLR+6.40%.
  • Canara Budget-Delight

    With Salary Tie-up: Rate of Interest is RLLR+2.40%.

  • Click here for Rate of Interest
  • Stipulated Loan Application with 2 passport size photos of applicant / Co-applicant or guarantor.
  • KYC documents of applicant/Co-applicant or guarantor.
  • Proof of Residence (Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
  • Latest 6 months’ salary slips/Salary Certificate (including Co-applicants) and Form No.16 & ITR if any.
  • Irrevocable Salary Mandate from Employer (wherever applicable).
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Last updated on 25-08-2023 11:41 AM

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