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canara bank
  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Announcements
  • Careers
  • Personal Banking canara
    • Savings & Deposits
    • Loan Products
    • Technology Products
    • Mutual Funds
    • Insurance Business
    • International Services
    • Card Services
    • Consultancy Services
    • Depository Services
    • Ancillary Services
    • Approved Housing Projects
    • How To Apply
  • Corporate Banking canara
    • Accounts & Deposits
    • Supply Chain
    • Loans & Advances
    • Syndication Services
    • IPO Monitoring Activity
    • Merchant Banking
    • TUF Schemes
    • Canara eTax
  • Investor Relation canara
    • Contact Us
    • Appeal to Physical Shareholders of Canara Bank
    • Join 20th e-AGM [NEW]
  • Canara Easy Fee
  • NRI Banking canara
    • Deposit Products
    • Loans & Advances
    • Remittance Facilities
    • Investment Facilities
    • Consultancy Services
    • Other Services
    • NRI News Bulletin
    • Contact Details
    • FAQs
    • FATCA / CRS - Self Declaration Form
  • Priority Portal canara
    • Schemes
    • RRB Section
    • Agri-Marketing
    • Agricultural Innovation Centre
    • Rural Development
    • CED for Women
    • Sustainable Development and Corporate Social Responsibility (SD-CSR)
    • Lead Bank
    • In Promotion Of Self Employment
    • RURAL DEVELOPMENT SCHEMES
    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
  • Home
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  • Home Improvement Loan
  • Canara Kuteer–Housing Loan Scheme
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.

Home Improvement Loan

Purpose

“Home Improvement Loan Scheme” provides a packaged financial assistance to individuals for furnishing their houses / flats at incredibly low rates of interest."

  • For purchase of household furniture items, refrigerator, fans, air conditioner/s, to put up wardrobes or any other household item/s.

Eligibility

  • Owners of House / flat who are salaried individuals / individuals engaged in business / professionals / self-employed. NRIs  are also eligible.
  • Salaried individuals should have a minimum monthly net take home salary of 25% of their gross salary or Rs. 2000/- after meeting the loan instalments for the proposed loan.
  • Professionals and other non-salaried persons should have a minimum annual income of Rs. 50000/- to be evidenced by Income Tax assessment order / return.

QUANTUM

  • Upto 20% of total Housing Loan sanctioned amount OR One Year’s Gross Salary/Gross Income whichever is less.

Margin

  • If the loan under this scheme is availed as a part of housing finance, then, the margin as stipulated under housing finance may be prescribed for this loan too. In other cases, a uniform margin of 20% may be stipulated.
  • In the case of Repairs & Renovations, expansion of existing unit, upgradation and creation of additional amenities, a uniform margin of 25% on project cost is applicable. The margin is stipulated on the total project cost.
  • In case of Housing Loans where project cost is up to Rs.10 lacs, Stamp duty, Registration Charges and other Documentation Charges can be included in the project cost for the purpose of stipulating margin as well as LTV ratio.
  • Where the project cost exceeds Rs.10 lacs, the margin is stipulated only on the basic project cost which shall not include expenses towards Stamp Duty, Registration and other Documentation Charges.

  • Net Take Home: Salaried-> Minimum percentage of Net Income/NTH 25% (after EMI) with a minimum amount of Rs.10000/-.

Rate of Interest

Click Here..

Security

  • Hypothecation of assets created out of this loan.
  • Mortgage of house / flat
  • Suitable co-obligation / personal guarantee. Waiver considered selectively.

Repayment

  • Residual tenure of underlying Housing Loan OR 7 years, whichever is lower, subject to borrower attains the age of 70 years.

Processing Charges

  • The processing charges payable is 0.5% of the loan amount subject to a minimum of Rs. 1500/- and maximum of Rs. 10000/- (subject to change from time to time)

Disbursements

  • Amount will be normally disbursed only after acquiring ready built house / flat or completion of construction of house / flat or completion of repairs / renovations, etc., where the loan is availed along with housing finance. In case this loan is sanctioned independent of a housing loan then, the loan can also be disbursed against proforma invoice, etc.

Documents

  • Stipulated Loan application with 2 passport size photographs
  • Latest Salary Certificate and Form No.16
  • ITAO / IT Returns (for professionals and non-salaried persons)
  • Proforma Invoices, cost estimates

EMI Calculator

  • EMI Calculator
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.
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Last Updated on: 17/05/2022 |   Visitors: 41716        

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