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canara bank
  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Amalgamation
  • 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
  • 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
  • Net Banking
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  • Housing-Cum-Solar Loan
  • Canara Kuteer–Housing Loan Scheme
Got any Questions?
Call us Today!

Toll Free Numbers

Canara Bank
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.

Housing-cum-Solar Loan

PURPOSE

Loan to individuals for installation of Roof Top Solar Photovoltaic (PV) System along with our Housing Loan.

Housing Loan:

As applicable to our Housing Finance Scheme. However, loans for purchase/construction of flats shall not be permitted under this scheme.

Solar Loan:

For the purchase and installation of Roof Top Solar Photovoltaic (PV) System on the roof top of house as a part of Home Loan OR without Housing Loan.

The Solar Loans:

  • Can be sanctioned along with fresh Housing Loan on the same eligibility conditions.
  • Can be sanctioned to applicants who are having subsisting Housing Loans.

Can be granted independently against the mortgage of residential / house property which is having free rooftop to install the Solar Equipment Even without Housing Loan.

In all the above case Mortgage of House property is mandatory.

ELIGIBILITY

Individual Housing Loan borrowers as per Housing Finance Scheme who are having free rooftop to install the Solar Equipments.

QUANTUM

HOUSING LOAN COMPONENT-

  1. General Housing Loan: 6 times of Gross Annual Income.
  2. HL to NRIs: 4 times of Gross Annual Income.
  3. HL to Agriculturists: 6 times of Gross Annual Income.
  4. Canara Home Loan Super Gain: Minimum of Rs 20 lakhs. Maximum- No upper limit.

SOLAR LOAN COMPONENT

20% of eligible quantum under Housing Loan Component

OR

80% of the Cost of the Solar system

OR

Rs. 10.00 Lacs

Whichever is less.

 

MARGIN (on Project Cost)

Amount of Housing Loan

In case of New House/ Flat  & Old House/ Flat (Up to 10 Years Old)

In case of Old House/ Flat (> 10 Years old)

Up to Rs. 30.00 Lakhs

10%

 

 

25%

Above Rs. 30.00 lakhs & Up to Rs. 75.00 Lakhs

20%

Above Rs. 75.00 Lakhs

25%

*In case of Housing Loan for Repairs & Renovation uniform Margin of 25% on project cost irrespective of the Housing Loan amount.

*Solar Loan Component: 20% of the Project Cost

RATE OF INTEREST

Click here for Rate of Interest

SECURITY

  • Mortgage of House.
  • Hypothecation of Assets created out of loan i.e. Solar Equipment.

REPAYMENT

  • Maximum 20 Years in EMIs OR the repayment period stipulated under Housing Loan, whichever is earlier.

PROCESSING CHARGES

  • Nominal processing fee of 0.50% (Min Rs.1500/- and Max. Rs.10,000/-) is charged.

SUBSIDY

Eligible as per Scheme

  • 30% of benchmark cost in general States
  • 70% of the benchmark Cost in special category States i.e. North Eastern States including Sikkim, Uttarakhand, Himachal Pradesh, J&K, Lakshadweep, Andaman and Nicobar Islands.

(To be released by MNRE subject to availability of Funds)

EMI Calculator

  • EMI Calculator
Got any Questions?
Call us Today!

Toll Free Numbers

Canara Bank
1800 425 0018
1800 103 0018
e-Syndicate
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: 10011        

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