Canara Bank Home Loan | Canara Bank Home Loan Plus

Lower Rate of Interest.
No upper limit on loan amount.
Reducing Balance Interest Rate.
No Prepayment penalty.
Minimal processing charges.

Purpose
For purchase of House/flat/plot of land. Construction/extension / repair / renovation of new / second hand residential flat /house.
Loan Quantum
Minimum Amount of Rs 20.00 lakhs with no upper limit on Maximum amount
Margin & NTH (Net Take Home)

Amount of Housing Loans	In case of New House/ Flat & Old House/ Flat (Up to 10 Years Old)	In case of Old House/Flat (> 10 Years old)
Upto Rs. 30.00 Lacs	10%	25%
Above Rs. 30.00 Lacs & upto Rs.75.00 Lacs	20%
Above Rs. 75.00 Lacs	25%

Processing charges
- Nominal processing fee of 0.40% on the loan amount with a Minimum of Rs. 2000/- & Maximum of Rs. 50000/- is charged.
- Bank is celebrating Retail Loan Festival and waiver of 100% processing charges from 01.09.2023 to 31.12.2023
Security
Mortgage of House/Flat.
Repayment tenure
Not Exceeding 30 years of repayment (Including repayment holiday) or 75 years of age of the borrower whichever is earlier.
Prepayment
At your choice. In case of take over of liability by other banks/HFIs, no prepayment penalties in respect of Housing Loans carrying floating rate of interest.

Facility shall be made available to new as well as existing Home Loan (sanctioned / outstanding amount) of Rs.20.00 lakhs and above.

Stipulated Loan Application with 2 passport size photos of applicant / Co-applicants or guarantor
KYC documents of applicant/ Co-applicants or guarantor
- Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
Age proof of the applicant/ Co-applicants.
PAN card (photo copy)
Salaried individuals
- Bank statement of salary account for past 6 months.
- Proof of confirmed service of 3 years: -
  Form No.16 & ITR if any supported by Employee ID/Appointment Letter/ Confirmation in services evidencing duration of the employment/3 years IT Returns
Business/Self-Employed individuals
- Balance Sheet and Profit & Loss account for past three assessment years.
- ITR/ITAO filed for past three assessment years.
- In case of agricultural income is also included in ITR, Copy of lands records.
- Statement of Bank Account.
- Brief note on the nature of business.
- Proof of Business
NRI applicants
- Proof of identity
  Copy of first 4 pages of passport and page with visa stamp, or IC/PIO card.
- Valid work permit
- Copy of salary certificate duly attested by Indian Embassy/ Consulate/ Employer
- Account statement/ passbook of overseas bank showing salary and savings.
- Notarized Power of Attorney, if applicant proposes to authorize a third party to execute the documents/ complete the mortgage formalities/ avail the loan instalments.

Documents required based on the loan purpose :

For Construction of House	For purchase of Ready-Built House	For purchase of Flats
Title deeds of the property and link documents for the last 13 years.	Title deeds of the property and link documents for the last 13 years.	Title Deeds of Builder for last 13 years.
Encumbrance Certificate for past 13 years.	Encumbrance Certificate for past 13 years.	Encumbrance Certificate for past 13 years.
Khata Certificate/ Khata Extract	Khata Certificate/ Khata Extract.	Khata Certificate/ Khata Extract.
Upto date tax paid receipts of the property.	Upto date tax paid receipts of the property.	Upto date tax paid receipts of the property.
Copy of the approved plan for the proposed construction / extension / addition.	Copy of the approved plan	Sketch of Flat
An affidavit-cum-undertaking that applicant shall not violate the sanctioned plan, construction shall be strictly as per the sanctioned plan.	An affidavit-cum-undertaking from the applicant declaring that the built up property has been constructed as per the sanctioned plan and/or building bye-laws	Sanctioned Plan & License from competent authority.
Completion Certificate (within 3 months of completion of construction).	Completion Certificate.	Copy of Occupancy Certificate by Local Authority.
Allotment letter of Co-operative Society/Housing Board (wherever applicable)	Agreement of sale of property.	Agreement of Sale with Applicant.
In case of allotment of a plot by the Society, documents to be submitted are as follows : Extract of the Resolution Bye laws of the Society Payment receipts(original) Share Certificate(original) Title Certificate Property Register card extract Building Commencement Certificate.		Original Registration Receipts Original Stamp Duty Receipts (if any) Original receipts issued by the Builder to the Purchaser of the flat Certified copy of the Building commencement certificate Builder’s Demand Notice Property Register card extract
NOC from Society/Association/Builder/Housing Board (Wherever applicable).		NOC from Banker of Builder (wherever Project finance has been availed by the builder)
Copy of Lease Deed (wherever applicable)	Copy of Lease Deed (wherever applicable)	Original Sale Deed executed by builder in favour of purchaser.
	KYC documents of seller of property.

Additional Documents in case of Takeover from Other Bank/ FI
- NOC from existing Banker regarding pre-closure.
- List of original documents held by Transferor Bank along with their attest copy
- Copy of Sanction Letter
- Statement of Loan Account from date of sanction
Any other documents as required by Bank.

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Interest Rate Range on Loans

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