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RATES OF INTEREST FOR RETAIL LENDING SCHEMES

 

 2.RATES OF INTEREST FOR RETAIL LENDING SCHEMES

Rates of Interest of all Retail Lending Schemes are linked to ONE YEAR MCLR OF THE BANK

ONE YEAR MCLR OF THE BANK – 8.60% w.e.f. 07.07.2019

2.1 Housing Loans:

For Housing Loans under Commercial Real Estate (3rd & subsequent dwelling Unit), the applicable rate shall be the above rate + 0.50%

 Scheme Name

 

Women Borrowers

Other Borrowers

Loan Quantum

Rate Of Interest

Present Interest Rates

Rate Of Interest

Present Interest Rates

i.     HOUSING LOAN,

ii.    HOUSING LOAN TO AGRICULTURISTS,

iii.   HOUSING LOAN TO NRIs,

iv.   YUVA AWAS RIN ( CANYAR),

v.    HOUSING LOAN TO SENIOR CITIZENS*,

vi.   PRADHANMANTRI AWAS YOJNA (PMAY)*

vii.  HOUSING CUM SOLAR LOAN

CIC – RISK GRADE - LOW RISK Category

Irrespective of LOAN Limit to Salaried Class

One year MCLR

8.60%

One year MCLR

8.60%

OTHER CATEGORIES

Up to Rs. 30 Lakhs

 


Above Rs 30 Lakhs & Upto Rs. 75 Lakhs

One year MCLR+ 0.05%

 

One year MCLR+ 0.15%

8.65%

 

 

8.75%

 

 

One year MCLR+ 0.10%

 

One year MCLR+ 0.20%

 

8.70%

 

 

8.80%

Above Rs.75 Lakhs

One year MCLR+ 0.20%

8.80%

One year MCLR +0.25%

8.85%

HOUSING LOAN CRE
(3rd and subsequent dwelling unit)

CIC – RISK GRADE - LOW RISK Category

Irrespective of LOAN Limit to Salaried Class

One year MCLR + 0.50%

9.10%

One year MCLR+ 0.50%

9.10%

OTHER CATEGORIES

Up to Rs. 30 Lakhs

One year MCLR+ 0.55%

9.15%

One year MCLR+0.60% 

9.20%

Above Rs 30 Lakhs & Upto Rs. 75 Lakhs

One year MCLR+ 0.65%

9.25%

One year MLLR +0.70%

9.30%

Above Rs.75 Lakhs

One year MCLR+ 0.70%

9.30%

One year MCLR+ 0.75%

9.35%

 HOME IMPROVEMENT LOAN

One Year MCLR + 2.45%

11.05%

CANARA HOME LOAN PLUS

Term Loan

One Year MCLR + 0.50%

9.10%

Over Draft

One Year MCLR + 1.00%

9.60%

 

2.2 Canara Vehicle Loan :

 Scheme Name

Description

Rate Of Interest

Present Interest Rates

Car Loan –

CANARA VEHICLE LOAN CANARA VEHICLE LOAN

TO AGRICULTURISTS

Women Borrower ( Vehicle Should be registered in the name of woman )

One Year MCLR + 0.30% to 0.85%

 ( Linked to CIC Score)

8.90% to 9.45%

Other Borrowers

One Year MCLR + 0.35% to 0.95%

 ( Linked to CIC Score)

8.95% to 9.55%

Two Wheeler -                         Women Borrower

CANARA VEHICLE                 ( Vehicle should be registered in the 

                                                        name of woman)

One Year MCLR + 3.00% to 3.40%

 ( Linked to CIC Score)

11.60% to 12.00%

Other Borrowers

One Year MCLR + 3.05% to 3.45%

( Linked to CIC Score)

11.65% to 12.05%

 

2.3. Mortgage Loans :

 Scheme Name

Description

Rate Of Interest

Present Interest Rates

CANARA SITE

One Year MCLR + 1.00%

9.60%

CANARA MORTGAGE

One Year MCLR + 3.00%

11.60%

CANARA RENT

For Navaratna PSUs, AAA rated Companies, Fortune 500 Companies, MNCs, Banks,

Insurance Companies

One Year MCLR + 2.00%

10.60%

For General Companies

One Year MCLR + 2.30%

10.90%

For Property Leased out to Canara Bank

One Year MCLR + 1.80%

10.40%

CANARA JEEVAN

One Year MCLR + 1.50%

10.10%

 

2.4 Education Loans :

 Loan Quantum

ROI

Present Interest Rates

VIdhya Turan Loan Scheme

One Year MCLR + 0.20%

8.80%

Up to Rs. 4 Lakhs *

One Year MCLR + 2.00%

10.60%

> Rs. 4 Lacs to Rs. 7.50 Lakhs *

One Year MCLR + 2.00%

10.60%

>Rs. 7.50 lakhs *

One Year MCLR + 1.80%

10.40%

 IBA´s Model Loan scheme for Vocational Education & Training *

One Year MCLR + 1.50%

10.10%

 * The concession of 0.50% on the above applicable ROI extended to girl students.

 

2.5.Other Retail lending schemes :

 Scheme Name

Description

Rate Of Interest

Present Interest Rates

CANARA CONSUMER LOAN

One Year MCLR + 4.45%

13.05%

SWARNA LOAN

One Year MCLR + 3.30%

11.90%

CANARA BUDGET

With Salary tie-up

One Year MCLR + 4.30%

12.90%

Without Salary tie-up

One Year MCLR + 5.30%

13.90%

For BSNL Employees

One Year MCLR + 2.30%

10.90%

CANARA PENSION

One Year MCLR + 3.20%

11.80%

TEACHERS LOAN

One Year MCLR + 3.95%

12.55%

CANARA CASH

One Year MCLR + 6.45%

15.05%

ALL OTHER PERSONAL LOANS (including Loans to Individuals against other approved securities)

One Year MCLR + 5.45%

14.05%