Canara Consumption Loan

To provide hassle free finance to existing borrowers in Natural calamity affected areas to meet the consumption & domestic requirements in Rural and Semi Urban areas.

Loans to be extended in Natural calamity declared area
The loan is sanctioned on the basis of “One consumption loan to one household” only.
The loan will be sanctioned only to existing borrowers

Quantum of Finance	Maximum Loan amount of Rs 15,000/-
Margin	Nil
Security	Clean Loans To be classified as unsecured advance
Rate of Interest	One Year MCLR+ 0.20% as on Date of Disbursement. Simple Interest is to be charged on half yearly basis. Penal Interest is not applicable.
Repayment Period	Within 36 months including one year Repayment Holiday. Repayment holiday for both principal and interest. Interest during moratorium to be paid along with future installments. Repayable in monthly/ Quarterly/ Half- yearly/ Yearly installments depending on income generation