RATES OF INTEREST FOR RETAIL LENDING SCHEMES |
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Rates of Interest of all Retail Lending Schemes are linked to FIXED RATE OF INTEREST |
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RLLR OF THE BANK – 8.25%* w.e.f 12.06.2025 |
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The applicable RLLR is as per the following |
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Sl. No |
LOAN PRODUCT |
CRG |
RLLR |
WOMEN BORROWERS |
OTHER BORROWERS |
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1 |
2 |
3 |
4 |
5 |
6 |
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|
|
|
|
Fixed Rate Premium (FRP) |
Credit Risk Premium over RLLR |
Concession |
Effective Rate of Interest under RLLR |
Fixed Rate Premium (FRP) |
Credit Risk Premium over RLLR |
Concession |
Effective Rate of Interest under RLLR |
1 |
HOUSING LOAN |
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APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT) |
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HOUSING LOAN |
CRG-PRIME |
8.25 |
0.75 |
0.00 |
-0.25 |
8.75 |
0.75 |
0.05 |
-0.25 |
8.80 |
|
CRG : 1 |
8.25 |
0.75 |
0.00 |
0.00 |
9.00 |
0.75 |
0.05 |
0.00 |
9.05 |
||
CRG : 2 |
8.25 |
0.75 |
0.05 |
0.00 |
9.05 |
0.75 |
0.10 |
0.00 |
9.10 |
||
CRG : 3 |
8.25 |
0.75 |
0.45 |
0.00 |
9.45 |
0.75 |
0.50 |
0.00 |
9.50 |
||
CRG : 4 |
8.25 |
0.75 |
1.95 |
0.00 |
10.95 |
0.75 |
2.00 |
0.00 |
11 |
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2 |
CANARA VEHICLE LOAN |
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APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT) |
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Canara Vehicle (4 Wheeler Loans including Agriculturists (General) |
CRG-PRIME |
8.25 |
0.75 |
0.10 |
-0.15 |
8.95 |
0.75 |
0.15 |
-0.15 |
9.00 |
|
CRG : 1 |
8.25 |
0.75 |
0.10 |
0.00 |
9.10 |
0.75 |
0.15 |
0.00 |
9.15 |
||
CRG : 2 |
8.25 |
0.75 |
0.25 |
0.00 |
9.25 |
0.75 |
0.30 |
0.00 |
9.30 |
||
CRG : 3 |
8.25 |
0.75 |
0.65 |
0.00 |
9.65 |
0.75 |
0.70 |
0.00 |
9.70 |
||
CRG : 4 |
8.25 |
0.75 |
2.05 |
0.00 |
11.05 |
0.75 |
2.10 |
0.00 |
11.10 |
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APPLICABLE ROI (IRRESPECTIVE OF LOAN AMOUNT) |
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Canara Green Vehicle (4 WHEELER Electric Vehicle including Agriculturist)~ |
CRG-PRIME |
8.25 |
0.75 |
0.00 |
-0.15 |
8.85 |
0.75 |
0.00 |
-0.15 |
8.85 |
|
CRG : 1 |
8.25 |
0.75 |
0.00 |
0.00 |
9.00 |
0.75 |
0.00 |
0.00 |
9.00 |
||
CRG : 2 |
8.25 |
0.75 |
0.15 |
0.00 |
9.15 |
0.75 |
0.15 |
0.00 |
9.15 |
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CRG : 3 |
8.25 |
0.75 |
0.55 |
0.00 |
9.55 |
0.75 |
0.55 |
0.00 |
9.55 |
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CRG : 4 |
8.25 |
0.75 |
2.70 |
0.00 |
11.70 |
0.75 |
2.70 |
0.00 |
11.70 |
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Canara Vehicle (2 Wheelers) |
CRG : 1 |
8.25 |
0.75 |
2.10 |
0.00 |
11.10 |
0.75 |
2.15 |
0.00 |
11.15 |
|
CRG : 2 |
8.25 |
0.75 |
2.25 |
0.00 |
11.25 |
0.75 |
2.30 |
0.00 |
11.30 |
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CRG : 3 |
8.25 |
0.75 |
5.25 |
0.00 |
14.25 |
0.75 |
5.30 |
0.00 |
14.30 |
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CRG : 4 |
8.25 |
0.75 |
7.00 |
0.00 |
16.00 |
0.75 |
7.00 |
0.00 |
16.00 |
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Note:- |
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1.Housing Loan ( All Variants ) includes Housing Loan to Agriculturists, NRIs, Canara Kuteer. |
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2. For Housing Loans under Commercial Real Estate (3rd unit the applibale ROI is 0.25% above the card rate & 4th and subsequent dwelling unit the applicable Rate of Interest shall be 0.50% above the card rate.) based Retail Loans. |
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Sl.No |
LOAN PRODUCT |
CRG |
RLLR |
FRP |
where security is equal to 200% |
where security is equal to >200%=300% |
where security is equal to >300% |
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Credit Risk Premium over RLLR |
Effective Rate of Interest under RLLR |
Credit Risk Premium over RLLR |
Effective Rate of Interest under RLLR |
Credit Risk Premium over RLLR |
Effective Rate of Interest under RLLR |
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3 |
Canara Mortgage |
CRG : 1 |
8.25 |
0.75 |
1.25 |
10.25 |
1.15 |
10.15 |
1.05 |
10.05 |
|
CRG : 2 |
8.25 |
0.75 |
1.50 |
10.50 |
1.40 |
10.40 |
1.30 |
10.30 |
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CRG : 3 |
8.25 |
0.75 |
2.05 |
11.05 |
1.95 |
10.95 |
1.85 |
10.85 |
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CRG : 4 |
8.25 |
0.75 |
3.55 |
12.55 |
3.45 |
12.45 |
3.35 |
12.35 |
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|
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Sl. No |
LOAN PRODUCT |
CRG |
RLLR |
FRP |
Credit Risk Premium over RLLR |
Effective Rate of Interest under RLLR |
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1 |
2 |
3 |
4 |
5 |
6 |
7 |
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4 |
*Canara Vehicle (4 Wheelers) to Firms/Companies (General & Electric Vehicle) |
NA |
8.25 |
0.75 |
0.30 |
9.30 |
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OTHER RETAIL LENDING SCHEMES |
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5 |
@HOME IMPROVEMENT LOAN |
CRG : 1 |
8.25 |
0.75 |
2.50 |
11.50 |
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CRG : 2 |
8.25 |
0.75 |
2.55 |
11.55 |
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CRG : 3 |
8.25 |
0.75 |
3.05 |
12.05 |
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CRG : 4 |
8.25 |
0.75 |
4.55 |
13.55 |
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@ The subject scheme is discontinued w.e.f 14.02.2023 and the applicable ROI shall continue for existing loans. |
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6 |
CANARA HOME LOAN PLUS - Term Loan |
CRG : 1 |
8.25 |
0.75 |
0.55 |
9.55 |
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CRG : 2 |
8.25 |
0.75 |
0.60 |
9.60 |
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CRG : 3 |
8.25 |
0.75 |
1.10 |
10.10 |
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CRG : 4 |
8.25 |
0.75 |
2.60 |
11.60 |
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7 |
CANARA SITE |
CRG : 1 |
8.25 |
0.75 |
1.05 |
10.05 |
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CRG : 2 |
8.25 |
0.75 |
1.10 |
10.10 |
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CRG : 3 |
8.25 |
0.75 |
1.60 |
10.60 |
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CRG : 4 |
8.25 |
0.75 |
2.10 |
11.10 |
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8 |
CANARA JEEVAN |
NA |
8.25 |
0.75 |
1.60 |
10.60 |
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9 |
CANARA BUDGET-INDIVIDUAL |
CRG : 1 |
8.25 |
0.75 |
4.35 |
13.35 |
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CRG : 2 |
8.25 |
0.75 |
4.40 |
13.40 |
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CRG : 3 |
8.25 |
0.75 |
4.90 |
13.90 |
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CRG : 4 |
8.25 |
0.75 |
6.40 |
15.40 |
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CANARA BUDGET-PRIME (WITH SALARY TIE-UP) |
CRG : 1 |
8.25 |
0.75 |
1.40 |
10.40 |
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CRG : 2 |
8.25 |
0.75 |
1.40 |
10.40 |
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CRG : 3 |
8.25 |
0.75 |
1.40 |
10.40 |
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CRG : 4 |
8.25 |
0.75 |
6.40 |
15.40 |
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CANARA BUDGET-PRIME (WITHOUT SALARY TIE-UP) |
CRG : 1 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 2 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 3 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 4 |
8.25 |
0.75 |
6.40 |
15.40 |
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CANARA BUDGET-DELIGHT (WITH SALARY TIE-UP) |
CRG : 1 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 2 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 3 |
8.25 |
0.75 |
2.40 |
11.40 |
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CRG : 4 |
NOT ELIGIBLE FOR LOAN |
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10 |
CANARA CASH |
NA |
8.25 |
0.75 |
6.55 |
15.55 |
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11 |
*TEACHERS LOAN |
CRG : 1 |
8.25 |
0.75 |
4.00 |
13.00 |
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CRG : 2 |
8.25 |
0.75 |
4.05 |
13.05 |
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CRG : 3 |
8.25 |
0.75 |
4.55 |
13.55 |
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CRG : 4 |
8.25 |
0.75 |
6.05 |
15.05 |
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*The subject scheme is discontinued w.e.f 02.01.2024 and the applicable ROI shall continue for existing loans. |
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12 |
ALL OTHER PERSONAL Loans |
CRG : 1 |
8.25 |
0.75 |
5.50 |
14.50 |
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CRG : 2 |
8.25 |
0.75 |
5.55 |
14.55 |
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CRG : 3 |
8.25 |
0.75 |
6.05 |
15.05 |
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CRG : 4 |
8.25 |
0.75 |
7.00 |
16.00 |
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13 |
Loans To Individuals Against Other Approved Securities |
8.25 |
0.75 |
0.25 |
9.25 |
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14 |
CANARA PENSION |
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a. General Public (including Family pensioners) |
8.25 |
0.75 |
2.50 |
11.50 |
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b. Our Bank Retirees |
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i) Loan to our Bank Retired Employees and their Family Pensioners |
8.25 |
0.75 |
2.00 |
11.00 |
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ii) To avail loan for payment of Annual Premium of the IBA group Mediclaim Insurance Policy |
8.25 |
0.75 |
0.50 |
9.50 |
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15 |
CANARA HOME LOAN SECURE |
NA |
8.25 |
0.75 |
0.10 |
9.10 |
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16 |
EDUCATION LOANS: |
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i. Vidya Sagar Scheme (Loan Quantum) *$ |
a. upto Rs.7.50 lakh |
8.25 |
0.75 |
2.00 |
11.00 |
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b. above Rs. 7.50 lakh |
8.25 |
0.75 |
1.60 |
10.60 |
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ii. IBA Skill Loan (Max. Rs.7.50 lakh) $ |
8.25 |
0.75 |
1.50 |
10.50 |
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iii. Vidya Turant Scheme |
a.with co-borrower |
8.25 |
0.75 |
0.00 |
9.00 |
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b.with out co-borrower |
8.25 |
0.75 |
0.60 |
9.60 |
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c. Select Top 7 Premium Institutes |
8.25 |
0.75 |
-0.65 |
8.35 |
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^NEW EDUCATION LOAN SCHEME FOR PURSUING MASTER’S DEGREE IN ABROAD FROM SELECT TOP RANKING UNIVERSITIES OF WORLD |
COLL . SECURITY 100% & above |
8.25 |
0.75 |
1.60 |
10.60 |
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COLL. SECURITY 75% & above (less than 100%). |
8.25 |
0.75 |
1.85 |
10.85 |
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COLL. SECURITY 50% & above (less than 75%). |
8.25 |
0.75 |
2.10 |
11.10 |
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iv.Vidya Sahay Scheme (max.Rs.1.00 lakh) |
8.25 |
0.75 |
2.00 |
11.00 |
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v. Vidya Shakthi (Max Rs.7.50 lakhs) |
8.25 |
0.75 |
0.00 |
9.00 |
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17 |
PM Vidyalaxmi Scheme |
"AAA" Category Institutitons |
8.25 |
0.75 |
-0.25 |
8.75 |
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"AA" Category Institutitons |
8.25 |
0.75 |
-0.25 |
8.75 |
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"A" Category Institutitons |
8.25 |
0.75 |
-0.25 |
8.75 |
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18 |
Housing Loan – For Customer with minimal/nil income proof” |
CIC Score Above 750 |
8.25 |
0.75 |
0.75 |
9.75 |
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CIC Score 681 & upto 750, and (-1 to 99 in case of borrower having no credit history) |
8.25 |
0.75 |
1.00 |
10.00 |
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CIC Score 680 & below (Sub-Prime Risk Tier) |
8.25 |
0.75 |
1.25 |
10.25 |
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19 |
Canara Rooftop Solar (CRTS) – PM Surya Ghar Yojana (PMSGY) |
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a) CRTS - PMSGY – upto Rs. 2.00 Lakhs |
8.25 |
0.75 |
-2.25 |
6.75 |
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b) CRTS - PMSGY– above Rs. 2.00 Lakhs |
8.25 |
0.75 |
0.75 |
9.75 |
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20 |
Canara-HEAL |
8.25 |
0.75 |
2.30 |
11.30 |
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21 |
Canara Readycash |
8.25 |
0.75 |
2.70 |
11.70 |
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22 |
Canara Insta MF Loan |
8.25 |
0.75 |
1.00 |
10.00 |
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*Concession of 0.50% ROI extended to girl students under Education Loans |
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$ Concession of 0.50% for prompt servicing of Interest during course period under Education Loans |
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^the ROI linked with collateral security |
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Applicable Administrative Costs/Switchover Charges in case of Interest Rate Regime conversion (i.e Floating to Fixed or vice-versa) for EMI based Retail loans is @0.25% of the loan amount with Min of Rs 250/- +GST & Maximum upto Rs 25,000/+GST |