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  • Canara

  • Home Loan Plus
  • Lower Rate of Interest.
  • No upper limit on loan amount.
  • Reducing Balance Interest Rate.
  • No Prepayment penalty.
  • Minimal processing charges.
Purpose To meet domestic needs/ medical expenses / educational expenses of children/dependents/ unforeseen contingencies etc., other than speculative purposes.
Loan Quantum
  • Salaried Individuals
    24 months gross salary subject to maximum of Rs 50.00 lakhs
  • Other than Salaried Individuals
    Two times of 3 years average gross income of the applicant subject to a maximum of Rs.50.00 lakhs.
Margin & NTH (Net Take Home)
  • Margin to be maintained is NIL
  • Net Take Home is 25% for Salaried Class & 30% for Non Salaried Class
Processing Charges
  • Nominal processing fee of 0.50% on the loan amount with a Minimum of Rs. 100/- & Maximum of Rs. 500/- is charged.
Documentation Charges
  • Nominal charges of Rs 100/- per lac part thereof with Minimum of Rs.1000/- and Maximum Rs. 25000/-
Security
  • Continuing security of the property mortgaged for Housing Loan
  • Further EMT is to be created for “Canara Home Loan Plus”.
  • Release of security is only on closure of both the loans.
Repayment tenure
  • Left over repayment period of existing housing loan or 180 EMIs, whichever is less.
  • In case of pre-closure of housing loan liability, liability under “Canara Home Loan Plus” loan account has to be cleared first.
  • Existing housing loan borrowers in the age group of 18 to 75 years, whose have a satisfactory repayment track record irrespective of period run with our Bank subject to specific terms and conditions subject to scheme guidelines.
  • In case of joint loan accounts the age of the youngest borrower shall be reckoned in line with Housing Loan guidelines.
  • Stipulated Loan Application with 2 passport size photos of applicant / Co-applicants or guarantor.
  • KYC documents of applicant/ Co-applicants or guarantor
  • Proof of Identity
    PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.
  • Proof of Residence
    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
    • Latest 6 months salary slips (including co-applicants) and latest original salary certificate with details of deduction.
    • 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:
    • Property Documents.
    • Project Completion Certificate.
    • Occupancy certificate.
  • 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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Last updated on 12-12-2025 8:10 AM

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