Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Check Eligibility

The Canara Bank Personal Loan is one of the more popular financial instruments offered by the bank. Enabling you to address your needs with quick financing, this loan comes with interest rates ranging from 13.60% to 16.25% per annum. 

Here’s an overview of Canara Bank Personal Loan interest rate and other details:

Canara Bank Personal Loan Details

Loan Amount

15 months gross salary, up to ₹15 Lakhs

Interest Rate

13.60% p.a. – 16.25% p.a., depending on the loan type

Repayment Tenure

Maximum 84 months, depending on other factors

Processing Fee

0.5% of the approved loan amount, minimum ₹1,000 and maximum ₹5,000

Disclaimer: The above rates and figures are subject to change at the bank’s discretion.

Canara Bank Personal Loan Interest Rate

The Canara Bank offers several types of personal loans, which come with different interest rates. Below is the table containing the Canara Bank Personal Loan interest rate details for top loan schemes:

Canara Budget Individual

13.60% - 15.65% per annum

Canara Budget Special Package

13.65% - 14.65% per annum

Canara Teachers Loan

13.25% - 15.30% per annum

Other Personal Loan

14.75% - 16.25% per annum

*Interest rates are subject to market conditions and financial institutions’ discretion.

Canara Bank Personal Loan Fees & Charges

In addition to the interest rate, lenders also levy processing fees and other charges to your personal loan. As such, knowing these charges can give you a more holistic idea of your borrowing costs. 

The processing fee applicable is 0.50% of the loan amount, with the minimum amount payable being ₹1,000 and the maximum fee is ₹5,000.

This means that if your loan amount is ₹90,000, your processing would be ₹1,000 as 0.50% of 90,000 is under the ₹1,000 limit. On the other hand, if your loan amount is ₹11 Lakhs, your processing fee would be ₹5,000, as 0.50% of 11,00,000 is above the maximum cap.

Be sure to read through the terms and conditions of your loan agreement carefully to know any hidden costs and make an informed decision. This also helps ensure that you don’t get blindsided by high prepayment charges, if any, at the time of repayment.

Canara Bank Personal Loan EMI Calculator

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Types of Canara Bank Personal Loans

As mentioned above, the Canara Bank Personal Loan comes in different types, giving you the option to choose one that best suits your needs. Here are some of the top personal loans offered by Canara Bank:

  • Canara Budget Individual

Offered to individuals, this personal loan comes with interest rates going down to 13.60% per annum. You can avail this personal loan for an amount of up to ₹15 Lakhs to meet your domestic needs. It also has a comfortable repayment tenure going up to 84 months.

  • Canara Budget Special Package

Similar to the Canara Budget Individual loan, this personal loan offers interest rates that vary depending on whether or not there is a salary tie-up. If there is a salary tie-up, the interest rate goes down to 13.65% per annum and to 14.65% if there’s no tie-up.

  • Canara Teachers Loan

This is a personal loan especially curated for the teaching and non-teaching staff whose salary is drawn through the bank’s branches. With this, you can get a loan of up to ₹3 Lakhs, with interest going down to 13.25%, if you meet the Canara Bank Personal Loan eligibility criteria. 

There are other types of Canara Bank Personal Loans. Apply for the one that best suits your needs without straining your finances.

Canara Bank Personal Loan Features & Benefits

Flexible Repayment

You can choose to repay the Canara Bank Personal Loan amount in easy EMI instalments, as the bank offers repayment tenure of up to 84 months. 

Floating Interest Rate

The Canara Bank Personal Loan interest rate follows the floating interest rate system, and it fluctuates in response to changes in the bank's lending rate.

Speedy Approval

You do not have to wait for weeks for your loan to be approved. You can get access to the sanctioned funds within days.

Minimal Documentation

The bank requires minimal paperwork to sanction the personal loan. This ensures that you can quickly apply for the loan and get access to the funding you need.

Canara Bank Personal Loan Eligibility

When choosing any personal loan, including the Canara Bank Personal Loan, apply only if you meet the eligibility criteria. This way, you increase the chances of approval and can enjoy quick access to the fund. 

Listed below are the Canara Bank Personal Loan eligibility criteria you need to meet: 

1. As a salaried individual, you need to:

  • Be between 21-60 years

  • Have a minimum monthly income as per the conditions

  • Have work experience of at least 12 months

2. As a self-employed applicant, you need to:

  • Be between 21-60 years

  • Have IT returns of the last 3 years

  • Have gross annual receipts as per the bank’s terms


It is important to remember that these eligibility terms may vary depending on the type of loan you choose. So, be sure to check your loan-specific Canara Bank Personal Loan eligibility terms before applying.

Documents Required for Canara Bank Personal Loan

It is important that you have all the documents required for a Canara Bank Personal Loan. Apply online or offline once you have these documents to enjoy a seamless application process. 

Here is a list of documents you need to apply for a personal loan.

1. For Salaried Applicants:

  • Identity proof: Driving licence, Aadhaar card, Voter ID card

  • Residential proof: Utility bills, Rent agreement, Aadhaar card, Passport 

  • Passport size photographs

  • PAN card

  • Age proof

  • Salary slips for the last three months

  • Bank statements for the previous three months

  • Form 16

2. For Self-employed Applicants:

  • Identity proof: Driving licence, Aadhaar card, Voter ID card

  • Residential proof: Utility bills, Rent agreement, Aadhaar card, Passport 

  • Passport size photographs

  • PAN card

  • Age proof

  • ITR/Form 16

  • Bank statements for the previous three months


For a specific Canara Bank Personal Loan, documents required may vary. So, check or confirm the documents required before beginning the application to enjoy a seamless and quick process.

How to Apply for Canara Bank Personal Loan

For a quicker application process for a Canara Bank Personal Loan, apply online. Here are the steps to follow. 

  • Step 1. Go to the official website, click on the “Personal Loan” option on the main page

  • Step 2: Select the appropriate option between “Upto One Lakh” and “More Than One Lakh” 

  • Step 3: Fill the application form with your name, DOB, PAN, and Account number

  • Step 4: Click on “Get OTP”. Complete the application process, and click on “Get Loan Quote”


You may also apply for a Canara Bank Personal Loan at your local branch. The dedicated bank personnel will walk you through the entire procedure. Be sure to carry the necessary documents for a more seamless process.

How Can I Get in Touch with Canara Bank Customer Care?

To reach the customer care team of Canara Bank, you can call at 

Toll-free numbers (if calling from within India): 

  • 18004250018

  • 18001030018

  • 18002083333

  • 180030113333

Call +91-80-22064232 if you are calling from outside the country. You can also go to your nearest branch to get quick assistance.


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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What is the maximum Canara Bank Personal Loan amount I can avail?

You can get a personal loan of up to ₹15 Lakhs, depending on your loan type and eligibility.

Is there an age limit to apply for Canara Bank Personal Loan?

Yes. You need to be between the age of 21 – 60 years to apply for a personal loan.

How much time does it take for the Canara Bank Personal Loan to be approved?

Approval and disbursal time vary depending on numerous factors. Generally, the bank will sanction your loan within days, but it can be longer.

How can I calculate Canara Bank Personal Loan EMI?

To calculate the EMI, use the personal loan EMI calculator. Enter the loan amount, tenure, and interest rate to see your monthly instalment amount and your total interest amount.

How to check Canara Bank Personal Loan application status?

You can check the application status with your application number given when you submit the form. You can either visit the website or contact customer support for the same.

What is the minimum credit score required to avail Canara Bank Personal Loan?

You need to have a credit score of 750 and above, as a higher score will improve your chances of availing affordable financing. However, you can still avail a personal loan with a low credit score, but you may have to pay a higher interest amount.

What is the turnaround time for the disbursal of a Canara Bank Personal Loan?

Post-approval, you may receive the loan amount from Canara Bank within 2 to 7 days.

What is the minimum salary requirement to get a personal loan from Canara Bank?

There is no set salary requirement for a personal loan from Canara Bank. However, having a substantial income and stable job can increase the likelihood of your loan application being approved. 

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