Hey everyone, does anyone know what interest rates and processing fees Canara Bank charges for personal loans these days? I’m thinking of applying and want to get a clear idea of how much it’ll cost. Thanks!
Here’s what I found about Canara Bank personal loans, based on the latest info:
Interest Rates
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Under the Canara Budget scheme, rates typically start from 10.95% p.a., and can go up to 15.95%, depending on your credit score and salary tie-up.
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For customers with a salary account tied to the bank, the rate can be as low as 9.95% p.a., depending on your risk grade.
Processing Fees
- The charge is usually 0.5% of the loan amount, but it won’t be less than ₹1,000 or more than ₹5,000. In some cases, they offer up to 50% off on the processing fee.
Canara Bank also doesn’t penalize you for paying off your loan early there are no prepayment charges to worry about.
Quick Snapshot
| Component | Details |
|---|---|
| Interest Rate | Starts at 9.95% p.a., usually 10.95%–15.95% depending on profile |
| Processing Fee | 0.5% of loan amount, ₹1,000–₹5,000 range; partial waivers may apply |
