Among other types of loans Canara Bank also provide home loan to its customers. Canara offers home loans at a repayment tenure of 25 years maximum. The maximum age of the loanee should not be more than 70 years at the time of maturity of loan. The loan amount can be upto the 80% to 85% of the value of property which you want to buy. The property should be legal approved and should not be disputed. The property for which the loan is being taken will be collateral for the loan itself.
Salaried, self-employed and NRIs are all eligible for the loan according to their income. If your spouse is working you can also make him/her a co-applicant for the loan. With the home loan they also offer an insurance cover for the loan in case of any calamities or accidents. The processing fees is 0.5% of the loan amount sanctioned by the bank. In case of pre-payment of the loan no charge will be levied. Interest rate is floating and is 11.75%.