CANARA BANK- LOANS AND INTEREST RATE

KINDLY NOTE : Interest rates are subject to change at short intervals. Though all efforts are being made to update the interest rates in our website, please obtain latest interest rates from your nearest branch.

REVISION IN BPLR AND LENDING RATES

Bank's BPLR is revised to 13.25 with effect from 01.07.2008. Accordingly all the lending rates linked to BPLR is revised upwards by 0.50% with effect from 01.07.2008

REVISION IN LENDING RATES ON HOUSING LOANS TO CUSTOMERS

A) ROI on housing loans w.e.f. 07.02.2008:

Repayment period of the loan REVISED ROI (%) w.e.f. 07.02.2008
Loans upto Rs. 20 Lakhs Loans above Rs. 20 Lakhs
Upto 5 years 10.00 10.25
Above 5 yrs & upto 10 yrs 10.25 10.50
Above 10 yrs & upto 25 yrs 10.50 10.75

The revised rate of interest as above is applicable for fresh loans only.

Additional interest @ 0.25 % above the card rates for acquisition of second house/flat.

B) Margin for housing loans:

Margin
Loans up toRs.20 lacs Loans above Rs.20 lacs
New house/flat 15 % 20 %
Old house/flat 20 % 25 %


C) Loans for acquiring second house/flat:
• Additional interest @ 0.25 % p.a. over and above the applicable rates.
• Margin @ 25 %.

Home Improvement Loan

Rate of Interest: w.e.f 19.02.2007

IF HOME IMPROVEMENT LOAN (HIL) IS AVAILED ALONG WITH THE HOUSING LOAN OR AN EXISTING HOUSING LOAN IS OUTSTANDING IN OUR BANK THE RATE OF INTEREST (ROI) AS APPLICABLE TO HOUSING LOANS.

IF THE HOME IMPROVEMENT LOAN IS AVAILED INDEPENDENTLY THE APPLICABLE ROI IS PREVAILING BPLR


CanSite

w.e.f 01.07.2008
Loans repayable in 5 years 14.00 %

Loans repayable in above 5 years term (Max of 10 years) 14.00%


Canjewel

w.e.f 01.07.2008
13.50% p.a.


Cantech

w.e.f 01.07.2008
14.00% p.a.


Cantravel

w.e.f 01.07.2008
14.00% p.a.


Canvalue

w.e.f 01.07.2008
14.00% p.a.


CanCash

w.e.f 01.07.2008
13.75% p.a.
On daily reducing balance,
(Subject to change from time to time)


CanMobile (Car Loan / Two-Wheeler Loan)w.e.f 01.07.2008

a. Car loan - 11.5% p.a (fixed)

CanBudget Loan Scheme (Simple Personal Loan)w.e.f 01.07.2008

Floating Rate - 14.00% p.a.

CanPension w.e.f 01.07.2008

Floating Rate – 12.00% p.a.
A concessional rate for our Senior Citizens!


Teachers Loan scheme w.e.f 01.07.2008

Floating Rate -14.00% p.a.
A special rate available only for our Teaching fraternity!


Revised Fixed rate w.e.f 01.07.2008 Revised Floating rate w.e.f 01.07.2008

CANRENT

Can rent where the lessees are - Navaratna PSUs, AAA Cos, Fortune 500 Cos, MN Cs, Banks, Insurance Cos

Other than above 14.00* 14.50*
13.25 13.75

CAN MORTGAGE 15.50 15.00

Fixed rate loans to be reset every 3 years

Gold Loan/Swarna Loan Scheme w.e.f 01.07.2008 12.25%

Loans for Traders & Businessmen
:
Upto Rs.2 lakhs 13.25% p.a.
Above Rs.2 lacs including loans under priority sector 15.00% p.a.

Vidyasagar Loan for Students:

Rate of Interest : (Subject to changes as advised by Bank / RBI from time to time):
1. Student satisfying DRI norms
(irrespective of quantum of loan)
(DRI:annual income less than Rs 7200 p.a) 4.00%
2. Others
o Upto Rs.4 lakhs
o Above Rs.4 lakhs upto Rs. 7.50 lacs
o Above Rs. 7.50 lacs upto Rs. 15 lacs
o Above Rs.15.00 lacs upto Rs.20.00 lakhs

*For students secured admission in IIT/ IIM/ ISB

12.50%
13.50%
11.25%
11.25%
10.75%

* for loans granted w.e.f. 9.7.2005

NOTE :

1. 0.50 % concession in ROI for prompt servicing of interest during study period.
2. Reduction of 1 % for all courses in all slabs / category for girl students for loans granted from 1.12.2005 to 30.6.2008.

Canmahila Loan Scheme w.e.f 01.07.2008 14.00% p.a.

Doctor's Choice (Medical practitioners Loan Scheme) w.e.f 17.04.2007

Aggregate Limit WORKING CAPITAL TERM LOAN
Upto Rs 50000 11.00 11.50
>Rs. 50000 upto Rs. 2.00 lacs 11.50 12.00
> Rs. 2 lacs upto Rs.5 lacs 11.75 12.25
> Rs. 5 lacs upto Rs.10 lacs 12.75 13.25

IPO Financing: w.e.f 01.07.2008 13.25% p.a.

Loans under ESOP Scheme :w.e.f 01.07.2008 12.50% p.a.


Loans to assist employees to subscribe to shares of their own companies under reserve quota: w.e.f 01.07.2008 12.50% p.a.


Loans to individuals (Clean OD/DPN other than Teachers’ loan): 14.75% p.a.

BULC:

Up to 90 days 9.50% p.a.
Above 90 days Up to 180 days 10.50% p.a.


Loans to individuals against other approved securities:w.e.f 01.07.2008 14.00% p.a.

Loans against Debt oriented MFs: 13.25% p.a.

Corporate Loan scheme: 11.00% p.a.

STLR: 10.50% p.a.

KINDLY NOTE : Interest rates are liable to change without prior notice.