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How To Apply For a Canara Bank Personal Loan?

A personal is borrowed from the bank when there is a financial emergency. And the bank which provides you the best personal in India is Canara Bank. An individual can borrow money from Canara Bank if he/she has a monthly income of minimum INR 10,000. There is no need for collateral in Canara Bank personal loan that is why it’s popular among the customers. It is beneficial to those customers who are in an urgent need of funds for marriage, renovation, medical emergency, etc. read the article to know more about the personal loan.

Who can borrow Canara Bank Personal Loan?

According to the eligibility criteria for personal loan following type of candidate will be eligible to apply for Canara Bank Personal Loan.

  • Employees of reputed Public Sector Unions (PSUs) and Joint Stock Companies

  • Confirmed employees of Central or State Government 

  • Lecturers 

  • Asst. Professors

  • Professors of Colleges, Research Institutions and Universities

List of Documents Required During Canara Bank Personal Loan Processing

ID Proof:

  • Aadhaar Card

  • PAN Card

  • Voter ID Card

  • Driving Licence

  • Passport

Income Proof:

  • Salary Slip

  • Salary Certificate

  • Income Tax Return (ITR) Report

  • Last 3 Months Bank Statement 

  • Last 6 Months Passbook Statement

  • Form 16

Address Proof:

  • Utility Bill Receipts such as Electricity Bill, Telephone Bill, etc. 

How to Apply: - If you are eligible for Canara Bank Personal Loan, you can apply for the same by going to your nearest bank branch. Also, there is a convenience of online application for the customers. So, you can choose the one which is easy and quick for you. To borrow Canara Bank personal loan fill in the application form where you have to provide the following details-

  • Personal Details such as first name, middle name, last name, mobile number and email address

  • Passport size photograph

  • Details of Co-applicant or Guarantor (if any)

  • Type of Employment

  • Income proof

  • Current Assets & Liabilities

  • Purpose of Canara Bank personal loan

  • Loan Repayment Details

Canara Bank charges 0.5% processing fee on your loan amount which is debited from your disbursed loan amount. 

For What Purpose I Can Use Canara Bank Personal Loan?

Wedding: Borrow loan from Canara Bank to meet the financial needs for your wedding expenses. It is common that sometimes there is lack of funds at wedding arrangements. And it’s a function so people don’t want to borrow money from friends or relatives. So, at that time Canara Bank personal loan is a big help for you. The funds are disbursed to your bank account once it is approved by Canara Bank.

Medical Emergency: An accident or illness can occur to you anytime. And if you are not secured with health insurance it is difficult to meet the hospitalization expenses. In this time Canara Bank saved your life by giving you financial protection. 

Home Renovation: When you are doing the renovation work for your house it may cost you much of a lump sum fund. And it must be hard for you to get the funds. If you apply for Canara Bank personal loan it may help you get the budget of renovation under control without any financial liability as the loan can be paid in equated monthly installments. 

Travel: Pack your bags and book your tickets if your travel plan is pending for a long time. Because with Canara Bank personal loan it is easy for you to manage the vacation expenses in EMI.
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