It is often that how much we earn , we fail in meeting our day to day expenses which is too after lock-down has gone down to a great extent. We have to meet daily expenses like school fees , to buy eatables , clothes , house rent , electricity bill or water bill etc . Sometimes , you might make some savings out of what you receive and you plan to use that savings till next month but that is not so , you can only save some but cannot wait for the time with the same savings to manage . Even if you ask some of your friends or relatives for a loan you would get a reply that I dont have money right now or he might not talk to you giving some reason. But these are not only the solutions to get a loan , you have to hard work and look for some extra sources to get some loan .
In this post , we have tried to explain you about a bank which offers you loan at very subsidised rates and you might also not have to deposit or make some offer to the bank as a collateral . The bank we are talking about is Canaraa bank .In this post you will also get to know clear procedure about how you can go with taking a Canara bank loan , where you can apply for canara bank personal loan , or canara bank business loan or formalities for canara bank loan or application form for personal loan or how much time it would take to secure a canara bank loan .
How much you receive in Canara Bank Loan ?
You must be clear in your requirements and estimations that how much loan you require from Canara bank , while applying for Canara bank loan , you have to specify your fund requirement to the bank that you need this much amount of loan from the bank and their is also some difference which the banks keep within the applied or disbursement of the amount to the applicant . If the application amount is suppose Rs 5 lakh then the Canara bank shall issue loan or Rs 4.8 lakh or near by some amount , which means the bank only distributes some amount less than the amount applied by the applicant . In this situation , you have to apply Canara bank loan with an amount higher than your requirement to receive an amount closer to your requirement . The minimum amount of loan available to you ranges from Rs 5 lakh to Rs 50 lakh depending on your requirement and the documents and references provided.
Duration for Canara Bank Loan
It depends on your loan amount and the time period within which you would be comfortable to pay your Canara bank loan back. You should be aware in your bank documents and your disbursal policy that bank will give you after sanctioning your loan that for how much period you would be paying your Canara bank loan back and what additional charges you have to pay back to the bank in case you fail to pay loan or ask for more duration for loan extension.If you consider Canara bank loan you would get a loan for a period of 6 months minimum up to a maximum of 84 months .
Benefits of taking Canara Bank Loan
You cannot ignore such a decent loan offer from Canara bank because , prior to being Canara bank it was known with the name of Sydicate bank which run to almost a decade giving its services like credit card services , loan services , cc limit etc . With applying Canara bank loan you will receive these following benefits along with it :
- The maximum limit for a loan has been prescribed upto Rs 10 lakh where as per your requirements and submissions you can be granted a Canara bank loan of Rs 50 lakh also .
- You can avail the loan for a maximum period of about 84 months within which you shall be granted the loan and can repay the loan asap .
- You can avail a Canara bank loan online also but all formalities shall be taken on offline basis , only the application of loan can be filled online .
- You get decent subsidy in interest rates .
- You can apply a Canara bank loan from anywhere within the country there is no such boundation of location for application of loan.
- You have to fill normal formalities to secure a loan from Canara Bank.
How to Apply Canara Bank Loan ?
Filing a Canara bank loan application is completely an online process, as said above you only have to complete the basic bank formalities by selecting a nearby bank branch by submitting the required documents to the respective person in the bank. To file a Canara bank loan application you have to :
- Go to the official website of Canara Bank and Click on Apply Loan .
- When you click on the Loan button , check the type of loan you want to take .You can either select personal loan , home loan , business loan. vehicle loan etc
- You have enter your requirements and the contact details , where you want to be get contacted from the bank.
- If you get an option to upload documents like last 6 months bank statement , your KYC Documents including Adhaar details , PAN Details , Passport size photograph etc.
Hope , you liked this post interesting and informative . If you have queries related to applying Canara bank loan taking loan from any other bank , you can place your feedback comments down in the comment section .