🇮🇳 India

Canara Bank Last updated2026-05-28

Canara Bank EMI Calculator 2026 rates.

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Quick answer

Canara Bank home loan rate starts at 8.4% (typical 8.55%) as of 2026. A ₹50 lakh loan at 8.55% over 20 years = an EMI of approximately ₹43,550/month.

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EMI Calculator

Live

Loan Amount

₹

₹25.00 L

Interest Rate (p.a.)

Tenure (years)

Monthly EMI

₹21,696

/month

Total Interest

₹27.07 L

52% of total

Total Payable

₹52.07 L

over 20 years

Principal vs Interest Split

48% principal

52% interest

✨ Live · For home, personal, auto, education loans · Excludes processing fees

📊 Current rates

Canara Bank loan rates (May 2026)

🏠 Home Loan

8.4–10.3%

typical: 8.55% p.a.

💵 Personal Loan

10.65–16.1%

typical: 12.25% p.a.

🚗 Car Loan

8.75–10.7%

typical: 9.05% p.a.

💳 Processing Fee

0.50% of loan amount (max ₹10,000 for home loans). Often waived in festive promotions.

🔁 Prepayment

Zero on floating-rate retail home loans. 1% on fixed-rate.

About Canara Bank

Why choose Canara Bank?

Canara Bank, headquartered in Bengaluru, is one of India's largest PSBs after the 2020 merger with Syndicate Bank. It now operates around 9,800 branches with strong southern India dominance. Home loan book exceeds ₹90,000 crore, with disproportionate share in Karnataka, Kerala, and Tamil Nadu.

🎯 Unique angle

Canara is the cheapest mainstream bank for South India real estate purchases due to processing-fee waivers and on-the-ground valuation networks in tier-2 South Indian cities. Repo-linked rates are among the lowest in PSB segment.

Product highlights

✓ Canara Housing Loan: 8.40-9.40% repo-linked floating rate
✓ Canara Special Housing for Women: 5 bps additional rate concession
✓ Canara Home Loan to Senior Citizens (up to age 75 at maturity)
✓ PMAY-CLSS subsidy direct credit
✓ Canara Site Loan for plot-only purchases (separate product from construction)

❓ Canara Bank FAQ

Common questions.

Is Canara Bank cheaper than SBI in South India?

Often yes — Canara prices its repo-linked spread at 2.85-3.0% (vs SBI's 2.65-2.90%), but its processing fee structure and faster turnaround for South Indian properties usually nets out cheaper total cost of ownership. For Karnataka and Kerala specifically, Canara is the price leader.

Can I get a Canara plot-only loan?

Yes. Canara Site Loan finances pure plot purchases (no construction yet) up to ₹2 crore with 75% LTV and 15-year tenor. You can convert it to a regular home loan within 3 years of plot purchase if you build, often at preferential rates.

What's the maximum age for Canara home loans?

Loan maturity is capped at 70 years for salaried borrowers and 75 years for pensioners or self-employed with stable income proof. So a 60-year-old salaried applicant can borrow for a maximum 10-year term. Canara is more senior-friendly than HDFC/Kotak on this dimension.

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