2 Crore Canara Bank Home Loan

Looking to buy your dream home but struggling to find the right home loan for your needs? Check out Canara Bank's ₹2 crore home loan, offering competitive interest rates starting at 8.40% per annum and flexible EMIs. With a repayment tenure of up to 30 years, you can repay your home loan comfortably through budget-friendly monthly payments. Canara Bank's ₹2 crore home loan comes with added benefits, including the option for life insurance coverage for extra financial security. Stay worry-free and turn your dream of owning a home into reality with Canara Bank's transparent and simple loan process.

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Written By
Vimal Vijayan
Vimal Vijayan
Vimal Vijayan is a major in Philosophy with a background in Music, Artistry, Research, and Teaching. More often than not, he is as confused as a cow on an astroturf but oddly that's just his strategy for staying lazy. Also, he likes to play Chess. Fin.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Key Highlights – 2 Crore Canara Bank Home Loan

Refer to the table below to understand the key highlights of a 2 crore Canara Bank home loan:

Feature Details
Interest Rates 8.40% to 11.75% (Repo Linked Lending Rate: 9.25%). Mean rate: 9.35%.
Processing Charges 0.50% of loan amount (₹1,500 to ₹10,000 + GST). 
Repayment Tenure Up to 30 years or until age 75, whichever is earlier.
Eligibility Salaried (2+ years of service) or self-employed (3+ years in the profession); repay before age 75.
Prepayment Charges No penalty for floating-rate loans.
Special Offer 100% waiver on processing charges during the Retail Loan Festival.

2 Crore Canara Bank Home Loan EMI for 5 Years

Refer to the table below to know the Canara Bank’s housing loan EMI, availed at an interest rate of 9.50% p.a., for a tenure of 5 years:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 5 years ₹4,20,037 ₹52,02,234 ₹2,52,02,234

2 Crore Canara Bank Home Loan EMI for 10 Years

Details of Canara Bank’s home loan EMI at a 9.50% annual interest rate for a 10-year tenure are provided in the table below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 10 years ₹2,58,795 ₹1,10,55,414 ₹3,10,55,414

2 Crore Canara Bank Home Loan EMI for 15 Years

The following table mentions the EMI for a Canara Bank housing loan with a 9.50% p.a. interest rate over a repayment period of 15 years:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 15 years ₹2,08,845 ₹1,75,92,089 ₹3,75,92,089

2 Crore Canara Bank Home Loan EMI for 20 Years

Information regarding the EMI for a Canara Bank home loan at a 9.50% interest rate for a tenure of 20 years is presented below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 20 years ₹1,86,426 ₹2,47,42,297 ₹4,47,42,297

2 Crore Canara Bank Home Loan EMI for 25 Years

Find the EMI for Canara Bank’s housing loan, availed at a 9.50% annual interest rate, for a 25-year term in the table below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 25 years ₹1,74,739 ₹3,24,21,800 ₹5,24,21,800

2 Crore Canara Bank Home Loan EMI for 30 Years

Presented below is a table detailing the EMI for a Canara Bank home loan at a 9.50% p.a. interest rate over a 30-year duration:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹2 crore 9.50% p.a. 30 years ₹1,68,171 ₹4,05,41,503 ₹6,05,41,503

Fees & Charges of a 2 Crore Canara Bank Home Loan

Following are the fees & charges of a 2 crore Canara Bank home loan:

Fee/Charge Amount
Processing Fee 0.50% of the loan amount, with a minimum of ₹1,500 and a maximum of ₹10,000, plus applicable GST
Prepayment Charges No prepayment penalty for loans with floating interest rates
Documentation Charges ₹100 per lakh of the loan amount, subject to a minimum of ₹1,000 and a maximum of ₹25,000

2 Crore Canara Bank Home Loan – Documents Required

Make sure you have the following documents ready to avail a 2 crore Canara Bank home loan:

  • Application Form: Submit a duly filled and signed home loan application form with passport-sized photographs of the applicant and co-applicants.
  • Identity Proof: Provide identity proof such as a PAN Card, Passport, Voter ID, Driving License, or Aadhaar Card.
  • Address Proof: Submit address proof like recent utility bills (electricity or telephone), Passport, Aadhaar Card, Voter ID, or Driving License.
  • Age Proof: Provide age proof through documents like a Birth Certificate, PAN Card, Passport, or 10th Standard Marksheet.
  • Income Proof for Salaried Individuals: Submit the latest 3 months’ salary slips, Form 16, and bank statements showing salary credits for the last 6 months.
  • Income Proof for Self-Employed Individuals: Provide Income Tax Returns for the last 3 years, Balance Sheet and Profit & Loss Account, proof of business existence, and bank statements for the last 6 months.
  • Property Documents: Include Sale Deed, Agreement to Sell, or Allotment Letter; Approved Building Plan and Title Deeds; Encumbrance Certificate for the past 13 years; and latest property tax receipts.
  • NOC and Society Documents: Submit a No Objection Certificate (NOC) from the housing society or builder, if applicable.
  • Employment Proof: Salaried individuals should provide an employment confirmation or appointment letter, while self-employed individuals need to submit a business registration certificate or professional practice license.
  • Additional Requirements: Submit a processing fee cheque, authorisation for credit checks, and extra passport-sized photographs as required.

2 Crore Canara Bank Home Loan – Eligibility Criteria

Applicants have to meet the following eligibility criteria to obtain a 2 crore Canara Bank home loan successfully:

Eligibility Criteria Details
Age Minimum: 21 years; Maximum: 75 years (loan to be repaid before age 75).
Employment Type Salaried: 2+ years of service (6+ months in current organisation); Self-employed: 3+ years in business.
Income Salaried: Minimum ₹25,000 monthly; Self-employed: Minimum ₹3,00,000 annual income.
Credit Score A good credit score is preferred (specific threshold not specified).
Nationality Applicable for Resident Indians, NRIs, PIOs, and OCIs.

Frequently Asked Questions (FAQs)

What is the EMI for a ₹2 crore Lakh Home Loan for 20 years in Canara Bank?

Rs 1,86,426 is the applicable EMI for a 2 crore Canara Bank home loan if availed at an interest rate of 9.50% per annum.

Who is eligible for a ₹2 crore home loan in Canara Bank?

Individuals aged 21-75 with stable income (₹25,000/month for salaried or ₹3,00,000/year for self-employed) and a good credit score are eligible for a ₹2 crore home loan in Canara Bank.

What is the monthly interest rate of a ₹2 crore home loan in Canara Bank?

The monthly interest rate of a 2 crore Canara Bank home loan starts at 0.7%.

Urban Money