50 Lakh Home Loan Canara Bank

Home Loan By Amount
Home Loan By Profession
Home Loan By Scheme
Home Loan By Property

Have you been dreaming about fitting your dream home into your budget, especially within a 50 lakh budget? If so, you're in the right place. We're here to guide you through securing a home loan from Canara Bank, a bank trusted by millions of users. This discussion includes who's eligible, the amount of EMI and the steps to apply. Designed to assist everyone, this guide aims to make the journey to homeownership blossom. Ready to explore how you can turn your housing dream into reality? Let's begin.

Get in Touch for Home Loan Expert Advice

Connect with our Home Loan Advisor Now!

Personalized Home Loan solutions
Expert guidance
Application assistance
Credit score discussion
Home Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. 50 Lakh Home Loan Canara Bank Highlights

2. 50 Lakh Home Loan EMI For 10 Years Canara Bank

3. 50 Lakh Home Loan EMI For 20 Years Canara Bank

4. 50 Lakh Canara Bank home loan Fees and Charges

5. 50 Lakh Canara Bank home loan Documents Required

6. 50 Lakh Canara Bank home loan Eligibility Criteria

Written By

Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

50 Lakh Home Loan Canara Bank – Highlights

Features	Description
Who Are Eligible?	Resident Indians, NRIs, PIOs, and OCIs with stable income. Salaried individuals with a minimum of 2 years of service. Non-salaried individuals (business owners, professionals) must provide proof of income for the past 3 years.
Maximum Loan Amount	75 Lakhs
Loan Tenure	30 Years
Margin	Rs.30 Lakh – 10% Rs.30 to Rs.75 Lakh – 20% Rs.75 & above Lakh – 25%
Upfront Fee	0.50% of the loan amount (minimum Rs.1,500 + GST and maximum Rs.10,000 + GST)
Collateral/Security	Home that you have purchased through a loan

50 Lakh Home Loan EMI For 10 Years Canara Bank

Interest	Number of EMIs	Amount of one EMI	Total Interest Paid	Total payments made over the loan term
9.25%	180	₹64,016	₹26,81,963	₹76,81,963

50 Lakh Home Loan EMI For 20 Years Canara Bank

Interest	Number of EMIs	Amount of one EMI	Total Interest Paid	Total payments made over the loan term
9.25%	240	₹45,793	₹59,90,402	₹1,09,90,402

50 Lakh Canara Bank home loan – Fees and Charges

Processing Fee: 0.50% (Min ₹1,500 + GST, Max ₹10,000 + GST)
Prepayment Charges: None
Late Payment Penalty: Applicable as per bank’s policy
Legal & Technical Charges: As actual, for property verification
Insurance Premium: Optional for loan protection

50 Lakh Canara Bank home loan – Documents Required

Applicants must submit:

Identity and Residence Proof (Aadhaar, PAN, Passport)
Salaried: Last six months’ bank statements, three years’ IT Returns
Non-Salaried: Business proof, three years’ financial statements
Property-related documents
Employment or Business Stability Proof

50 Lakh Canara Bank home loan – Eligibility Criteria

To be eligible for a 50 Lakh home loan from Canara Bank, candidates must meet specific criteria:

The loan is accessible to Resident Indians, NRIs, PIOs, and OCIs.
Eligibility extends to both salaried and self-employed individuals.
- Salaried candidates need at least two years of employment, including at least six months with their current employer.
- Self-employed candidates, such as business owners, doctors, chartered accountants, and architects, must demonstrate consistent income over the last three years, supported by Income Tax Returns or Income Tax Assessment Orders.
Applicants must have a reliable income that adequately covers the monthly loan payments.
Borrowers should be under 60 to ensure the loan can be repaid before reaching 75 years. For primary borrowers aged 60 or above, a joint application with an earning spouse or legal heirs with a steady income is mandatory.
A positive credit score and history are crucial.

Frequently Asked Question (FAQs)

What is the EMI for a 50 Lakh Home Loan for 20 years in Canara Bank?

The EMI for a 50 Lakh home loan for 20 years at an annual interest rate of 9.25% in Canara Bank would be approximately ₹45,793.

Who is eligible for a 50 Lakh Home loan in Canara Bank?

Eligibility for a 50 Lakh home loan at Canara Bank includes resident Indians, NRIs, PIOs, and OCIs with stable incomes who meet the bank's credit criteria.

What is the monthly interest rate of a 50 Lakh home loan in Canara Bank?

The monthly interest rate for a 50 Lakh home loan in Canara Bank varies based on current rates and the borrower's profile.

Quick Links

Loan Offers By Canara Bank's

Home Loan by Nationalized Bank

Home Loan Calculators

Canara Bank Calculators