90 Lakh Home Loan Canara Bank

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A 90 Lakh home loan from Canara Bank offers a substantial financial solution for those looking to purchase, construct, or renovate their dream home. With its competitive interest rates and flexible repayment options, Canara Bank ensures borrowers can secure the necessary funds without compromising their financial stability. The bank’s home loan product is designed to cater to various housing needs. Eligible applicants benefit from a straightforward process, making it an attractive option for potential homeowners.

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Table of Content

1. 90 Lakh Home Loan Canara Bank Highlights

2. 90 Lakh Home Loan EMI for 10 years Canara Bank

3. 90 Lakh Home Loan EMI for 20 years Canara Bank

4. 90 Lakh Canara Bank home loan Fees and Charges

5. 90 Lakh Canara Bank home loan Documents Required

6. 90 Lakh Canara Bank home loan Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

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.

90 Lakh Home Loan Canara Bank – Highlights

Features	Description
Who Are Eligible?	Resident/Non-resident Indians with stable income. Salaried and non-salaried individuals.
Maximum Loan Amount	There is no upper limit, subject to proof of income.
Loan Tenure	The borrower must be up to 30 or 75 years of age, whichever is earlier.
Margin	10% for loans up to Rs.30 Lakh; 20% for loans above Rs.30 Lakh & up to Rs.90 Lakh; 25% above Rs.90 Lakh and for old houses (> ten years).
Upfront Fee	0.50% of the loan amount (Min Rs.1,500 to Max Rs.10,000 GST). Special waivers during promotional periods
Collateral/Security	Typically, it involves financing the property’s mortgage.

90 Lakh Home Loan EMI for 10 years Canara Bank

Loan Tenure	Monthly EMI (Approx.)	Overall Interest Paid	Total No. of EMIs
10 years	₹1,06,832	₹38,19,791	120

90 Lakh Home Loan EMI for 20 years Canara Bank

Loan Tenure	Monthly EMI (Approx.)	Overall Interest Paid	Total No. of EMIs
20 years	₹72,503	₹84,00,813	240

90 Lakh Canara Bank home loan – Fees and Charges

Fee Type	Amount
Processing Fee	0.50% of the loan amount (Min Rs.1,500 to Max Rs.10,000 +GST)
Prepayment Charges	Nil for floating rate loans
Late Payment Fee	As per the bank’s terms
Legal/Technical Valuation Fee	At actuals, based on the property and loan amount
Documentation Charges	At actuals

90 Lakh Canara Bank home loan – Documents Required

For an Rs. 90 Lakh Canara Bank home loan, the required documents include

KYC (ID and address proof)
Income proof (salary slips for salaried, ITR for self-employed)
Bank statements
Property documents (title deeds, approved plan)
Proof of business for non-salaried applicants.

90 Lakh Canara Bank home loan – Eligibility Criteria

Eligibility for a Rs. 90 Lakh Canara Bank home loan requires

The applicant must be a resident or non-resident Indian with a stable income.
Salaried individuals must have up to 72 times their monthly gross salary.
Non-salaried individuals need up to 6 times their annual gross income.
Age and creditworthiness also influence eligibility.

Frequently Asked Question (FAQs)

What is the EMI for a 90 Lakh Home Loan for 20 years in Canara Bank?

The EMI for a Rs. 90 Lakh home loan for 20 years in Canara Bank, assuming an interest rate of 7.5%, is approximately Rs. per month.

Who is eligible for a 90 Lakh Home loan in Canara Bank?

Eligibility for a Rs. 90 Lakh home loan in Canara Bank depends on the borrower's income. Salaried individuals need up to 72 times their monthly gross salary, and non-salaried individuals need up to 6 times their annual gross income.

What is the monthly interest rate of 90 Lakh home loan in Canara Bank?

The monthly interest rate for an Rs. 90 Lakh home loan in Canara Bank, with an interest rate of 7.5%, is approximately 0.625%.

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