Canara Bank Home Loan for Government Employees

If you are a government employee looking for a home loan, consider the Canara Bank Home Loan for Government Employees. This is a special home loan scheme designed exclusively for the employees of both central and state governments. The Canara Bank home loan for government employees offers several benefits, including interest rates, higher loan amounts, longer repayment tenure, and lower processing charges. However, there are certain things you might be aware of before initiating your loan application. To help you make a well-informed decision, Urban Money presents a detailed overview of this remarkable credit option. 

Canara Bank Home Loan for Government Employees – Highlights

Let’s examine the Canara Bank home loan interest rate for government employees and other key details: 

Canara Bank Home Loan for Government Employees – Fees and Charges

Here are the applicable fees and charges of a Canara Bank home loan for government employees:

Canara Bank Home Loan for Government Employees – Documents Required 

The Canara Bank home loan documents for government employees are as follows: 

• Completed loan application form.
• 2 passport-size photos of the applicant and co-applicants/guarantor.
• KYC documents of applicant and co-applicants/guarantor.
• Proof of residence such as utility bills, driver’s license, passport, etc.
• Proof of employment such as salary slip, employee ID, Form 16, IT Returns, etc.
• Bank statement of the salary account for the last 6 months.

Canara Bank Home Loan for Government Employees – Eligibility Criteria

The following are the eligibility criteria regarding the Canara Bank home loan for government employees:

• You must be an Indian citizen.
• You must be aged between 21 and 60 years.
• You must be a government employee, applicable to both central and state governments.
• You must have at least 2 years of work experience.
• Your net salary should be at least 40% of your gross income after deducting the proposed EMI.
• You must have a good credit score and repayment history.

Canara Bank Home Loan Schemes for Government Employees 

Here are the applicable credit schemes concerning the Canara Bank home loans for government employees:

• Canara Kuteer
• Canara Home Loan Plus
• Canara Site Loan
• Canara Bank Officers’ Association Staff Housing Loan