Canara Home Loan Super Gain

The Canara Home Loan Super Gain is a comprehensive home loan scheme. Eligible applicants can use this loan to purchase and build houses or flats and repair and renovate new or second-hand residential properties. Notably, the Canara Home Loan Super Gain scheme has no upper limit on the loan amount. This ensures that the applicants can secure the necessary funds regardless of the amount. The bank offers more comitative interest rates, flexible repayment plans, and quick fund disbursement, making it a more borrower-friendly credit option. This all-in-one guide details the applicable interest rates, eligibility criteria, required documents, and more. Let’s scroll down.

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Written By
Thejus KS
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
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.

Canara Home Loan Super Gain – Highlights

Below are the key parameters of a Canara Home Loan Super Gain:

Minimum Loan Amount 20 Lakh
Maximum Loan Amount  No upper limit
Loan to Value (LTV) Ratio 75 – 90% of the property value
Loan Tenure 30 years

Canara Home Loan Super Gain – Features and Benefits

Let’s examine the applicable features and benefits of a Canara Housing Loan Super Gain:

  • Highly competitive interest rates
  • No upper limit on the loan amount
  • ‘Reducing balance’ interest rate
  • No Prepayment penalty
  • Lower Processing fees

Canara Home Loan Super Gain Interest Rates

Let’s examine the applicable interest rates of a Canara Home Loan Super Gain scheme:

Minimum Rate of Interest  8.40% p.a.
Maximum Rate of Interest 11.75% p.a.
Mean Rate of Interest  9.41% p.a.

Canara Home Loan Super Gain Fees and Charges

Let’s examine the applicable fees and charges for a Canara Housing Loan Super Gain:

Fee/Charge Amount
Processing fee 0.5% of the loan amount
Prepayment Charges Nil
Penal interest or Late Payment penalty  Up to 2% p.a.
Documentation Charges ₹100 per lakh
Legal/Valuation Charges  At actual 

Canara Home Loan Super Gain – Eligibility Criteria

Let’s examine the applicable eligibility criteria for a Canara Home Loan Super Gain:

Age Limit 21 – 60 years old
Employment Types Applicable to both salaried and self-employed individuals
Income Criteria Sufficient to cover the loan EMI
Credit Score Preferably 700 or above
Residential Status Both Indian residents and non-residents of India.

Canara Home Loan Super Gain – Documents Required

Let’s examine the applicable documentation for a Canara Housing Loan Super Gain:

Identity Proof PAN Card, Driver’s License, Voter ID, Passport, Aadhar Card, etc.
Address Proof Aadhar Card, Ration Card, Electricity Bill, Telephone Bill, etc.
Income Proof salary slips, Form 16, and bank statements of the salary account, or business proof. 
Property Proof Agreement for sale, sale deed, authorised blueprint of the planned building, etc

Canara Home Loan Super Gain – EMI Calculator

Here is the step-by-step procedure to estimate the EMI for a Canara Home Loan Super Gain:

  • Go to the Urban Money website.
  • Click on the “Loan” tab at the home screen’s horizontal menu bar.
  • Select the “Home Loan” option and tap “Home Loan Calculator.”
  • You will be redirected to a new page displaying the EMI Calculator.
  • Enter the principal loan amount, tenure, and interest rate.
  • The calculator will instantly display the monthly EMI you must pay.

Bank Wise Home Loan Interest Rate

Urban Money