Canara Bank Personal Loan of 1 Lakh

Canara Bank provides high-quantum loans with flexible repayment options of 1-7 years. For a loan of Rs. 1 lakh, the interest rate starts from 10.95% per annum. The bank also offers quick and hassle-free loan processing and disbursal. To apply for a Canara Bank 1 Lakh personal loan, individuals can visit their nearest branch or apply online through the bank’s website.

Personal Loan Options for 1 Lakh in Canara Bank

Canara Bank offers several types of personal loans.

• Canara Budget Prime and Canara Budget Delight – Instant 1 Lakh loan from Canara Bankfor personal needs.
• Canara Pension –Personal loan option for pensioners of government and corporate undertakings.
• Teachers Loan – Exclusive loan offers forteaching and non-teaching staff.
• Canara Cash –Secured personal loans issued against collateral of Shares, Debentures, Bonds and Units.

Features of Canara Bank1 Lakh Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 1 Lakh, which make it an attractive choice.

• Options of fixed or variable EMI.
• No processing charges on Canara Budget 1 Lakh or greater personal loan EMI plan.
• High quantum loans starting from 1 Lakh personal loans with instant approval
• Maximum up to 84 months repayment tenure.

Can I get 1 Lakh personal loan instantly from Canara Bank? 

It is possible to get an instant 1 Lakh loan from Canara Bank with a pre-approved offer. Canara Bank usually approves loan requests within 2-7 working days. Customers who submit all required documents upon loan application request may receive instant approval.

What is the EMI for 1 Lakh loan? 

Here are a few projections of different EMI plans for a 1 Lakh loan at an interest rate of 10.95%.

Canara Bank personal loan of 1 Lakh EMI plan with a repayment tenure of 5 years.

Canara Bank personal loan of 1 Lakh EMI plan with a repayment tenure of 10 years.

Eligibility Criteria 1 Lakh loan in Canara Bank

Here are the important criteria for 1 Lakh personal loan eligibility of Canara Bank.

• Salaried applicants must have proven 1 year of work experience in their current company.
• Government/Corporate employee.
• Self-employed applicants with a high credit score.
• Applicant must have a co-signer for co-obligation.
• Applicants with a Canara Bank salary account.

Documents Required 1 Lakh Canara Bank Loan

Here is a list of the necessary1 Lakh personal loan documents by Canara Bank.

• Identity and address proof (passport/PAN card /Voter ID card/driving license/Aadhaar)
• Last 6 months’ salary slip for salaried.
• Form-16 for the last 3 years.
• Income Tax Returns for the last 3years.
• Delivery letter to DPN (Only for Canara Pension Personal Loan)

How to Apply for 1 Lakh Personal loan From urban money?

Applying for a Canara Bank personal loan of 1 Lakh from Urban Money is easy. 

• Head to the personal loans section on Urban Money. 
• Select Canara Bank to enter query details.
• Enter the Loan Amount, Monthly Net Salary, Estimated EMIs and Tenure
• Send your request and wait for approval.