Canara Bank Personal Loan of 15,000

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Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
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Piyush Bothra
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.

Canara Bank offers personal loans up to Rs. 15,000 with flexible repayment options ranging from 12 to 78 months. The loan can be availed for various personal expenses and even topping up existing home loans. The interest rates for a Canara Bank personal loan of 15000 are competitive, and the processing is hassle-free with a streamlined application process.

Personal Loan Options for 15000 in Canara Bank 

Canara Bank offers six types of personal loans.

  • Canara Home Loan Plus – Personal loan option to offset existing home loan interests.
  • Canara Budget (Prime and Delight)Instant 15000 loan from Canara Bank for personal needs.
  • Canara Pension – Personal loan option for pensioners of government and corporate undertakings.
  • Teachers Loan – Special personal option for teaching and non-teaching staff with Canara Bank salary account.
  • Canara Pension for Canara Ex-Employees –Personal loans with special terms for retired employees of Canara Bank.
  • Canara Cash – Secured personal loans issued against collateral of Shares, Debentures, Bonds and Units.

Features of Canara Bank 15000 Personal Loan 

Canara Bank, one of the leading financial institutions in India, offers 15000 personal loans with instant approval. Here are some of the features of Canara Bank’s personal loan of 15000, which make it an attractive choice.

  • Options of fixed or variable EMI.
  • No processing charges on Canara Budget 15000 or greater personal loan EMI plan.
  • Renewal is available after 2 years in Overdraft.
  • Maximum up to 84 months repayment tenure.

Can I get 15000 personal loan instantly from Canara Bank? 

It is possible to get an instant 15000 loan from Canara Bank with a pre-approved offer or a high credit score of above 700.

What is the EMI for 15000 loan? 

Here are a few projections of different EMI plans for a 15000 loan at an interest rate of 9.25%.

Canara Bank personal loan of 15000 EMI plan with a repayment tenure of 1 year.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 15000 1314 1198 116 13802
2 13802 1314 1208 106 12595
3 12595 1314 1217 97 11379
4 11379 1314 1226 88 10153
5 10153 1314 1236 78 8918
6 8918 1314 1245 69 7673
7 7673 1314 1255 59 6418
8 6418 1314 1265 49 5154
9 5154 1314 1274 40 3881
10 3881 1314 1284 30 2597
11 2597 1314 1294 20 1303
12 1303 1314 1304 10 0

Canara Bank personal loan of 15000 EMI plan with a repayment tenure of 2 year.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 15000 687 571 116 14429
12 8467 687 622 65 7845
24 682 687 682 5 0

Eligibility Criteria 15000 loan in Canara Bank 

Here are the important criteria for 15000 personal loan eligibility of Canara Bank.

  • Salaried applicants must have proven 1 year of work experience in their current company.
  • Government/Corporate employee.
  • Applicant must have a co-signer for co-obligation.

Documents Required 15000 Canara Bank loan 

Here is a list of the necessary 15000 personal loan documents by Canara Bank.

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

How to Apply for 15000 Personal loan From urban money?

Applying for a Canara Bank personal loan of 15000 from Urban Money is easy. 

  • Head to the personal loans section on Urban Money website. 
  • 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.

Frequently Asked Question (FAQs)

How long does it take for Canara Bank to approve a 15000 personal loan?

Canara Bank takes 2-7 working days to approve personal loan requests.

What are the interest rate ranges for Canara Bank 15000 personal loans?

Canara Bank’s 15000 personal loan EMI plans have a starting interest rate of 9.25%. The final interest rate may depend on the applicant’s credit score.

Can I apply for a 15000 Canara Bank personal loan online?

It is possible to apply for a Canara Bank personal loan online with a salary account or savings account.

Are there any hidden charges in Canara Bank's personal loan agreements?

Canara Bank has no hidden charges on personal loan agreements.

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