Canara Bank Personal Loan of 4 Lakh

Canara Bank provides instant loans and high-quantum loans with flexible repayment options ranging from 12 to 84 months. For an instant loan of Rs. 4 Lakh, the interest rate starts at just 10.95% per annum. The bank also offers easy, hassle-free online loan processing and speedy loan disbursal. To apply for a Canara Bank 4 Lakh personal loan, individuals can visit their nearest branch or apply online through the bank’s website.

Personal Loan Options for 4 Lakh in Canara Bank

Canara Bank offers several types of personal loans.

• Canara Budget Prime and Canara Budget Delight – Instant 4 Lakh loan from Canara Bank for 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 Bank 4 Lakh Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 4 Lakh, which make it an attractive choice.

• Options of fixed or variable EMI.
• No processing charges on Canara Budget 4 Lakh or greater personal loan EMI plan.
• High-amount loans starting from 4 Lakh personal loans with instant approval
• Maximum up to 84 months repayment tenure.

Can I get 4 Lakh personal loan instantly from Canara Bank? 

It is possible to get an instant 4 Lakh loan from Canara Bank with a pre-approved offer.Canara Bank usually approves loan requests within 2-7 working days. Customers who present all required documents upon loan application or have a high credit score above 750 may receive instant approval.

What is the EMI for 4 Lakh loan? 

Here are a few projections of different EMI plans for a 4 Lakh loan at an interest rate of 10.95%.

Canara Bank personal loan of 4 Lakh EMI plan with a repayment tenure of 5 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	400000	8687	5037	3650	394963
12	341995	8687	5566	3121	336428
24	271743	8687	6207	2480	265535
36	193400	8687	6922	1765	186478
48	106035	8687	7719	968	98316
60	8608	8687	8608	79	0

Canara Bank personal loan of 4 Lakh EMI plan with a repayment tenure of 2 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	400000	5499	1849	3650	398151
12	378711	5499	2043	3456	376668
24	352927	5499	2279	3220	350649
36	324173	5499	2541	2958	321633
48	292109	5499	2834	2665	289275
60	256351	5499	3160	2339	253192
72	216475	5499	3524	1975	212952
84	172007	5499	3929	1570	168078
96	122418	5499	4382	1117	118036
108	67118	5499	4887	612	62232
120	5449	5499	5449	50	0

Eligibility Criteria 4 Lakh loan in Canara Bank

Here are the important criteria for 4 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 4 Lakh Canara Bank Loan

Here is a list of the necessary 4 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 4 Lakh Personal loan From Urban Money?

Applying for a Canara Bank personal loan of 4 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.