Canara Bank Personal Loan of 5000

Canara Bank offers personal loans up to Rs. 5,000 with flexible repayment options ranging from 12 to 48 months. The loan can be availed for various personal expenses such as shopping, travel, paying rent or even medical emergencies. The interest rates for a Canara Bank personal loan of 5000 are competitive, and the processing is hassle-free with minimal documentation.

Personal Loan Options for 5000 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 5000 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 – Specially curated personal loans for retired employees of Canara Bank.
• Canara Cash–Secured personal loans issued against collateral of Shares, Debentures, Bonds and Units.

Features of Canara Bank 5000 Personal Loan 

Canara Bank, one of the leading financial institutions in India, offers 5000 personal loans with instant approval. Here are some of the features of Canara Bank’s personal loan of 5000, which make it an attractive choice.

• Options of fixed or variable EMI.
• No processing charges on Canara Budget 5000 or greater personal loan EMI plan.
• Renewal is available after 2 years in Overdraft.
• Maximum up to 84 months repayment tenure.

Can I get 5000 personal loan instantly from Canara Bank? 

It is possible to get an instant 5000 loan from Canara Bankwith a pre-approved offer or a high credit score of above 750.

What is the EMI for 5000 loan? 

Here are a few projections of different EMI plans for a 5000 loan at an interest rate of 9.25%.

Canara Bank personal loan of 5000EMI planwith a repayment tenure of 6months.

 

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	5000	856	817	39	4183
2	4183	856	824	32	3359
3	3359	856	830	26	2529
4	2529	856	837	19	1692
5	1692	856	843	13	849
6	849	856	849	7	0

Canara Bank personal loan of 5000 EMI plan with a repayment tenure of 1 year.

 

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	5000	438	399	39	4601
2	4601	438	403	35	4198
3	4198	438	406	32	3793
4	3793	438	409	29	3384
5	3384	438	412	26	2973
6	2973	438	415	23	2558
7	2558	438	418	20	2139
8	2139	438	422	16	1718
9	1718	438	425	13	1294
10	1294	438	428	10	866
11	866	438	431	7	434
12	434	438	435	3	0

Eligibility Criteria 5000 loan in Canara Bank

Here are the important criteria for 5000 personal loan eligibility of Canara Bank.

• Salaried applicantsmust 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 5000 Canara Bank loan

Here is a list of the necessary 5000 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 3years.
• Delivery letter to DPN (Only for Canara Pension Personal Loan)

How to Apply for 5000 Personal loan From Urban Money?

Applying for a Canara Bank personal loan of 5000 from Urban Money is easy. 

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