Canara Bank Personal Loan of 6 Lakh

If you need financial assistance, Canara Bank has got you covered. You can apply for loans with flexible repayment options ranging from 12 to 84 months. For an instant loan of Rs. 6 Lakh, the interest rate starts at just 10.95% per annum. Plus, the bank offers easy, hassle-free online loan processing and speedy disbursal. To apply for a Canara Bank 6 Lakh personal loan, you can visit your nearest branch or apply online through the bank’s website.

Personal Loan Options for 6 Lakh in Canara Bank

Canara Bank offers several types of personal loans.

• Canara Budget Prime and Canara Budget Delight – Instant 6 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 6 Lakh Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 6 Lakh, which make it an attractive choice.

• Options of fixed or variable EMI.
• No processing charges on Canara Budget 6 Lakh or greater personal loan EMI plan.
• High quantum loans starting from 6 Lakh personal loans with instant approval
• Maximum up to 84 months repayment tenure.

Can I get 6 Lakh personal loan instantly from Canara Bank? 

It is possible to get an instant 6 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 6 Lakh loan? 

Here are a few projections of different EMI plans for a 6 Lakh loan at an interest rate of 10.95%.

Canara Bank personal loan of 6 Lakh EMI plan with a repayment tenure of 5 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	600000	13030	7555	5475	592445
12	512992	13030	8349	4681	504642
24	407614	13030	9311	3719	398303
36	290100	13030	10383	2647	279717
48	159052	13030	11579	1451	147473
60	12913	13030	12912	118	0

Canara Bank personal loan of 6 Lakh EMI plan with a repayment tenure of 10 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	600000	8248	2773	5475	597227
12	568066	8248	3064	5184	565002
24	529390	8248	3417	4831	525973
36	486260	8248	3811	4437	482449
48	438163	8248	4250	3998	433913
60	384526	8248	4739	3509	379787
72	324713	8248	5285	2963	319428
84	258011	8248	5894	2354	252117
96	183627	8248	6572	1676	177055
108	100677	8248	7329	919	93347
120	8173	8248	8173	75	0

Eligibility Criteria 6 Lakh loan in Canara Bank

Here are the important criteria for 6 Lakh personal loan eligibility of Canara Bank.

• Salaried applicants should have a 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 6 Lakh Canara Bank Loan

Here is a list of the necessary 6 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 6 Lakh Personal loan From Urban Money? 

Applying for a Canara Bank personal loan of 6 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.