Canara Bank Personal Loan of 7 Lakh

If you are in need of financial assistance, you can rely on Canara Bank to provide you with the necessary support. Canara Bank offers loans with flexible repayment options that range from 12 to 84 months, ensuring that you can choose an option that best suits your financial needs.For an instant loan of Rs. 7 Lakh, the interest rate starts at just 10.95% per annum. What’s more, Canara Bank provides a hassle-free online loan processing option that ensures speedy disbursal of funds. To apply for a Canara Bank 7 Lakh personal loan, you can visit your nearest branch or apply online through the bank’s website.

Personal Loan Options for 7 Lakh in Canara Bank

Canara Bank offers several types of personal loans.

• Canara Budget Prime and Canara Budget Delight – Instant 7 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 7 Lakh Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 7 Lakh, which make it an attractive choice.

• Options of fixed or variable EMI.
• No processing charges on Canara Budget 7 Lakh or greater personal loan EMI plan.
• High quantum loans starting from 7 Lakh personal loans with instant approval
• Maximum up to 84 months in terms of the repayment tenure.

Can I get 7 Lakh personal loan instantly from Canara Bank? 

It is possible to get an instant 7 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 7 Lakh loan? 

Here are a few projections of different EMI plans for a 7 Lakh loan at an interest rate of 10.95%.

Canara Bank personal loan of 7 Lakh EMI plan with a repayment tenure of 5 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	700000	15202	8814	6388	691185
12	598491	15202	9741	5461	588750
24	475550	15202	10863	4339	464687
36	338450	15202	12114	3088	326336
48	185561	15202	13509	1693	172052
60	15065	15202	15065	137	0

Canara Bank personal loan of 7 Lakh EMI plan with a repayment tenure of 10 years.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	700000	9623	3235	6388	696765
12	662744	9623	3575	6048	659169
24	617622	9623	3987	5636	613635
36	567303	9623	4446	5177	562857
48	511190	9623	4958	4665	506232
60	448614	9623	5529	4094	443085
72	378832	9623	6166	3457	372666
84	301013	9623	6876	2747	294137
96	214232	9623	7668	1955	206564
108	117456	9623	8551	1072	108905
120	9536	9623	9536	87	0

Eligibility Criteria 7 Lakh loan in Canara Bank

Here are the important criteria for 7 Lakh personal loan eligibility of Canara Bank.

• Salaried applicants should have 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 7 Lakh Canara Bank Loan

Here is a list of the necessary 7 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 7 Lakh Personal loan From Urban Money? 

Applying for a Canara Bank personal loan of 7 Lakh from Urban Money is easy. 

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