Canara Bank Housewife Personal Loan

Canara Bank’s Housewife Personal Loan is going to be a specialised financial product crafted to meet the unique needs of women who are homemakers. It provides an opportunity for housewives to access funds for various purposes, whether it be pursuing further education, starting a small business, meeting family obligations, or simply fulfilling personal aspirations.

Canara Bank Housewife Personal Loan – Highlights

Take a look at the highlights of the Canara Bank Personal Loan for Housewives:

1.	Higher loan quantum.
2.	Comparatively lower processing charges.
3.	Competitive Rate of Interest.
4.	No pre-payment penalty.
5.	Reducing Balance Interest Rate.
6.	Quick loan approval & disbursement.

Values cannot be added as the product is yet to be formally launched.

Canara Bank Housewife Personal Loan  – Comparison with Other Banks

As the product is novel and in the pipeline, a comparison with other similar products is expected to be available in due course.

Canara Bank Housewife Personal Loan – Fees & Charges

• Processing Fee: Vary from 0.50% to 2% of the loan amount plus GST.
• Goods and Services Tax (GST): A standard 18% GST applies to all loan-related services.
• Penal Interest: A 2% penalty is charged on the outstanding loan amount.
• Other Charges: Additional fees such as stamp duty, verification charges, and similar fees may be applicable.

Canara Bank Housewife Personal Loan – Documents Required

Necessary documents typically include:

• Identity proof
• Address proof
• Loan application with 2 passport-size photos of the applicant/co-applicant or guarantor
• KYC documents of applicant/co-applicant or guarantor
• Post-dated cheques or irrevocable debit mandate
• ITR, if any

Canara Bank Housewife Personal Loan – Eligibility Criteria

• The applicant must be a full-time or part-time homemaker.
• Age criteria may apply.
• The applicant’s spouse or family member must have a stable income source to back up the loan repayment.