Canara Bank Loan Against Property in Purnea, Bihar

Avyud Finance offers Loan Against Property from Canara Bank under the name Canara Mortgage. Customers can avail of the loan for non-business purposes only such as for meeting unexpected expenses, urgent personal and medical needs, and so on. The Avyud Finance facilitates Loan Against Property Services is meant to meet business or personal financial requirements and for any capital market, real estate, and speculative purposes.

EMI Calculator

Loan Amount

₹

500000

No. of Months

months

Rate of Interest

Monthly EMI

₹

₹ 32,124.56

Total Interest

₹

10,622.78

Principal Amount

₹

500000

Payable Amount

₹

160,622.78

Pay No.	Begining Balance	EMI	Principal	Interest	Ending Balance
1	150000.00	32124.56	28637.06	3487.50	121362.94
2	121362.94	32124.56	29302.87	2821.69	92060.07
3	92060.07	32124.56	29984.16	2140.40	62075.91
4	62075.91	32124.56	30681.30	1443.26	31394.61
5	31394.61	32124.56	31394.64	729.92	-0.03

Canara Bank Loan Against Property Important Information

To the individuals for non-business purpose only, for meeting any unforeseen expenses, urgent personal and medical needs etc

Upto 50% on the value of the property offered as security as per the valuation report of the banks panel-valuer with a maximum Rs. 10.00 Crores, whichever is less.

Personal Guarantee from person / s of adequate net worth acceptable to the Bank.

Equitable Mortgage of property acceptable to the Bank having clear marketable title.

Value of the property should be 200% of the loan amount.

Eligibility Criteria for Canara Bank Loan Against Property

Individual customers having satisfactory dealings with our bank

New customers well introduced and credit worthy with satisfactory bankers / market reports on them.

NRI customers, with their resident close relatives as co-borrowers, can avail the loan.

Documents Required for Canara Bank Loan Against Property

Stipulated Loan Application with passport size photographs - 2 copies each

Copy of lease deed

Income proof of the applicant and guarantor Income Tax Assessment Order / IT Returns

Title deeds of the property / EC, latest tax paid receipt / Legal Scrutiny Report
Approved plan of building

Certificate of balance if finance is availed against property from any other source

Annual Financial Statements for the past 2 years (in case of persons other than salaried individuals

Fees & Charges for Canara Bank Loan Against Property

0.50% of loan amount with a minimum of Rs.5000/-.

Rs.100/- Per Lac or part thereof with minimum of Rs.1000/- and Maximum Rs. 25000/-

FAQ for Canara Bank Loan Against Property

What are the purposes for which loan is granted?

Loan under this scheme is granted for non- business purpose only and for meeting any unforeseen expenses, urgent personal and medical needs etc. and not for speculative purposes.

Who is eligible under this scheme?

Only Individuals are eligible. NRI customers, with resident close relatives of NRI customer as co-borrowers, are also eligible.

What is the quantum of loan?

Loan quantum is 50% of the value of the property proposed to be offered as security as per the valuation report given by the Panel valuer of the Bank with a maximum of Rs. 10.00 Crores.

What is the rate of interest?

It is Base Rate of Bank + 2.50% presently 12.50.p.a. (floating).

What is the repayment period?

84 months, very selectively permitted upto 120 months.

Note:This content is taken from Canara Bank website

Purpose for Loan Against Property

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