Canara Bank of India Personal Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]

By | November 4, 2023


About Canara Bank : Canara Bank has become a bigger banking entity after it took over the banking operations of Syndicate Bank. It has had a long history of mergers and acquisitions of other banks.

The bank even takes the responsibility of sponsoring four other regional banks: Karnataka Vikas Grameena Bank, Andhra Pragathi Grameena Bank, Karnataka Gramin Bank, and Kerala Gramin Bank.

The bank deals in all these services that range from Investment banking, Mortgages, Private banking, Retail banking, Asset management, Commercial banking, Pensions, and Credit Cards.

Headquarter: Canara Bank has its headquarters in Bangalore, the capital of Karnataka, India. Canara Bank Hindu Permanent Fund and Amembal Subba Rao Pai established this bank in Mangalore on July 1, 1906, 116 years ago. 

Number of employees: 4,444: As per data already available in March 2021, Canara Bank employs a total of 88,213 employees to keep banking operations running smoothly. The bank merged with Syndicate Bank on April 1, 2020, as the coronavirus disease (COVID-19) pandemic was in full swing.

Number of Branches and ATMs: Canara Bank has a total of 9877 branches and 13124 ATMs (ATMs). The bank has branches in London, Hong Kong, Dubai and New York, as well as in London, Hong Kong and Dubai.

Canara Bank made its first purchase in 1961 when it acquired Kerala Bank. Canara Bank acquired his four banks in 1963: Sreepur Nathraithavirasam Bank, Tripunithura, Arnad Bank, Tiruchirapalli, Cochin Commercial Bank in Cochin and Pandian Bank in Madurai.

Interest rate: 10.20% to 13.90% per annum

Loan amount: Up to Rs.1 million

Maximum tenure: 7 years

Processing fee: 1% of loan amount.

Upfront Fee: Zero.

Minimum monthly income/annual business income: Based on loan amount requirements

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