syndicate-bank-personal-loan

Here are the eligibility criteria for different loan schemes:

• Canara Budget

The applicant should be a confirmed employee of any of the following Organization:

1. Reputed PSU
2. Central or State Government
3. Lecturer/ Assistant Professor/ Professor in a College or Research institute
4. Public Limited Company
5. IT Company
6. Other reputed Organizations
   
   

• Canara Pension

The following applicants can take out a business loan under this scheme:

1. All Central and State Government pensioners
2. Government Undertakings pensioners
3. PSU’s and Corporate pensioners
4. Family pensioners of the above mentioned people
5. Retired and family pensioners of Canara Bank Staff.
   
   

• Canara Teachers 

The applicants need to fulfill the following conditions to get a loan under this scheme:

1. Should be a part of the teaching/non-teaching staff of a school or a college
2. Should draw their salaries through a Canara Bank Account.
3. Should have more than 30% of the gross salary after paying the EMI or Rs. 10,000 (whichever
   is higher).
   
   

• Canara Home Improvement Loan:

1. Should be salaried/ self-employed/ businessperson who owns a flat or a home
2. Salaried individuals should have 25% of their gross salary after paying the EMI or Rs.
   2,000.
3. Professionals and other non-salaried persons must have a minimum annual income of Rs.
   50,000/- to be evidenced by Income Tax assessment order / return

All the applicants are required to submit the below-listed documents with Syndicate Bank -

• Filled up Canara Bank loan application form
• Proof of Identity
• 2 passport size Photographs
• Latest salary slip
• Form 16/ITR/ITAO of previous 3 years
• Pronote letter
• Proof of Residency

Identity Proof:

• Aadhar Card
• Driving License
• Valid Passport
• PAN Card
• Passport
• Voter ID

Proof of Residential Address

• Electricity bill
• Ration Card
• Passport
• Telephone bill
• Water bill

The loan verification proceeds in the following stages:

1. Fill the Canara Bank personal loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on apnapaisa.com.

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at Canara Bank verify the documents and the details there. They may visit the property if necessary.

4. Once your personal loan application is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

There are two reference rate systems linked to Syndicate Bank Personal Loan interest rate-

· Repo Rate

· MCLR Rate

The interest rate will also depend on a variety of other factors such as: collateral, loan scheme availed, loan amount, credibility of guarantor, and other relevant factors.