Is Canara Bank Personal Loan for 10000 Salary is Eligible?

If you need funds for urgent requirements like medical emergencies and your income is 10,000 then get a personal loan from the Canara bank. It gives loans to customers at an attractive interest rate for a longer repayment period. You can borrow a maximum of INR 3 lakh or more from the bank. To know about the Canara bank personal loan for 10000 salary, individuals must read this article. 

What is the Canara bank personal loan criteria to borrow an amount?

Any individual who is working in a public or private sector company for quite a long time such as 1 year and above is eligible for the loan. To get a Canara Bank personal loan, it is necessary you have a salary of INR 10000 else you can’t apply for the loan. The individual can borrow a loan equaling their 6 months gross income from the Canara bank. And they can pay the loan in equated monthly loan installments for 5 years. 

Low interest on your borrowed amount

Canara Bank interest rate on your loan amount starts from 12.55% per annum and it can be up to 14.60%. The interest rate on your personal loan is fixed and is payable along with the loan EMIs. You can get a low interest on your loan if your credit history is good without any defaults. The user credit history is checked to know the credit capacity and creditworthiness of the individual. So you can get the Canara bank personal loan for 10000 salary at a surprisingly lower rate of interest. You can pay off the loan interest along with your loan amount in EMI within 5 years of tenure. 

Manage EMIs with Canara Bank personal loan calculator

The user can take help of the EMI calculator to generate their loan installments. Just insert the loan details inside the calculator such as loan amount, interest and tenure. Then the EMI and the total payable interest on your loan will be shown on your screen. For example, if you have borrowed INR 3 lakh at 13.05% rate of interest for 46 months then the EMI would be INR 8,323. So, if you want to know your EMIs then just use the online EMI calculator and select suitable tenure for the loan payment. 

Apply for a personal loan from Canara Bank

To get a loan from Canara Bank just visit the nearest branch or use the online banking services. There are a few documents required for the personal loan that is Aadhar, PAN, salary slip, bank statement and form 16. When submitting all the necessary documents to the bank along with the required processing fee then the loan amount will be disbursed to your account within 48 hours of approval. The processing fee required for Canara bank personal loan for 10000 salary is 0.50% of the loan amount that can be up to INR 1,500. 

So get the Canara bank personal loan to fulfill your money requirements. Even if your salary is not high then also you can get a personal loan from Canara Bank with 10,000 salary. With Canara Bank personal loan, you can solve all your financial issues easily.