Canara Bank Home Loan Interest Rate — 16th September 2026
Public sector bank
Canara Bank publishes the home loan interest rates it actually charged — 7.15% to 10.00% for contracted loans, w.e.f. 12 December 2025, with a mean of 8.06%. That tells you more than a card rate would, and this page explains why, alongside the EMI those rates produce.
Lowest rate charged
7.15%
Mean rate charged
8.06%
Highest rate charged
10.00%
Period
contracted loans, w.e.f. 12 December 2025
Read from Canara Bank’s own website on 16 September 2026. Source and method
Canara Bank home loan interest rates: what borrowers actually paid
Rates on housing loans Canara actually issued
| Housing loan | Range of contracted rates | Mean rate |
|---|---|---|
| Housing Loan | 7.15% – 10.00% | 8.06% |
This is Canara’s disclosed range of rates on contracted housing loans, with effect from 12 December 2025 — not an advertised card rate. Canara’s housing loan product page publishes no numeric rate.
What Canara Bank’s disclosed interest rates tell you
Canara doesn’t advertise a home loan rate on its product page — its FAQ says the rate depends on your profile and the bank’s policy. What it does publish is more revealing: the range of rates on housing loans it has actually contracted, 7.15% to 10.00%, with a mean of 8.06%. That mean is the useful number. It says a typical Canara borrower pays around 0.90% more than the bottom of the range, so budget for something closer to 8% than 7% unless your credit profile is genuinely strong.
On its lowest disclosed rate, Canara Bank would rank joint 5th of the 48 lenders we track — though that compares a rate it actually charged with other lenders’ advertised floors, so read it loosely. That floor is 1.90 percentage points above the RBI repo rate of 5.25%, the benchmark most floating home loans in India now price against. Paying the mean rate of 8.06% rather than the lowest, 7.15%, adds ₹3,351 a month to a ₹60 lakh, 20-year loan.
EMI at the interest rates Canara Bank actually charged
Monthly EMI at 8.06%, the mean rate Canara Bank charged in contracted loans, w.e.f. 12 December 2025 — a realistic planning figure. The last column shows the EMI at 7.15%, the lowest rate it charged.
| Loan amount | 10 years | 15 years | 20 years | 25 years | 20 yrs at 7.15% (lowest) |
|---|---|---|---|---|---|
| ₹35 lakh | ₹42,576 | ₹33,569 | ₹29,406 | ₹27,153 | ₹27,451 |
| ₹50 lakh | ₹60,822 | ₹47,956 | ₹42,009 | ₹38,790 | ₹39,216 |
| ₹70 lakh | ₹85,151 | ₹67,138 | ₹58,812 | ₹54,306 | ₹54,903 |
| ₹1 crore | ₹1,21,645 | ₹95,912 | ₹84,018 | ₹77,580 | ₹78,433 |
Reducing-balance EMI, before processing fees and insurance. Run your own numbers →
Canara Bank against lenders priced nearby
The four lenders whose published starting rates sit closest to Canara Bank’s, with the EMI each floor produces on ₹60 lakh over 20 years.
| Lender | Published rate | EMI, ₹60 lakh / 20 yrs | vs Canara Bank |
|---|---|---|---|
| Canara Bank Public sector bank | 7.15% – 10.00% | ₹47,060 | — |
| Indian Bank Public sector bank | 7.15% – 9.15% | ₹47,060 | same |
| UCO Bank Public sector bank | 7.15% – 9.25% | ₹47,060 | same |
| Union Bank of India Public sector bank | 7.15% – 9.35% | ₹47,060 | same |
| LIC Housing Finance Housing finance company | 7.15% – 10.30% | ₹47,060 | same |
What to expect when you apply to Canara Bank
- Canara’s mean contracted rate of 8.06% is a better yardstick than its 7.15% minimum: a written quote below the mean on a documented salaried profile is a competitive offer.
- Plan around the mean, not the minimum. The minimum was earned by the strongest files the lender saw that period; the mean is a far better guide to an ordinary one.
- Read the sanction letter for the benchmark, the spread and how often the rate resets. Those three lines decide your EMI for the life of the loan far more than the day-one rate does.
Processing fee and other Canara Bank charges
| Processing fee | 0.50% of the loan amount, minimum ₹1,500, maximum ₹10,000, plus GST. On a ₹60 lakh loan, that comes to ₹10,000, before GST. |
|---|---|
| Prepayment and foreclosure | No prepayment penalty — the loan can be prepaid or closed without one. |
| Construction not started in the permitted time | 2.00% a year on the outstanding, until it starts |
| Fixed-rate loan taken over by another lender | 2% of the outstanding |
Canara is running a 50% processing-fee waiver from 1 July to 30 September 2026. Customers with Canara SB Premium Payroll accounts (Gold, Diamond, Platinum) get a full waiver on takeover loans until the same date.
Source: Canara Bank’s own schedule of charges, read on 16 September 2026: https://www.canarabank.bank.in/pages/housing-loan
Who can get a Canara Bank home loan
| Who can apply | Salaried borrowers with two years’ service (at least six months with the current employer); business owners and self-employed professionals with three years of income tax returns; resident Indians and NRIs. |
|---|---|
| Age | Loan to end by 75 |
| Longest term | 30 years |
| Loan amount | No upper limit; salaried borrowers up to 72 times monthly gross salary |
Source: Canara Bank’s home loan page, read on 16 September 2026. Meeting these criteria doesn’t guarantee approval. https://www.canarabank.bank.in/pages/housing-loan
Canara Bank home loan interest rate — common questions
What is the current Canara Bank home loan interest rate?
What is Canara Bank’s home loan processing fee?
What is the maximum tenure of a Canara Bank home loan?
What rate do Canara Bank borrowers actually pay?
What is the EMI on a ₹60 lakh home loan from Canara Bank?
Is Canara Bank’s home loan interest rate fixed or floating?
How does Canara Bank compare with Indian Bank?
Where these figures come from
Source: Canara Bank’s own interest rate page, read by BankCreds on 16 September 2026: https://www.canarabank.bank.in/pages/interest-rate-range-on-loans
The figures cover contracted loans, w.e.f. 12 December 2025.
This is the first reading in our Canara Bank rate history, taken on 16 September 2026, and future changes will be dated from it. The fees and eligibility shown were read from Canara Bank’s own schedule of charges and product pages.
Rates are what Canara Bank publishes, not an offer: the rate you’re quoted is set by Canara Bank after it assesses your application. How we collect and check rates →