1. Canara Budget (For Employed/Business)
A simple Personal Loan Scheme exclusively for the benefit of employees of Corporates,
PSUs, Government Departments, Institutions, etc., and also Non salaried class like ;
professional/self employed, businessment
Purpose:
To meet genuine personal needs other than speculative purpose.
Eligibility:
Confirmed employees of reputed PSUs and Joint Stock Companies
Confirmed Central / State Government officials
Lecturers / Asst. Professors / Professors of Colleges / Research Institutions and
Universities.
Non Salaried:- Business/self employed who are in the business / profession for minimum
period of 3 year and who are having satisfactory dealings with the branch for at least 1
year.
Employees salary account / business account has to be maintained with our branch
For salaried: Minimum average net take home salary (NTH) for the last three months, of
the borrower after meeting the EMI should not be less than 40%.
For non-salaried: The gross annual income of the applicant should not be less than Rs. 5
lakh during the last 3 years.
Quantum :
Salaried: - Six months' gross salary or Rs.1 lakh whichever is less.
For Non salaried :- 50% of average gross annual income of the applicant for last 3
years subject to maximum of Rs.1 lakh
Higher quantum also considered selectively.
Rate of Interest:
Please visit our interest rate page for current rates
Repayment:
Salaried : In convenient Equated Monthly Instalments upto 48 months.
Non-salaried : In convenient Equated Monthly Instalments upto 36 months.

2. Security
Salaried : Normally, Co-obligation is required equal to loan amount.
Non-Salaried : Suitable co-obligation good for the loan amount is required.
Processing Charges:
0.5% of the loan amount subject to a minimum of Rs.100/- and maximum of Rs.500/-.
Documents / Formalities
Stipulated Loan Application with 2 copies of passport size photographs
Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years.
Co-obligation
Pronote / Pronote Covering Letter