GIST OF RETAIL LENDING SCHEMES OF THE BANK AS ON 10.02.

2021
Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
1. Housing Loan Purchase/ construction/ Housing Loan to Individuals: For Salaried class: a) Repayment – Up to 30 years OR up to 0.50% of the
purchase of site (60%) & Salaried (Confirmed):  72 times of last drawn monthly 75 years of age of the borrower, Loan Amount.
Product Code: construction/ Two Years aggregated regular and gross salary (Regular income to be whichever is earlier. (Min. of
(619) Renovation of flat and continuous service. ascertained by verifying previous Relaxation: Rs. 1,500 &
house. Relaxation: 6 months salary slips), subject to Repayment above 70 years: NTH upto Max. of
One year aggregated regular, production of documentary 25% with minimum of Rs 20,000 by Rs. 10,000).
Takeover of HL: confirm and continuous service by evidence regarding the gross Circle Head-CO-CAC.
Next Higher Authority. annual income.
From Public Sector Non-Salaried: Applicants should For Non-Salaried class: b) Margin:
Banks/Private Sector have been in the  6 times of annual gross income For New House/Flat & Old House/Flat (≤
Banks/Co-operative business/Profession for minimum (Average of three preceding years 10 Years old):
Banks/RRBs/NBFCs/HFCs 3 years. annual income) i.e the financial 10% to 25%.
/Army Group Insurance Relaxation: years immediately preceding the
Fund. Restriction on minimum business: current financial year during Old House/Flat (> 10 Years old) &
RAH Head/ RO HEAD - CAC/ AGM- which the customer desires to Repairs/Renovations: 25%.
CO-CAC & above authorities. avail Housing Loan.
Higher Quantum: Relaxation:
Takeover from Public Sector  84 times of last drawn monthly Waiver of salary credit/mandate:
Banks (PSBs) gross salary in case of Salaried DM/AGM RAH or AGM-RO-CAC or AGM-
Normal Sanctioning Class & 7 times of annual gross CO-CAC.
Sanctioning Authority for income in case of Non-Salaried LTV Ratio & Risk Weight:
Power Takeover class can be sanctioned by RAH LTV Risk Std. Asset
Below Circle Next Higher
Head/RO Head- RO - CAC and Ratios% Weights% Provision
Head Level Authority/CAC
CAC/Individual above authorities on selective (%)
Authority basis for Low/Normal Risk ≤80 35
0.25
Circle Head Respective borrowers subject to NTH of 25% >80 ≤90 50
Level CAC & CACs or Rs 20,000; whichever is higher.
above  96 times of last drawn monthly In terms of HO Cir. 807/2020 dt.
gross salary in case of Salaried 20.10.2020 & 912/2020 dt.04.12.2020,
Takeover from NBFCs/HFCs: Class & 8 times of annual gross maximum LTV is stipulated at ≤90% in
 For Salaried Individuals: income in case of Non-Salaried respect of Housing Loans sanctioned till
Irrespective of the Risk Grade class can be sanctioned by CO 31.03.2022.
of NBFCs/HFCs by following HEAD CO-CAC and above
authorities upto their authorities on selective basis for In view of the above guideline, if any
delegated powers: Low Risk borrowers located in Housing Loan is to be sanctioned with
Risk Grade upto RAH Head Metro/Urban centres only. reduced margin of upto 10% (i.e. LTV of
CS:2 (Low & and above subject to NTH of 30% or Rs ≤90%), the same shall be sanctioned by
Normal Risk authorities 20,000; whichever is higher. Circle Head CAC (CGM / GM / DGM
grade)
headed) and above authorities upto their
Risk grade upto RO Head CAC
CS:3 (moderate and above
respective delegated powers, after
risk grade) authorities satisfying the need for such requirement.

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
 For Non-Salaried Individuals:
(a) NBFCs/HFCs should be
rated externally as A and
above only.
(b) Sanctioning authority-CO
Head CAC & above
authorities subject to
specific conditions.
Takeover from RRBs:
Permitted for takeover as per Risk
Grade by following authorities
upto their delegated powers:-
Risk grade upto
CS:2 (low & RO Head CAC
normal risk
grade)
Risk grade upto CO head CAC
CS:3 (moderate and above
risk grade) authority
Takeover from Co-operative
Banks:
Permitted for takeover by Circle
Head CAC subject to eligibility in
terms of Credit history & Credit
Scores.
2. Housing Loan to As per General Housing Housing Loan to As per General Housing Loan Scheme. Margin & NTH: 0.50% of the
Agriculturists Loan Scheme. Individuals/Agriculturists. As per General Housing Loan Scheme. Loan Amount
 Individuals having satisfactory
Product Code: dealings for 2 years. LTV Ratio & Risk Weight: As per General (Min. of
(661) Relaxation: Housing Loan. Rs. 1,500 &
Customers with dealings of less Max. of
than 2 years and in case of Repayment: Rs 10,000).
applications from new branches: 30 Years. However, it should be ensured
RAH Head (for mapped branches)/ that the entire loan is cleared before the
RO-Head-CAC (for not mapped borrower / youngest of the borrowers
branches) and above authorities, attains the age of 75 years.
depending on merits.
Customers not banking with any
other Bank or with our Bank
earlier and otherwise qualify for
the Housing loan under the
scheme, in such cases also the
RAH Head (for mapped branches)/

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
RO-Head-CAC (for not mapped
branches) can permit the Housing
Loan by ensuring the credit-
worthiness and genuineness of the
parties.
 Agriculturists owning and
cultivating agricultural lands of
more than 5 acres (Irrigated lands)
/ 10 acres of Dry lands.
 Agriculturists engaged in Dairy
farming, Poultry farming,
Plantation Crops and
Horticultural produce:
Landholding norms not applied.
Minimum Gross Annual Income is
Rs 5.00 lakhs.
3. Pradhan Mantri Purchase /construction PMAY (U) CLSS scheme to Salaried: a) Carpet Area Norms: No Processing
Awas Yojana of House & Flat / beneficiaries under EWS / LIG / Max. Quantum 72 months of last drawn EWS: 30 sqm; LIG: 60 sqm Charges up to
(PMAY) Repair & Renovations/ MIG-I & MIG-II category. gross annual salary. MIG-I: 160 sqm; MIG-II: 200 sqm the loan
Extension. Beneficiary should not own a Non-Salaried: amount
Pucca House. 6 years gross annual income of the LTV Ratio & Risk Weight: As per General eligible for
Product Code: Age: 21 to 60 Years. concluded financial year i.e the financial Housing Loan. subsidy.
(630) year immediately preceding the financial b) Annual Income
If the age of the beneficiary is year during which the customer desires EWS: Up to Rs. 3.00 lacs.- Actual
more than 55 years, then spouse to avail HL. LIG: > Rs 3 lakhs and ≤ Rs. 6.00 lacs processing
or legal heirs have to join the loan. MIG-I > Rs.6 lacs and ≤ Rs.12 lacs. charges to be
Relaxation: However, permitting maximum upto 6 MIG-II > Rs. 12 lacs and ≤ Rs.18 lacs. collected for
Borrower having sufficient income years gross salary/income is subject to c) NTH: 25% or Min. of Rs 10,000. loan beyond
even after attaining 60 years of NTH & LTV compliance and the same is Repayment: The loan is to be repaid the eligible
age; Next Higher Sanctioning in line with regulatory guidelines. normally in EMIs within 30 years amount for
Authority may waive the condition including the maximum moratorium subsidy.
of obtaining earning legal heirs as period of 36 months, subject to the
co-applicant. maximum age of the borrower, within
which the loan should be repaid, should
not exceed 75 years.

Obtention of Aadhaar from all

borrowers is mandatory for availing
subsidy benefit under PMAY (U)-CLSS.
4. Housing Loan to As per General Housing Housing Loan to NRIs and Persons FOUR times of Annual Gross Income. Margin: As applicable to General 0.10% of the
NRIs Loan Scheme. of India Origin (PIO). Housing Loan. Loan Amount
 All NRIs having valid Indian Relaxation: LTV Ratio & Risk Weight: As per General (Min. of
passport and Persons of Indian 5 years of Gross Annual Salary/Income Housing Loan. Rs. 500 &
Retail Products Section, Retail Assets Wing, Head Office: Bengaluru

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
Product Code: Relaxation: Origin having foreign passport. by RAH Head/ RO Head-CAC/AGM-CO- NTH: 40% Max. of
(662) Employment abroad to 1  Age: 21 – 60 years. CAC & above authorities Repayment: 30 years or up to the age of Rs 10,000).
year & NRI status to 2  2 years of minimum 60 years of the borrower, whichever is
years by Circle Head-CO- employment in abroad. earlier.
CAC  NRI status for 3 years. Relaxation:
30 years or 70 years of age of the
borrowers by Circle Head-CO-CAC
5. Canara Kuteer- For Purchase / Individuals with house hold i. For Household income of Up to NTH: 60%. 0.50% of the
Housing Loan Construction / Purchase Income in Rural, Urban, Metro ₹1,00,000/- p.a: Rs 5,00,000/- Repayment: Not exceeding 30 years OR loan Amount
Scheme of site and construction areas and members of Self Help 75 years of age whichever is earlier. (Min. of
of House Groups ii. For Household income of above ₹ Margin: As per Housing Loan scheme Rs 1,500 &
Product Code: 1,00,000/- & up to ₹ 3,00,000/- p.a: Rs guidelines. Max. of
(619) i. Up to ₹1,00,000/- p.a. 10,00,000/- LTV Ratio & Risk Weight: As per General Rs 10,000).
ii. Above ₹1,00,000/- & up to Housing Loan.
₹3,00,000/- p.a
6. Housing Loan to To provide Home Loans  All the partnership firms/ a. As per Housing Loan guidelines. Margin & NTH: 0.50% of the
Corporates to Corporate Entities for Private limited and limited b. Minimum amount of As per Housing Loan Scheme Guidelines. Loan Amount
construction / companies having satisfactory Rs 50.00 Lakhs Repayment: 15 Years. (Min. of
Product Code: acquisition / purchase of track record of at least three Rs 1,500 &
(632) Residential years with us. Max. of
Units/Takeover of  Must be profit earning unit in Rs 10,000).
existing loans. the last 3 years.
 ‘A’ rated and above corporate.
7. Canara Home Loan For purchase of Facility shall be made available to Min: Rs 20.00 lakhs ROI/MARGIN/LTV RATIO: As applicable As applicable
Super Gain (CASA) House/flat/plot of land. new as well as existing Home Loan Max: No upper limit to Housing Loan scheme guidelines. to General
Scheme Construction/extension/ (sanctioned / outstanding amount) Tenor: Not Exceeding 30 years of Housing Loan
repair/renovation of of Rs 20.00 lakhs and above. repayment (Including repayment Scheme
Product Code: new/ second hand holiday) or 75 years of age whichever is
619 (Loan) residential flat /house earlier.
1263 (CASA) Repayment/Security & Release of
Documents: As applicable to Housing
Loan guidelines.

Features:
 Canara Home Loan Super Gain (CASA)
shall be sanctioned as a Term Loan and
linked with a new CASA product
account (Saving Bank Account) opened
for the same customer. The rate of
interest applicable to the saving
account will be configured as Zero. The
customers will have to remit the

Retail Products Section, Retail Assets Wing, Head Office: Bengaluru

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
Equated Monthly Instalments (EMIs)
through linked saving account only. The
surplus amount parked in the linked
Saving Account will be available for
withdrawal.
 Any credit balance available in the
linked saving account at the end of the
day will be considered as advance
payment made in linked home loan
account. Consequently, the Borrower
will get the interest benefit in housing
loan to the extent of balance available
in the Saving Account at the end of the
day.
 For servicing the monthly installment
(EMI) the drawdown of EMI shall be done
from linked Saving Account only.
 The surplus amount deposited in the
Saving Account can be withdrawn by the
borrower any time.
 Linked Saving account shall be enabled
with additional facilities like ATM,
Internet Banking.
 The extant guidelines applicable to
Housing Loan Scheme of bank, including
those for interest rate, margin,
repayment, penal interest, pre-closure
penalty etc., shall also be applicable to
Loans sanctioned under “Canara Home
Loan Super Gain (CASA) Scheme”
facility.
8. Rain Water Installation of Rainwater To individuals constructing house, 75% of the estimated cost as per the Margin: 25%. 0.50% of Loan
Harvesting Harvesting Unit. making modification of existing unit cost stipulated here-below: Repayment: 60 Months. Amount
house.  Plot size- ≤ 1500 sq.ft: (Min. of
Product Code: Rs 57,700/- Rs 1,500 &
(618)  Plot size- > 1500 sq.ft ≤ 2400 sq.ft: Rs Max. of
73000/- Rs 10,000).
 Plot size- > 2400 sq.ft ≤ 5000 sq.ft:
Rs 82000/-
 Plot size- > 5000 sq.ft:
Rs 1,85,000/-

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
9. Canara Home Loan To meet domestic needs  In case of existing Housing Loan Salaried Class: 10 months’ gross salary Margin: Nil. 0.50% of the
Plus / medical expenses / Customers:- Non-Salaried Class: 85% of 3 years Loan Amount
educational expenses of -Individuals aged between 18 & average gross income. NTH: Salaried Class: 40%. (Min. of
Product Code: children / dependents / 70 years who have already Rs 100 & Max.
(629) unforeseen availed HL with satisfactory (max. amt. under the scheme is Rs. 25 Non-Salaried Class: Annual EMI of
contingencies etc. repayment of the loan promptly lakhs) commitments shall not be more than Rs 500).
irrespective of period run with 50% of the Annual Income.
our Bank subject to specific Repayment: 120 months OR left over
terms & conditions subject to repayment period for the existing
scheme guidelines. Housing Loan OR age of the borrower is
 In case of takeover of TOP up 70 years, whichever is earlier/less.
loan along with Housing Loan:-
-Takeover of top-up loan along
with HL to be considered under
Canara HL Plus scheme subject to
period of HL run at Banks/FIs, by
fulfilling the specific terms &
conditions subject to scheme
guidelines
 NIL overdues under existing
loans.
10. Purchase of Brand New Canara Vehicle loan to For Both Existing & New Customers Margin:
Four Wheeler/s Individuals / Firms / Companies Sl 4-Wheeler Quantum For Both Existing & New Customers
Salaried Class: Minimum Gross No Loan Central/St All others Sl 4-Wheeler Margin
Salary of Rs 3.00 lacs per annum. amount ate customer No Loan Central/St All others
for new Govt./Aut s amount ate customer
Non-Salaried Class: Minimum
vehicle onomous for new Govt./Aut s
Gross Annual Income of Rs 3.00
Bodies/PS vehicle onomous
lacs subject to 3 years Gross Us Bodies/PS
Average Annual Income of not less employee Us 0.25% of the
Canara Vehicle than Rs 2.50 lakhs. s employee Loan Amount
Determination of Eligibility 1 Upto Rs s
Product Code: Criteria:- 10.00 90% 90% 1 Upto Rs (Min. of
(603) For salaried & other than salaried lakhs 10.00 10% 10% Rs. 1,000 &
individuals, either singly or jointly 2 >Rs 10.00 lakhs Max. of
with family members (father, lakhs upto 90% 85% 2 >Rs 10.00 Rs 5,000).
Rs 25.00 lakhs upto 10% 15%
mother, son, spouse or unmarried
lakhs Rs 25.00
daughter) as co-applicants. 3 Above Rs lakhs
The sanctioning authority can also 25.00 80% 80% 3 Above Rs
take into, account any other lakhs 25.00 20% 20%
income declared by the borrower lakhs
like rental income / income from Repayment: 84 Months.
investment / income of the either Loan proceeds by way of
individually or jointly with family NEFT/RTGS/Demand Draft Only.
Retail Products Section, Retail Assets Wing, Head Office: Bengaluru

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Sl. Scheme Purpose Eligibility
No.
(any member good for the loan)
which are regular and reasonable
in nature, subject to production of
documentary evidence.
Relaxation:
Waiver of salary Tie-up: DM/AGM
RAH OR DM/AGM-RO-CAC
or DM/AGM CO-CAC & above
authorities.
Purchase of Apart from above guidelines, Loan 
Pre-owned Four - under this scheme can be
Wheeler/s considered for purchase of second
hand / used vehicles also which
are not older than THREE years.
Purchase of Brand New Canara Vehicle loan to
Two Wheeler Individuals.
Salaried: Minimum Gross Salary of
Rs. 1.75 lacs per annum.
Respective Sanctioning Authority
is delegated to sanction for Two-
Wheeler loan amount upto Rs
1.50 lakhs, upto Moderate Risk
Grade of Salaried borrowers.
Non-Salaried: Minimum Annual
Income of Rs. 2.00 lacs.
Retail Products Section, Retail Assets Wing, Head Office: Bengaluru
Quantum Terms & Conditions Processing
Charges
Upto Rs.15.00 lakhs (after Margin:
maintaining a minimum margin of  40% (For Loan Amount upto Rs 15.00
40%) by Respective Sanctioning lacs)
Authority.  50% (For Loan Amount above Rs
 Above Rs.15.00 lakhs upto Rs.30 15.00 lacs upto Rs 50.00 lacs)
lakhs (after maintaining a minimum
margin of 50%) by Regional Head- Repayment: 60 Months or future life
CO-CAC and above higher authority. specified, whichever is less.
 Above Rs.30.00 lakhs upto Rs.50
lakhs-Maximum cap (after Loan proceeds by way of
maintaining a minimum margin of NEFT/RTGS/Demand Draft Only.
50%) by Circle Head-CO-CAC and
above higher authority.
 60% or 50% value of vehicle as
appraised by automobile engineer/
agreed to between the seller and
buyer/original purchase price.
Whichever is lower.
NTH: 0.25% of the
I-For Existing Customers: Pensioners-50% Loan Amount.
a) Salaried: 85% of the total value of Salaried-35% (Min. of
invoice OR 50% of their Annual Net Other than Salaried-40% Rs. 250 &
Income*. Max. of
b) Non- Salaried: 75% of the total value Repayment: 60 Months. Rs. 1,000).
of invoice OR 50% of their Annual Net Respective Sanctioning Authority may
Income*. permit loan to Salaried borrowers
II-For New Customers without referring to Embargo norms.
a) Salaried: 80% of the total value of
invoice OR 50% of their Annual Net Loan proceeds by way of
Income*. NEFT/RTGS/Demand Draft Only.
b) Non- Salaried: 65% of the total value
of invoice OR 50% of their Annual Net
Income*.
(* Whichever is less.)
7
Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
11. Canara Vehicle Purchase of Brand New Loan to Agriculturists owning and Loan Quantum: As per the scheme Repayment: 0.25% of the
to Agriculturists and used 4 wheeler cultivating agricultural land of guidelines of Canara Vehicle Loan  New Vehicles: 84 months. Loan Amount
including Jeep, Vans etc. more than 5 acres of irrigated (Four-Wheelers)  Pre-Owned Vehicles: 60 Months (Min. of Rs.
Product Code: lands/10 acres of dry lands. Loan proceeds by way of 1,000 & Max.
(636) Borrowers should have NEFT/RTGS/Demand Draft Only. of
satisfactory dealings with us for Rs 5,000).
last 2 years.
Relaxation:
New customers and New Branches
not completed 2 years from date
of opening: RO-Head – CAC can
permit loans selectively.
12. Canara Mortgage For non-business Loan to Individuals/NRIs/ 50% value of the property OR Rs 10.00 Margin: 50%. 0.50% of Loan
purpose only, for Employees crores, whichever is less. NTH: 20% OR Rs. 20,000 p.m. whichever Amount with
meeting any unforeseen  18 years and above. is higher. Min. of
Product Code: expenses, urgent  NRI customers with their Repayment: Rs. 5,000/-
(605) personal and medical resident close relatives.  Upto 120 months (10 years) by
needs etc.  Employees of our bank. Respective Sanctioning Authority.
 Upto 144 months (12 years) by Next
Higher Authority on case to case
basis.
 Upto 180 months (15 years) by Circle
Head CO-CAC on case to case basis.
For higher repayment consideration, the
entire sanction may be permitted by the
higher authorities under who’s the
proposal falls as per the above
delegation.
Security:
Value of the property should be 200% of
the loan amount.
Canara Mortgage Loan can be permitted
against the property which is already
mortgaged under any Retail Lending
Scheme OR vice-versa, subject to the
compliance of all other guidelines as
applicable to respective Retail lending
Scheme guidelines.
In respect of sanctioning Canara
Mortgage Loan against property/ies
already mortgaged for Education Loans,
outstanding liability under such

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
Education Loan to be considered as
200% for arriving residual value.
Further, if any of the existing loans
(under Retail Loans) to same borrower
are sanctioned by a higher authority,
due to certain relaxations, etc., the said
higher authority shall sanction such
loans with the same security even
though it falls under the delegated
powers of a lower authority.
13. Canara Rent To meet business needs Loan to Individuals 75% of the net rent receivable for the Margin: 25%. 1% of the
and/or other genuine  Customers with satisfactory unexpired period of lease, net of TDS Repayment: 120 months OR unexpired Loan Amount
Product Code: personal needs of the dealings with our Bank. and advance rent taken. lease period, whichever is earlier. with Min. of
(606) owners (lesser)  New Customers should be well In respect of Corporates such as Rs 5,000.
introduced with satisfactory OPL Relaxation: Navaratna companies, PSUs, AAA rated
/ Market report on them. ED CAC/CAC of the Board: 85%. reputed companies, our Bank and
insurance companies: 180 Months.
NTH: Nil.
14. Canara Site Purchase of land / plots Loan to Individuals/NRIs/ 4 years gross salary / gross annual Margin: 0.50% of the
of Government Employees income OR 75% of the cost of the a) Vacant plots by Government Loan Amount
Product Code: Development site/guideline value (whichever is less). Development Authorities: 30% (Min. of
(620) Authorities. Our existing customers / b) Other Vacant Plots: 50%. Rs 1,500 &
Employees / NRIs. NTH: Max. of
Takeover of loan account a) Salaried Class: 40%. Rs 10,000).
from other Banks. Age of the applicant should be less b) Non- Salaried Class:
than 60 years. Net Annual Income adequate to meet the
instalments.
Repayment: 10 years OR period
permitted by the allotment agency OR 65
years of age of the borrower (at closure
of loan), whichever is earlier.
15. A) Scheme Name: Loan to Individuals against the Rate of Advance: 85% of rate of Margin: Nil. 0.50% of the
General pledge of Gold advance advised by H.O. OR 65% of the Loan Amount
Medical expenses / other Ornaments/specially minted Gold appraised value; whichever is lower. NTH: N.A.
unforeseen Coins (sold by the Banks). The (Min. of
Swarna Loan commitments/ total weight of specially minted Min. amount: Rs 5,000. ROI: RLLR+0.75% (Concessional ROI Rs 500 & Max.
investment/ domestic Gold Coins should not exceed 50 Max. amount: Rs 20.00 lakhs. applicable till 31.03.2021) of
purposes. grams per borrower. Rs 5,000.
Product Code: (608) LTV Ratio: 75% Repayment: 12 months
B) Scheme Name: SB account holder with Rate of Advance: 70% of the appraised Repayment: Tenable for 2 years with 0.50% of the
Overdraft satisfactory dealings. value. annual review. Loan Amount
Medical/other Min. amount: Rs 5,000.

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
unforeseen expenses/ Max. amount: Rs 20.00 lakhs. ROI: RLLR+0.75% (Concessional ROI (Min. of
investment/ domestic LTV Ratio: 75% applicable till 31.03.2021) Rs 500 & Max.
expenses. of
Product Code: (235) Rs 5,000.
C) Scheme Name: Rate of Advance: 70% of the appraised Repayment: Bullet repayment in 6 50% of
-Express value. months. charges
Medical / other applicable to
unforeseen expenses/ Min. amount: Rs 5,000/- ROI: RLLR+0.75% (Concessional ROI Swarna
investment/ domestic Max. amount: Rs 20.00 lakhs. applicable till 31.03.2021) Loans.
expenses.
Product Code: (952) LTV Ratio: 75%
16. Canara Budget To meet any  Term Loan: All confirmed Term Loan: As specified in the scheme NTH: 25% OR Rs. 10,000 p.m. whichever 0.50% of the
personal/domestic employees of Central/ State guidelines. is higher. Loan Amount
Product Code: needs (Term Loan OR Government / Reputed PSUs / Relaxations: (Min. of
(626) Overdraft) Joint Stock Companies / Reputed Overdraft: Maximum of Rs 3.00 lakhs. 25% or Rs 7,500; whichever is higher by Rs 1,000 &
Corporates / Public Limited Circle Head CO-CAC. Max. of
Special Packages: Circle Companies / Private Institutions Special Packages: Margin: Nil. Rs 5,000).
Head CO CAC / Lecturers / Asst. Professors / Loan upto 15 months Gross Salary Repayment:
Professors of Colleges / subject to maximum 10.00 lakhs.  Term Loan-60 Months.
Research Institutes and CGM/GM-HO-CAC & above
Universities IT / BT Companies. authorities can permit relaxation in
 Overdraft: Top Executives in the repayment period upto 72 months
Cadre of Secretary, upto their delegated powers only.
Additional/Joint Secretaries and  Overdraft: Renewal in 2 years.
above in Central/State Security:
Governments/Big Suitable Co-obligation good for the loan
Corporates/Public Sector & acceptable to Bank. However,
Undertakings CGM/GM-CO-CAC is empowered to
waive obtention of Co-obligation subject
Special Packages: to compliance of suitable mitigants for
Employees of Govt./Reputed under subject scheme.
PSUs/Reputed Corporates in the Special Package permitted by the Circle
Circle/Established IT/BT Companies Offices under Canara Budget:
with proper due diligence & NTH: 25% OR Rs. 10,000 p.m. whichever
ensuring proper recovery is higher.
mechanism. Margin: Nil.
Repayment:
 Term Loan-60 Months.
CGM/GM-HO-CAC & above authorities
can permit relaxation in repayment
period upto 72 months upto their
delegated powers only.
 Overdraft: Renewal in 2 years.
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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
Security:
Suitable Co-obligation good for the loan
& acceptable to Bank. However,
CGM/GM-COC-CAC is empowered to
waive obtention of Co-obligation subject
to compliance of suitable mitigants for
under subject scheme.
Relaxations
(a) NTH upto 25% or Rs 7500/-
whichever higher after meeting
proposed loan.
(b) Minimum confirmed service to 1
years instead of 3 years.
(c) Waiver of undertaking letter from the
employer not to shift salary account on
selective basis wherever salary accounts
are maintained under Canara Budget-
Special Package Scheme, NPA levels as
at previous month is stipulated below.
The following individual/authorities are
empowered for permitting waiver:
Individual/authori NPA Level
ty
Branch In-charge Upto 3%
CGM/GM-CO-CAC >3% to 5%
CGM/GM-HO-CAC Above 5%
The same is applicable for special
package extended to more than one
branch. However, Circle to empower
branches for permitting waiver based on
average NPA level under particular
special package.
17. Teachers Loan To meet any personal/ Confirmed Teaching / Non Branch In-charge of Small, Medium & NTH: 30 % of the gross salary or Rs. 1.0% of the
domestic needs. Teaching Staff/Individuals whose Large branches: 6 months gross salary 10,000/-; whichever is higher. Loan Amount
Product Code: salary is being credited in the (maximum of Rs. 2 lacs). Repayment: 48 months. (Minimum of
(609) financing branch. CM of VLB, AGM of ELB, DM /AGM-RO- Relaxation: 60 months by Next Higher Rs 50).
CAC, DM- CO-CAC/AGM-CO-CAC and Authority.
above authorities: 10 months gross Margin: Nil.
salary (max. of Rs. 3.00 lacs).
18. Home For furnishing the house/ Individuals complying with the Up to 20% of total Housing Loan  Margin: 0.50% of the
Improvement flat / to purchase eligibility criteria of Housing sanctioned amount OR One Year’s If availed with HL: As stipulated under Loan Amount
Loan household furniture Finance scheme. Gross Salary/ Gross Income whichever HL. (Min. of
items, refrigerator, fans is lower. Others: 20%. Rs 1,500 &
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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
Product Code: etc.  Net Take Home: Max. of
(618) Salaried Class: 25% of the gross salary or Rs 10,000).
Rs. 2,000.
Non-Salaried Class: Minimum annual
income of Rs. 50,000/-.
 Repayment: Residual tenure of
underlying Housing Loan OR 7 years,
whichever is lower, subject to
borrower attains the age of 70 years.
19. Canara Pension To meet the cost of Eligibility: Pensioners drawing their pension through our branches. Margin: Nil. Nil
Loan genuine personal needs Net Take Home:
of the pensioners/ a) Retired Employees /Family Pensioners of Retired Employees of our Bank. a) Retired Employees/Family
Product Code: Family Pensioners/ Quantum: 20 months’ pension amount or Rs.10,00,000/- whichever is less. Pensioners of our Bank: 25% of Gross
(607) payment of premium of Pension.
IBA Group Mediclaim Repayment Period: b) General Public Pensioners/ family
Insurance Policy. i) To be repaid in 72 EMIs if the pensioner is below the age of 65 years. pensioners: 40%
ii) To be repaid in 60 EMIs if the pensioner is above the age of 65 years.

b) General Public pensioners/family pensioners:

General Pensioners: Max Amt. 18 months pension
Age at the time Max Loan Repayment Age at the time
of Loan Amt Period of full
sanction Repayment
Below 70 years 10.00 lakhs 60 months Up to 75 years
70 - 75 years 5.00 lakhs 36 months Up to 78 years
Defence Pensioners: Max Amt. 24 months pension
Below 50 years 10 lakhs 84 months 57 years
50 - 60 years 8 lakhs 60 months 65 years
60 - 70 years 6 lakhs 48 months 74 years
70 - 75 years 5 lakhs 24 months 77 years
Family Pensioners: Max Amt. 18 months pension
Below 70 years 5.00 lakhs 60 months 75 years
70 - 75 years 3.00 lakhs 36 months 78 years

To Remit Annual Premium of IBA Group Mediclaim Insurance Policy by

Retired Employees/Family Pensioners of our Bank:
 Amount of Annual Premium payable.
 Rs 10.00 lakhs minus existing liability, if any.
 Rs 90,000
Whichever is lower out of the above three.

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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
20. Education Loan To provide facility to Student Eligibility:- Need based finance subject to repaying 1.Vidya Sagar:- Margin For Inland
meritorious students to  Should be an Indian capacity of the parents /students with Upto Rs 4.00 lacs-Nil Studies:
Product Code: pursue higher national. required margin as per Education Loan Above Rs 4 lacs:- NIL
( 651,654,655) education in  Non-resident different schemes guidelines: Studies in India- 5%
professional & technical Indians(NRIs)-Student  Vidya Sagar Studies abroad- 15% For Abroad:
courses both in India & holding Indian passport Need Based Finance Security :
abroad. & meeting other  Vidya Shakti (EL for PWD) For inland & Abroad studies ABOVE Refundable to
eligibility requirements Need based finance maximum upto Rs.7.50 lakhs and Loans above Rs.4.00 be collected
 Overseas Citizens in Rs 1.50 under Vocational/ lakhs in Management Quota: Tangible upfront as
India (OCI)/Persons of Certificate/ Diploma Courses & Rs collateral security to cover at least 100% applicable to
Indian Origin (PIO) 7.50 lakhs for other courses which of the loan amount with stipulated Terms Loans
category {For Inland leads to degree subject to scheme margin. (Priority
Studies} guidelines. Repayment Sector
 Minor Student If loan amount Maximum 180 months excluding Advances) &
represented by  Vidya Turant (IIMs / IITs / NITs / IISC moratorium period. to be
parent/guardian / ISBs &other premier institutes in 2.Vidya Shakti: Margin returned after
 Major student jointly India) Upto Rs 4.00 lacs-Nil availment of
with parent/guardian Maximum eligible amount Rs 40.00 Above 4.00 lacs- 5% loan.
 Student should have lacs subject to scheme guidelines. Security: If loan
secured admission to a  Vidya Sahay (Bridge Loans to  Assignment of future income sanctioned &
higher education course students for counselling at CET of student not availed by
in recognized centres)  Loans sanctioned for the borrower
institutions in India or Maximum eligible amount would Vocational/Certificate/Diplom then
Abroad through be Rs.1 Lakh or initial payment a has to mandatorily covered processing
Entrance Test/Merit as proposed by the CET Authorities under CGFSSD guarantee charges to be
Based Selection process whichever is less. scheme. absorbed by
after completion of HSC  Loans sanctioned for Degree the Bank.
(10 plus 2 or equivalent). Courses has to mandatorily
 Other criteria subject to under CGFSEL guarantee
eligibility as per scheme.
Education Loan scheme Repayment :
guidelines.  For Vocational & Skill
Development 3 -7 years
excluding moratorium period.
 For degree maximum 180
months excluding moratorium
period.
3.Vidya Turant: Margin : Nil
Security:
 For IIMs upto Rs 25.00 Lacs-NIL
 For ISBs upto Rs 40.00 Lacs-NIL
 For others upto Rs 20.00 lacs-NIL
Note- Loans beyond the limits
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Sl. Scheme Purpose Eligibility Quantum Terms & Conditions Processing
No. Charges
mentioned above are to be sanctioned
under IBA‘s Model Education Loan
scheme duly adhering to the security
and other applicable guidelines.
Repayment
Maximum 180 months excluding
moratorium period.
4.Vidya Sahay:-
Margin : Nil
Security : Nil
Repayment :
To be cleared after sanction of regular
Education Loan

EMBARGO ON BRANCHES TO SANCTION LOAN UNDER RETAIL LENDING SCHEMES:

1. In respect of Branches mapped to RAHs for sanctioning Mortgage Based Retail Loans
 Branches mapped to RAHs having NPA levels of more than 5% under any Mortgage based loans have NO powers to sanction the loans under these schemes.
 Circle Heads are authorized to permit RAHs to sanction Retail Mortgage based Loans and have to review all mapped Branches to RAHs on quarterly basis duly
analyzing the delinquency /NPA levels before permitting such RAH
2. (a) In respect of Branches mapped to RAHs for sanctioning other than Mortgage based Retail Loans
(b) In respect of Branches not mapped to RAHs for sanctioning of all Retail Loans
 Branches having NPA levels of more than 5% under any Retail Lending Schemes have NO powers to sanction the loans under these schemes. The above
proposals have to be sanctioned by RO HEAD CAC & above authorities upto their respective Delegated Powers.
 However, Circle Heads are authorized to permit select Branches/RAHs to sanction Retail Loans despite their NPA under Retail Loans being more than 5% by
analyzing details of Overdues/NPAs, steps initiated in reduction of overdues/NPAs and justification for the same.

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