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Home > Home Loan > Canara Bank Home Loan > Canara Bank Home Loan for NRIs | Check Interest Rates, EMI, Eligibility, Processing Fees, and Documents Required

Canara Bank Home Loan for NRIs | Check Interest Rates, EMI, Eligibility, Processing Fees, and Documents Required

April 30, 2025
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Looking to buy or build a home in India while living abroad? Canara Bank’s Home Loan for NRIs offers convenient and flexible financing options tailored for Non-Resident Indians. In this blog, we’ll walk you through the interest rates, EMIs, eligibility, fees, and documents you need to get started.


Canara Bank Home Loan for NRIs Highlights

CategoryDetails
Interest RateStarting from 8.05% p.a.
Loan TenureUp to 30 Years
Processing Fee0.50% of the loan amount (Min ₹1,500 – Max ₹10,000) + GST

Check Out: Canara Bank Home Loan


Canara Bank Home Loan for NRIs Interest Rates 2025

Canara Bank Home Loan for NRIs interest rates are structured based on the applicant’s Credit Risk Grade (CRG). The effective interest rates are as follows:

Credit Risk Grade (CRG)Effective Interest Rate (per annum)
CRG-PRIME8.05% p.a. onwards
CRG 18.05% p.a. onwards
CRG 28.35% p.a. onwards
CRG 39.25% p.a. onwards
CRG 410.75% p.a. onwards

For more detailed information, please visit the official Canara Bank Home Loan for NRIs page.


Canara Bank Home Loan for NRIs Eligibility Criteria

Before applying for a Home Loan for NRIs, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by Canara Bank.

CriteriaDetails
Eligible ApplicantsNon-Resident Indians (NRIs) holding a valid Indian passport and Persons of Indian Origin (PIOs) holding a foreign passport.
Age LimitMinimum: 21 years,
Maximum: 60 years at the time of loan application.
Employment StatusSteady income source with a minimum of 2 years of employment abroad under a valid job contract or work permit.
NRI Status DurationShould have maintained NRI status for at least 3 years.
Joint ApplicantsSpouses and close relatives of NRIs who residents are can join as co-applicants.
Eligible PropertiesLoans are sanctioned only for non-agricultural properties with valid documents for usage for housing or non-agricultural purposes.

For more detailed information, please refer to Canara Bank’s official website.

Check Out: Canara Bank Home Loan Eligibility Calculator


Canara Bank Home Loan for NRIs Processing Fees

Applicant TypeProcessing Fee
Individuals & Non-Individuals0.50% of the loan amount, with a minimum of ₹1,500 plus GST and a maximum of ₹10,000 plus GST.

Guarantee of suitable Resident Indian acceptable to Bank

For more detailed information, please visit the official Canara Bank Home Loan for NRIs page.


Canara Bank Home Loan for NRIs Other Fees and Charges

Here are the Other Fees and Charges associated with the Canara Bank Home Loan for NRIs:

Charge TypeDetails
Processing Fee0.50% of the loan amount
Minimum: ₹1,500 + GST
Maximum: ₹10,000 + GST
Retail Loan Festival Offer50% waiver on processing charges from April 1 to June 30, 2025
Prepayment ChargesNo prepayment penalty for housing loans with floating interest rates, even if the loan is taken over by other banks or housing finance institutions.
Documentation ChargesNot explicitly specified, may vary based on loan amount and bank policies
Stamp Duty & RegistrationAs per state laws, to be borne by the borrower
Legal & Valuation ChargesApplicable as per actuals, to be borne by the borrower

Source: Canara Bank Home Loan for NRIs.

Read More: Canara Bank Home Loan Processing Fees and Other Charges


Canara Bank Home Loan for NRIs Documents Required

The list of Documents required for the Canara Bank Home Loan for NRIs:

CategoryDocuments Required
Application FormDuly filled with 2 passport-size photos
Identity ProofPassport (first 4 pages), PAN Card, Aadhaar (if available), Visa/PIO/OCI card
Address ProofUtility bill, Passport, Aadhaar, or Driving License
Income Proof– For salaried: Last 3 months’ salary slips, employer certificate, overseas bank statements
– For self-employed: Last 3 years’ ITRs, Balance Sheet, Profit & Loss, business proof
NRI Specific DocsValid work permit or employment contract, embassy/consulate attested salary certificate
POA (if applicable)Notarized Power of Attorney in favor of a resident Indian
Property DocumentsSale deed, title deed, encumbrance certificate (13 years), approved building plan, tax receipts
Bank StatementsLast 6 months’ NRE/NRO account and overseas account statements

For the most accurate and updated information, please refer to Canara Bank’s official website.

Read More: Canara Bank Home Loan Documents Required


How to Apply to Canara Bank Home Loan for NRIs?

Time needed: 3 minutes

To apply for the Canara Bank Home Loan for NRIs online, follow these steps:​

  1. Visit Website

    Go to Canara Bank NRI home loan official website to explore loan features and eligibility.

  2. Check Eligibility & Prepare Documents

    Ensure you meet the criteria (NRI/PIO with stable income) and gather required documents like passport, visa, income proof, NRE/NRO bank statements, and property papers.

  3. Download & Fill Application Form

    Get the form from the Download Center, complete it with accurate details.

  4. Submit at Branch

    Submit the filled form and documents at your nearest Canara Bank branch or authorize a Power of Attorney holder in India to do so.

  5. Loan Processing

    The bank verifies your documents, assesses eligibility, and on approval, finalizes the loan sanction and disbursement.

Also Read: Online vs Offline Home Loan Application in India: Which is Better?


Canara Bank Home Loan: Other Products

Canara Bank offers multiple home loan schemes, each with its own interest rate structure and features.

Home Loan SchemeInterest Rate
Canara Bank Housing Loan8.05% p.a. onwards
Canara Bank Housing Cum Solar Loan8.05% p.a. onwards
Canara Bank Kuteer Loan8.05% p.a. onwards
Canara Bank Housing loan to Agriculturists8.05% p.a. onwards
Canara Bank Home Loan for NRIs8.05% p.a. onwards
Canara Bank Approved Housing Projects8.05% p.a. onwards

Source: Canara Bank Official Website – Interest Rate Circular

Check Out: Canara Bank Home Loan Interest Rates 2025


Compare Home Loan Interest Rates by Top Banks

BankUp to Rs. 30 LakhAbove Rs. 30 Lakh to Rs. 75 LakhAbove Rs. 75 Lakh
SBI Bank8.00% p.a. onwards8.00% p.a. onwards8.00% p.a. onwards
HDFC Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
LIC Bank8.50% – 10.35% p.a.8.50% – 10.55% p.a.8.50% – 10.75% p.a.
ICICI Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
Kotak Mahindra Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
Punjab National Bank8.50% – 11.05% p.a.8.50% – 11.05% p.a.8.50% – 11.05% p.a.
Bank Of Baroda8.40% onwards8.40% – 10.65% p.a.8.40% – 10.90% p.a.
Bajaj Housing Finance8.50% p.a. onwards8.50% p.a. onwards8.50% p.a. onwards
Axis Bank8.75%-10.30% p.a.8.75%-10.30% p.a.8.75%-10.30% p.a.
Bank of India8.40% p.a onwards8.40% p.a onwards8.40% p.a onwards
TATA Capital8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
The interest rates, maximum tenures, and other charges are subject to change, and it’s advisable to check with our experts for the most current information.

Conclusion

Canara Bank Home Loan for NRIs offers a reliable and flexible way for Indians abroad to invest in a home back in India. With competitive rates and easy processing, it’s a smart choice for secure property ownership.

For personalized assistance with your home loan, consider scheduling a free consultation call with Credit Dharma today.


Frequently Asked Questions

Who is eligible for Canara Bank’s NRI Home Loan?

Non-Resident Indians (NRIs) holding a valid Indian passport and Persons of Indian Origin (PIOs) with a foreign passport are eligible. Applicants should be between 21 and 60 years old and have a minimum of 2 years of employment abroad with a valid job contract or work permit.

What is the repayment tenure for NRI home loans?

The repayment period can extend up to 30 years or until the borrower reaches 70 years of age, whichever is earlier.

What are the interest rates applicable?

Interest rates for Canara Bank NRI Home Loans start from 8.75% per annum. The exact rate depends on the applicant’s credit profile and loan amount.

Are there any processing fees or charges?

Yes, a processing fee of 0.50% of the loan amount is applicable, with a minimum of ₹1,500 and a maximum of ₹10,000, plus GST.

What documents are required to apply for this loan?

Applicants need to submit:
– Duly filled loan application form with passport-size photographs.
– KYC documents (Proof of Identity and Address).
– Income proof (salary slips, bank statements, ITRs).
– Property-related documents (title deeds, tax receipts, approved plans).

Can NRIs apply for the loan online?

Yes, NRIs can initiate the application process online through the official Canara Bank website. However, the submission of physical documents may be required at a later stage.

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