Canara Bank, India’s leading public sector bank, offers customized loan solutions tailored to individual needs. Founded in 1906 as ‘Canara Bank Hindu Permanent Fund’ by Shri Ammembal Subba Rao Pai, the Bank has grown steadily and is now a leading financial institution in the country. With over 9,877 branches and 13,124 ATMs, Canara Bank has assets of Rs.13.81 lakh crore (US$170 billion). Its growth trajectory has been phenomenal, especially since its nationalization in 1969.
Canara Bank offers a full range of banking, investment management, and other financial products and services to individuals, small and middle-market businesses, large corporations, and governments. These include commercial and consumer loans, agricultural finance, mortgage banking, equipment leasing, life insurance schemes, deposit services, cash management services, card products, IPO monitoring services, transaction services, and consulting services.
In addition to its nationwide presence, Canara Bank has established offices in key global locations such as London, Hong Kong, Moscow, Shanghai, Doha, Bahrain, South Africa, Dubai, Sharjah, Tanzania, and New York. Through these well-connected channels and a diverse portfolio of services, Canara Bank continually strengthens its position as a trusted partner, providing comprehensive financial solutions to meet the ever-evolving needs of its esteemed and digitally savvy customers.
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Loans offered by Canara Bank
| Canara Bank Loans | Features |
Canara Bank Home Loan | Interest Rate: 8.5% – 11.25%Loan Amount/Tenure: ₹10L – ₹50L Tenure (1 – 30 Years) Processing Fee: Up to 1% of the loan amount |
Canara Bank Business Loan | Interest Rate: 9.5% – 11.55% Loan Amount/Tenure: ₹50K – ₹20Cr Tenure (1 – 10 Years) Processing Fee: Up to 75% of applicable charges |
Canara Bank Personal Loan | Interest Rate: 10.95% – 16.4%Loan Amount/Tenure: ₹1L – ₹10L Tenure (0 – 1 Years) Processing Fee: Up to 0.50% of the loan amount (Rs 1,000 to Rs 5,000)- 50% off on processing fee |
Canara Bank Loan Against Property | Interest Rate: 10.3% – 12.8%Loan Amount/Tenure: Up to ₹10CrTenure(Up to 15 Years) Processing Fee: Up to 1% of the loan amount with a minimum of Rs 5,000 |
Features and Benefits of Canara Bank
Below are some noteworthy features and benefits of Canara Bank:
Attractive Interest Rates
Canara Bank is a leading public sector bank in India. It offers competitive interest rates on various products, such as loans, fixed deposits, recurring deposits, and savings accounts. The bank also provides differential interest rates for segments such as senior citizens, women, and rural customers.
Extensive Branch Network
With over 9,877 branches across India, Canara Bank provides convenient access to banking services for customers, ensuring they can receive in-person assistance, conduct transactions, and seek guidance from banking professionals.
Zero-balance savings account
Canara Bank offers zero-balance savings accounts with a free RuPay debit card, internet banking, mobile banking, SMS alerts, and a free passbook. These accounts provide essential banking services without a minimum balance, making them attractive to those seeking flexibility.
Diversified portfolio
Canara Bank offers a diverse portfolio of products and services, including loans, deposit schemes, cards, insurance, mutual funds, forex services, NRI services, MSME services, agriculture services, and more. The bank also has subsidiaries and joint ventures covering asset management, securities, factoring, housing finance, and credit information.
Digital Banking
The bank’s digital banking platform offers a wide range of services, including online banking, mobile banking, UPI, IMPS, Bharat Bill Pay, BHIM Aadhaar Pay, RTGS, NEFT, e-KYC, e-passbook, e-statement, e-tax payment, e-mandate registration, e-NPS contribution, e-FASTag application, and more. These cutting-edge digital solutions enable customers to manage their finances and conduct transactions conveniently, ensuring they can manage their finances anytime and anywhere.
ATM Facilities
Canara Bank has over 13,124 ATMs nationwide, offering 24-hour cash withdrawals, balance inquiries, and other essential services. This enhances customers’ convenience and flexibility, helping them meet their banking needs without visiting a bank branch.
Financial Inclusion
Canara Bank is committed to financial inclusion, making financial products and services accessible and affordable to all individuals and businesses. The Bank has opened over nine crore accounts under various government schemes, including the Pradhan Mantri Jan Dhan Yojana (PMJDY), which provides essential banking services to the underbanked population.
Canara Bank also participates in various government schemes, such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and Stand Up India Yojana, which aim to provide social security and financial empowerment to underprivileged individuals.
The Bank has a robust global presence, providing banking services to renowned international financial centers such as London, Hong Kong, Moscow, Shanghai, Doha, Bahrain, South Africa, Dubai, Tanzania, and New York.
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Security and Risk Management
Canara Bank prioritizes the safety of its customers’ funds and investments through robust security measures, advanced technology, and stringent risk management practices. This ensures the safety and integrity of customer funds, thereby providing peace of mind and confidence to its valued customers.
Customer Service
The bank also has a dedicated customer service team available 24/7 via toll-free numbers, email, and social media platforms, ensuring fair and courteous behaviour. Additionally, a grievance redressal mechanism allows customers to lodge complaints and have them resolved promptly and satisfactorily.
Products offered by Canara Bank
Canara Bank offers many products to meet its customers’ banking needs. Here are the major products offered by the bank.
Investments
Canara Bank is dedicated to providing the best investment solutions to help customers improve their future and achieve their financial goals. Canara Bank offers a solution to help you achieve your financial goals, grow wealth, or save for retirement. Some of the critical investment products provided by Canara Bank are as follows:
- Public Provident Fund
- Systematic Investment Plan (SIP)
- Gold Exchange-Traded Funds (ETFs)
- Post Office Monthly Income Scheme
- Senior Citizen Savings Scheme
- Mutual Funds
- Sovereign Gold Bonds (SGBs)
- Atal Pension Scheme
- Equity Mutual Funds
- National Pension Scheme
Insurance
Canara Bank offers a variety of insurance solutions through partnerships with top insurance companies. These insurance options provide protection and financial stability to people and their assets. These are some of the popular insurance plans that Canara Bank offers:
- Life Insurance
- Debit Card Insurance
- Property Insurance
- Commercial Insurance
- Health Insurance
- Asset Insurance
- Motor Insurance
- Jeevan Nivesh Plan
- Travel Insurance
Loans
Canara Bank offers a wide range of loans with affordable interest rates, large loan amounts, flexible repayment schedules, simple paperwork, and quick loan processing. Whether through online or physical channels, customers can easily avail themselves of this opportunity, allowing both individuals and enterprises to achieve their financial ambitions. The loan categories offered by Canara Bank are as follows:
- Gold Loan
- Travelling Loan
- Personal Loan
- Vehicle Loan
- Agriculture Loan
- Education Loan
- Housing Loan
- Business Loan
- Salary-based Loan
Cards
Canara Bank offers various cards to suit customers’ needs and preferences. The benefits of these cards include no annual fees, reward points, cashback, discounts, lounge access, insurance coverage, and more. The card products offered by Canara Bank are as follows:
- Debit Cards
- Prepaid Cards
- Credit Cards
Bank Accounts
Canara Bank accounts allow customers to save money consistently and earn competitive interest rates on their deposits. The bank offers a range of bank account options, each thoughtfully designed to help customers achieve their particular financial objectives and safeguard their future. Generally, Canara Bank offers the following types of bank accounts:
- Salary account
- NRI accounts
- Current Account
- Recurring deposit account
- Savings Account
- Fixed deposit account
Services Offered by Canara Bank
These are the many services that the bank offers to its customers.
NRI Services
Canara Bank offers a wide range of specialized services to Non-Resident Indians (NRIs). These services include loan applications from Canara Bank, NRI accounts, remittances, NRI deposits, and customized investment options based on NRIs’ needs.
Government and Institutional Banking
For their banking needs, Canara Bank offers services to various institutional clients, government agencies, and public sector undertakings (PSUs). These services include project funding, cash management, financial operations, and customized solutions for public agencies.
Services for Wealth Management
Wealth management is an aspect of financial services that helps customers manage their money. It offers detailed financial advice, efficient financial planning, investment guidance, portfolio management, estate and tax preparation, and legal consultation. These services often target individuals and corporations and emphasize generating and protecting wealth.
International Banking
To meet its customers’ worldwide financial assistance demand, Canara Bank offers a full range of globally integrated international banking services. These include foreign exchange solutions, trade finance assistance, correspondent banking services, efficient remittance options, and international money transfer facilities.
Premium Payroll Packages
Canara Bank offers premium payroll packages to salaried employees of elite corporations. These packages include attractive features such as complimentary air accident insurance, personal accident insurance, term life insurance, free demand drafts, chequebooks, and Rupay Platinum debit cards. There is also a discount on processing fees and locker rent for Canara Bank loans.
Additional Services
To meet its customers’ demands, Canara Bank also offers merchant services, e-commerce payment gateways, safe deposit lockers, pension services, and much more.
Canara Bank Corporate Office Contact Details
- Corporate Office Address: Canara Bank, Head Office, No. 112, J C Road, Bengaluru – 560 002, Karnataka, India
- Phone Number: 080-22100250
- Email ID: [email protected]
Contact Information for Authorized Personnel
Chief General Manager / General Manager, S P & D Wing
- Phone: 080-22104375
- Email: [email protected]
Chief General Manager & CFO, F M & S Wing
- Phone: 080-22249989
- Email: [email protected]
General Manager / Deputy General Manager & Secretary to the Board
- Phone: 080-22100250
- Email: [email protected]
