Home » Canara Bank Business Loan
Canara Bank logo

Canara Bank Business Loan

Canara Bank is an Indian origin bank which was established in the year 1906. The bank has been making profits from the very year of its inception. Canara Bank provides a wide range of financial products and services to its customers to help them meet their financial requirements. If you are planning to set-up your own business or expand your old business to reach the new heights of success then Canara Business Loan can easily fulfill all your financial requirements.

Canara Bank offers multiple types of business loans to meet the varying requirement of the business. The best part is that the loan is available in huge quantum at quite a low rate of interest. The funds are made instantly available in just a few days, so if you are planning to apply for a business loan then Canara Bank is one of the best options for you.

Apply Business Loan

Please enter your NamePlease enter valid Name
Please enter a valid email addressPlease enter your email address
Please enter a valid mobile numberPlease enter your mobile number
Please Select Office Type
Please Select House Type
Please enter a valid Company Name
Please answer the above question
Please enter your inhand salary.Minimum annual income is requiredMinimum turnover income is required

Why Canara Business Loan is the Best Option for You?

Canara Bank provides you with some of the best business loan options and makes the funds available in just a few clicks. In addition, there are multiple other reasons, which make the Canara Bank business loan one of the best loan options. Let’s know some other reason:-

  • Interest rates starting from 10% only
  • Loan up to 1Cr.
  • Loan available to medium as well as small enterprises
  • Quick application process
  • Repayment tenure extending up to 7 years
  • No need of collateral
  • Funds disbursed in 2 days
  • Processing fee only up to 1%
  • Easy documentation procedure

Canara Bank Business Loan Interest Rate

Salaried Individual

Loan Amount

Starting From Rs. 50,000 up to Rs. 25 lakhs

Interest Rate

10.99% - 20.00%

Loan Tenure

12 to 60 months

Processing Fee

2.50%, Minimum Rs. 1,000 Maximum Rs. 25,000

Foreclosure Charges

Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%


21 years up to 60 years

Key Highlights of Canara Bank Business Loan

Canara Bank easily offers high quantum business loan in just a few days, so you can easily meet your urgent business requirement. The best part is that there is no restriction on the usage of the loan amount provided by the bank, so you can easily meet your planned as well as unplanned business expenses for the growth of your business.

Canara Bank Business Loan is available at highly competitive interest rates and the special schemes provided from time to time make it an affordable option for the borrowers. Below given are some of the key highlights of the Canara Bank business loan which make it one of the most preferred loan options these days.

Loans available to all

Canara Bank Business Loan is easily available to medium-sized as well as small enterprises. So, you can easily get the loan to meet your business expenses independent of the size of your enterprise.

Easy funds up to 1Cr

If you are planning to expand your business or have any heavy capital expenditure then Canara Bank loans can prove to be the best option as loan up to 1Cr is easily available in just a few days

Apply in just clicks

You can easily apply for the loan online in just a few clicks by filling the digital form. The entire loan process is hassle-free and time-saving as it is conducted online.

Get a loan at low rate of interest

The best part is that the loan is available at a highly competitive rate of interest which starts just from 10%, so you can enjoy huge funds at affordable rates.

Low loan processing charges

The loan processing charges are also very low and only range up to 1% of the total loan amount.

Collateral not needed

You need not provide any collateral to the bank for the approval of your loan application. This makes the funds available instantly with minimal documentation.

Repay slowly up to 7 years

You can easily repay the loan in small monthly EMIs based upon your income as the repayment tenure can be extended up to 7 years.

Cash available in just 2 days

Once your loan application is approved by the bank, the loan amount is disbursed into your account within 2 days only.

Paperless documentation

The entire loan process is completed online, so the documents verification and submission is also completed instantly in clicks.

Canara Bank Business Loan Fees & Charges

Loan Processing Fees Up to 2.50% of loan amount, Rs 1,000 to 25,000
Pre-payment Charges 4% of principal outstanding - 13 to 24 months,
3% of principal outstanding – 25 to 36 months
2% of principal outstanding - >36 months
Penalty for late EMI payment 24% per year on outstanding amount From default date
Eligibility Criteria

Know the Eligibility Criteria for Canara Business Loan

If you are planning to apply for a business loan from Canara Bank, then your first step should be to check your eligibility. Here are the eligibility criteria to apply for Canara Bank Business Loan, scroll down and check your eligibility:-


If you are applying for Canara Bank Business Loan, then your minimum age should be 21 years and your maximum age can be 65 years (at the maturity of the loan.)


You should fall in the category of Proprietor, Private Ltd. Co., Self-employed individual or a Partnership Firm.


If you are an individual then you should be running your current business for at least 3 years.


Your annual income or turnover from your business should exceed the minimum annual turnover or income requirements.

What are the Documents Required for Canara Business Loan?

Documentation process forms an eminent part of loan approval process. Every borrower needs to provide a set of documents in order to get the business loan approved by the bank. Let’s know the documents required by Canara Bank for the loan approval:-

  • Address Proof – Driving License/Passport/ID Card/Aadhaar Card

  • PAN Card – PAN Card of Individual/Firm/ Company is required

  • ID Proof – Passport/ID Card/Driving License/Aadhaar Card/PAN Card

  • Income Proof – Copy of latest ITR with P&L statement and balance sheet

  • Statement of Bank – You are required to provide a bank statement for last 6 months

Documents Required

What are Benefits of Applying for a Loan at Rupee Station?

If you want to experience a quick and hassle-free loan process then apply for Canara Business Loan at Rupee Station. Our aim is to make the loans easily and instantly available to the borrowers. We have a dedicated team of financial experts who review your loan application and provide you the best financial advice.

We have recently collaborated with Canara Bank to make the exclusive loan offers available to you in just a click. You can easily enjoy the latest loan schemes and the lowest interest rates offered by the Canara Bank just in a few clicks by applying through Rupee Station. There are numerous other benefits associated with Rupee Station, have a look –

Apply in a minute

At Rupee Station, you just need a minute to apply for the business loan as you are just required to fill our digital loan application form available at our website.

Instant approval of loan

We share an exclusive collaboration with different banks, and thus your loan applications get approval in just a few days.

Funds available within 2 days

We make the funds available within 2 days only, so that you can easily meet your instant fund requirements.

Assistance of financial experts

Our team of highly experienced financial experts will provide you the best piece of financial advice based on the details provided by you. In addition, they also suggest you some of the best loan options which suit your requirement and financial position.

Know the status of your application

At Rupee Station; you can easily get to know the status of your application online in just a few minutes as we provide real-time tracking of the loan application.

Steps to Get a Business Loan in Just a Minute

The process of applying for Canara Bank Business Loan has become a minute’s task with Rupee Station. Below listed are the easy steps of applying for a business loan, have a look:-

Step 1

Submit the loan application form available at our website.

Step 2

Get a call from our financial expert and provide other required information.

Step 3

Get the cash in your account in just 2 days.