Canara · public sector bank
Canara Bank home loan interest rate today
Canara Bank publishes home loan interest rates from 7.40% for new loans (checked 18 Oct 2026). Its floating rate follows the RBI repo rate, now 5.50%. To move an existing loan to a lower rate with Canara, the fee is about ₹29,500 with GST on a ₹50 lakh loan, an estimate: Canara does not publish it.
Checked 18 Oct 2026 · Canara's rate page
- Rate for new loans
- From 7.40%
- On Canara's site
- RBI repo rate
- Follows it
- Repo now 5.50%
- Fee to lower rate
- ₹29,500 est.
- ₹50 lakh loan, with GST
- Checked
- 18 Oct
- 2026
Rates for new loans
- CRG-Prime / CRG-1 (loans up to ₹50 lakh) (7.50% for women borrowers)7.55%
- CRG-27.95%
- CRG-38.75%
- CRG-410.25%
Source: canarabank.bank.in · checked 18 Oct 2026 · from the official website
How the rate moves
Canara's floating home loan rate follows the RBI repo rate through its RLLR (Repo Linked Lending Rate), so it moves when the RBI changes the repo rate.
RLLR is 8.25% from 9 Oct 2026. Canara prices housing loans by its own credit risk grade (CRG), not by credit score band.
How to ask Canara for a lower rate
If you already have a loan with Canara, you can ask it in writing to move you to its current rate. It is a request, and the lender decides.
- Apply at your Canara Bank branch for a revision of the margin over RLLR on your housing loan.
- Ask for written confirmation of the fee and an SR number.
These steps are what borrowers report; Canara's own site does not set them out. Ask your branch to confirm.
The fee: about ₹29,500 with GST on a ₹50 lakh loan. Not published on the pages checked. Figures are indicative; ask the branch for the written fee.
Paying off early
For loans sanctioned or renewed on or after 1 January 2026, no bank, NBFC or housing finance company may charge for part or full pre-payment of a floating-rate loan taken by an individual for non-business purposes, whatever the source of funds and with no lock-in. Older floating-rate home loans were already protected by RBI's 2012 and 2014 circulars (banks) and NHB directions (HFCs). Any charge not written in your sanction letter or Key Facts Statement cannot be levied.
Where to complain
Complain to Canara first and keep the reference number it gives you.
If there is no reply within 30 days, or the reply does not satisfy you, you can complain to the RBI Ombudsman for free within 90 days after that (or after the lender's last reply, if later): online at cms.rbi.org.in, by email to [email protected], or by post.
After Canara, the next step is the RBI Ombudsman. It is free and you do not need a lawyer.
Questions people ask
What is Canara Bank's home loan interest rate today?
Canara Bank publishes home loan interest rates from 7.40% for new loans (checked 18 Oct 2026). The rate you get depends on your credit score and loan, and Canara decides the final rate.
Does Canara Bank's home loan rate change when the RBI changes the repo rate?
Canara's floating home loan rate follows the RBI repo rate through its RLLR (Repo Linked Lending Rate), so it moves when the RBI changes the repo rate. RLLR is 8.25% from 9 Oct 2026. Canara prices housing loans by its own credit risk grade (CRG), not by credit score band.
How do I get a lower rate on my existing Canara Bank home loan?
Ask Canara in writing to move your loan to its current rate. Apply at your Canara Bank branch for a revision of the margin over RLLR on your housing loan. Ask for written confirmation of the fee and an SR number. The fee is about ₹29,500 with GST on a ₹50 lakh loan, an estimate: Canara does not publish it. A lower rate is a request: the lender decides.
Can Canara Bank charge me for paying off my home loan early?
No, not on a floating-rate home loan. For loans sanctioned or renewed on or after 1 January 2026, no bank, NBFC or housing finance company may charge for part or full pre-payment of a floating-rate loan taken by an individual for non-business purposes, whatever the source of funds and with no lock-in. Older floating-rate home loans were already protected by RBI's 2012 and 2014 circulars (banks) and NHB directions (HFCs). Any charge not written in your sanction letter or Key Facts Statement cannot be levied.
Where do I complain if Canara Bank does not reply?
Complain to Canara first through its complaints page ([email protected]). If there is no reply within 30 days, or the reply does not satisfy you, you can complain to the RBI Ombudsman for free within 90 days after that (or after the lender's last reply, if later): online at cms.rbi.org.in, by email to [email protected], or by post.
Compare with other lenders
- Bank of Barodafrom 7.40%
- Punjab National Bankfrom 7.45%
- State Bank of Indiafrom 7.50%
- Union Bank of Indiafrom 8.35%
Moving your loan to Canara from another lender: a processing fee of about ₹10,030 with GST on a ₹50 lakh loan, an estimate: Canara does not publish it, plus stamp duty in some states.
Words on this page
- RBI repo rate:
- the rate the Reserve Bank of India sets for lending to banks. Many home loan rates move with it.
- RLLR:
- Repo Linked Lending Rate: a bank rate that follows the RBI repo rate.
- SR number:
- service request number: the reference the bank gives your request. Keep it.
- GST:
- Goods and Services Tax: 18% on bank fees.