Canara Bank Housing Loan Housing loan Scheme Criteria: 1. Construction, Purchase, Repairs, Additions & Renovations of your house. 2. Purchase of land & construction thereon 3. Take over of the housing loan liabilities with other banks & financial institution Housing loan to employees of central & state govt. / PSU's & autonomous bodies against paripassu or second charge for the above said purpose Special Features: Low interest rates Interest is calculated on daily reducing balance No penalty for pre-payment / pre-closure except in case of takeover of loans by other banks No hidden charges Hassle-free documentation It benefit up to Rs.1.5 lack on HL interest & Rs.100000/- towards installments paid Insurance coverage Free credit card (for loans over Rs 2 lack) Eligibility: Salaried Individuals, individuals engaged in business/professionals/self-employed persons and NRIs Eligible loan amount: four years gross annual income List of Documents generally required for Housing Loan For Construction of House: Title deeds of the property Prior title deeds for a period of at least 13 years Encumbrance certificate for the past 13 years Khatha certificate Up-to-date tax paid receipts of the property Sanctioned plan and license Estimate of cost of construction from a qualified engineer Legal scruitiny report from our bank's panel advocate For Purchase of Flat or House: Original sale deed executed by the builder in favor of the purchase Title deeds of the builders/landlords for a period of 13 years Development agreement between the builder and the land owner is applicable Agreement of sale/construction agreement with the applicant Sanctioned plan and license from competent authority Encumbrance certificate for the past 13 years Khatha certificate in the name of builders/owners Up-to-date tax paid receipts of the property Sketch of the flat No objection certificate from builders Legal scrutiny report from our bank's panel advocate Agreement of sale of propriety Title deeds of the vendor for the past 13 years Encumbrance certificate for the past 13 years Khatha certificate in the name of vendor Sanctioned plan of the house Valuation report from an approved valuer on banks panel For Repairs / Renovations / Extension of House: Title deeds of the property Prior title deeds for a period of at least 13 years Encumbrance certificate for the past 13 years Khatha certificate in the name of the vendor Up-to-date tax paid receipts of the property Sanctioned plan and license for extension Estimate of extension/renovation/repairs from a qualified engineer Legal scrutiny report our banks panel advocate Take over of Housing Loan: Outstanding statement Statement of account from the date of sanction No objection letter for delivery of original documents of EMT to the bank Copy of all the documents to obtain legal scrutiny report from our banks panel advocate Other Requirements: Income Proof Salaried class Latest salary certificate with details of deductions from the employer IT A O /form 16 Self employed / Business class Balance sheet and profit and loss account for the last three years Income tax assessment orders and returns for the last three years Brief note on the nature of business, year of establishment, present bankers