Canara Bank Business Loans | Apply Now

Canara Bank offers Business loans in the form of MSME loans. Many people have the desire of starting a business or, if they already have one, of expanding and improving it. Everyone, whether they are SMEs or multinational corporations, will require funds at some point in their lives. Banks such as Canara Bank offer Business loans specifically for this purpose.

Features and Benefits 

  • The loan amount ranges from Rs. 50,000 to Rs. 10 crore with ternure up to 7 years with interest rates starting at 10.50% per annum. 
  • Loan Prosessing fee charges are 1% of loan amount. 
  • Provide loan for purpose like Expanding business, purchase equipments, purchase plant&machinery, to increase working capital requirement, improve credit history, to manage cash flow, for day-to-day cash requirements. 
  • Credit score of company or individual is important to apply business loan. 
  • Canara Bank offers you various repayment mode i.e, are EMI directly debit from your bank account, Electronic clearing service means you give bank authority to debit the account from your bank account.
  • Also accept post dated cheques for loan repayment. 
  • To encourage women entrepreneurs provide affordable and comparatively less interest rates for womens. 

Top Trending topics

Top 13 Business Loan Providers in India – Checkout
Top 11 instant App Loan providers in India – Checkout

Loan Details

1Minimum Loan AmountRs. 50,000
2Maximum Loan AmountRs. 10 crores
3Interest Ratestarts at 10.50%
4Tenureup to 7 years
5Processing Fee1% of loan amount + Tax

Eligibility Criteria of Canara Bank 

  • Indian Citizen 
  • Self employed individuals 
  • Private companies 
  • Proprietors
  • Partnership firms
  • In business of Services, Trading or Manufacturing 
  • Minimum business life 3 years 
  • Minimum age to apply 21 years 
  • Not older than 65 years at loan maturity time. 

Documents Required 

  • Aadhar card 
  • Passport 
  • Voter Id card 
  • PAN card 
  • Driving License 
  • Address proof (utility bill/any government verified document/ ID card)
  • Bank statements of past 6 months 
  • ITR with computation of Income. 
  • CA audited balance sheet and Profit and loss account 
  • Documents related to your firm or company 
  • Business Proof, proof of continuation of business 

How to apply for business loans with Canara bank? 

There are two ways to apply i.e., Online and Offline 


  • Visit Canara Bank website 
  • Click on apply for loans 
  • Choose the type 
  • Fill the required details 
  • Complete your KYC
  • Upload your documents 
  • Submit your application 
  • Bank will contact you further regarding your application.


  • You can visit the nearest branch of canara bank, with all the documents required. There professional assistants will help you to apply for the loan. 

Canara Bank Contact Details 

Call – 1800 425 0018 / 1800 3011 3333

Email –

Official Website – Canara Bank 


1] Do collater required for Canara bank business loan? 

Yes, collateral security is required 50% of the loan amount in the form of property, land securities, or bank deposits.

2] Do canara bank provide loan under Pradhan Mantri Mudra yojana? 

Yes, Canara bank provides loans under Pradhan Mantri Mudra Yojana(PMMY). To know more about PMMY “click here”

3] What is Canara Bank’s maximum loan amount for start-ups?

Canara Bank’s maximum loan amount for a start-up is Rs. 2 crores.

4] What are the different types of loans available?

Canara Bank provides three types of loans: term loans, working capital loans, and Pradhan Mantri Mudra Yojna loans (PMMY).

5] What are Canara Bank’s current interest rates?

Canara Bank’s MSME loan interest rates are decided by the bank as per the applicant’s profile and business requirements.

Leave a Comment