Canara vs Bajaj Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed:
A ledger-columns read on Canara Bank and Bajaj Housing Finance— rate, EMI, fee, fine print. Which one wins your file, not the pitch deck.
Canara vs Bajaj — Balance Transfer Comparison
Key parameters compared side by side.
| Parameter | Canara | Bajaj |
|---|---|---|
| Interest Rate (p.a.) | 8.3% – 9.1% | 8.35% – 9.25% |
| Processing Fee | 0.50% (max Rs 10,000) | 0.50% (max Rs 10,000) |
| Max Loan Amount | Rs 5 Cr | Rs 5 Cr |
| Max Tenure | 30 Years | 30 Years |
| Bank Type | Public Sector | NBFC |
| Founded | 1906 | 2015 |
| Headquarters | Bengaluru | Pune |
Interest Rate (p.a.)
Canara
8.3% – 9.1%
Bajaj
8.35% – 9.25%
Lower/better: Canara
Processing Fee
Canara
0.50% (max Rs 10,000)
Bajaj
0.50% (max Rs 10,000)
Max Loan Amount
Canara
Rs 5 Cr
Bajaj
Rs 5 Cr
Max Tenure
Canara
30 Years
Bajaj
30 Years
Bank Type
Canara
Public Sector
Bajaj
NBFC
Founded
Canara
1906
Bajaj
2015
Headquarters
Canara
Bengaluru
Bajaj
Pune
Rates as of April 2026. Subject to change based on RBI policy and bank revisions.
EMI Comparison
Estimated EMI for Rs 50 Lakh balance transfer for 20 years at each bank's listed starting rate.
Canara
Bajaj
Savings: Choosing Canara saves you approximately ₹158 per month, or ₹37,920 in total interest over the loan tenure.
Feature Comparison
Key features offered by Canara and Bajaj for balance transfer.
| Feature | Canara | Bajaj |
|---|---|---|
| Competitive BT rates | ||
| Top-up facility | ||
| No hidden charges | ||
| Fast processing | ||
| Flexi top-up | ||
| Part-prepayment option | ||
| Fast BT processing | ||
| Attractive rates for salaried |
Competitive BT rates
Top-up facility
No hidden charges
Fast processing
Flexi top-up
Part-prepayment option
Fast BT processing
Attractive rates for salaried
Which Is Better — Canara or Bajaj?
It depends on your priorities. Here is a quick guide.
Choose Canara If...
- Lower starting interest rate (8.3% vs 8.35%)
- Government-backed (public sector bank)
- Lower maximum rate (9.1% vs 9.25%)
Choose Bajaj If...
- Trusted brand with strong balance transfer offerings
Need context for this comparison? Contact Money Matrix Hub to discuss the displayed lender information. Any service terms and lender decisions should be confirmed before proceeding.
Eligibility Comparison
General eligibility criteria for balance transfer at both banks.
Canara Eligibility
- CIBIL score: 650+ preferred
- Min income: Rs 20,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Bajaj Eligibility
- CIBIL score: 700+ preferred
- Min income: Rs 25,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Frequently Asked Questions
Common questions about Canara vs Bajaj balance transfer.
Which bank has a lower balance transfer interest rate in 2026 — Canara or Bajaj?
Canara currently shows a lower published starting rate of 8.3% p.a. for balance transfer. However, the actual rate you receive depends on lender eligibility, current documentation, credit score, income, and loan amount. Money Matrix Hub can help you compare available lender information from both banks.
What is the maximum balance transfer amount I can get from Canara vs Bajaj?
Canara offers a higher maximum loan amount of up to Rs 5 Cr. Canara offers up to Rs 5 Cr while Bajaj offers up to Rs 5 Cr for balance transfer.
Which bank charges a lower processing fee for balance transfer — Canara or Bajaj?
Canara lists a processing fee of 0.50% (max Rs 10,000), while Bajaj lists 0.50% (max Rs 10,000). Fees and waivers can depend on lender policy and borrower eligibility, so confirm the current Key Fact Statement before accepting an offer.
Should I choose Canara or Bajaj for balance transfer in 2026?
The best choice depends on your specific needs. Canara offers rates from 8.3%–9.1% with a max tenure of 30 years, while Bajaj offers 8.35%–9.25% with 30 years tenure. Contact Money Matrix Hub for a personalised comparison based on your profile.
Can Money Matrix Hub help me apply for a balance transfer from both Canara and Bajaj?
Money Matrix Hub can help you compare available lender information for Canara and Bajaj. Any application, credit enquiry, offer, sanction decision, lender fee, and borrower charge are subject to the relevant lender's current policy and documentation.
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