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Canara Bank is an Indian state-owned bank headquartered in Bangalore, Karnataka. It was established in 1906, making it one of the oldest banks in the country. The bank was nationalised in 1969. Canara Bank occupies a premier position in the comity of Indian banks with an unbroken record of profits since its inception. Read on to learn about the eligibility and documentation requirements for the Canara Bank car loan.
At least 21 years old
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Minimum income required
Rs.3.00 lacs per annum
Loan capped @
90% of the ex-showroom price
EMIs of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 7 years
|Interest Rate (Monthly reducing balance)||10.25% to 10.30%|
|Processing Fees||0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-|
|Pre Closure Charges||Nil|
|Loan Tenure||1 year to 7 years|