Canara Bank Car Loan

Canara Bank Car Loan
 4.5 / 5.0   by 5 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

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.


You’re probably eligible for an Canara Bank Car Loan if you are

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Canara Bank Car Loan Minimum Age

At least 21 years old

Canara Bank Car Loan Maximum Age

Less than 60 years old

Canara Bank Car Loan Eligible Employment Type

Salaried or self-employed
with regular income

Canara Bank Car Loan Minimum Income

Earn more than the minimum
income required


Your Canara Bank Car Loan amount eligibility is based on these factors

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Canara Bank Car Loan Minimum Salary

Minimum income required
Rs.80,000 per annum

Canara Bank Car Loan Maximum Loan to Value

Loan capped @
90% of the ex-showroom price

Canara Bank Car Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible Canara Bank Car Loan amount by these steps

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Canara Bank Car Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

Canara Bank Car Loan Maximum Tenure

Choose longer tenure loan up to 7 years


Documentation needed to apply for an Canara Bank Car Loan

  • 1. Residence proof
  • 2. Photo ID and age proof
  • 3. Signed application form with photograph
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary – slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:

    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Canara Bank Car Loan Interest RatesUpdated on 19 Dec 2014

Canara Bank Car Loan Details
Interest Rate (Monthly reducing balance) BR+0.50% floating
I- Base 10.20%
Processing Fees Nil till 31-01-2015
Loan Tenure 1 year to 7 years

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Canara Bank Car Loan Reviews

100 % of our customers would recommend this bank. (5 out of 5) Write Review
Customer Reviews
Page 1 of 1 1
  • Validated User
    (1)

    My opinion about Canara Bank car loan is good, because there was no hidden cost, they are very transparent. I am happy with the interest rate offered by Canara bank as they are providing 10.50% . The best part is processing fee is zero or nil. I am very much about to take a loan with Canara Bank as its a Nationalised, Its very secured. It could be have been better if they have good online facility.

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    ramesha took a Car Loan from CANARA BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Canara Bank car loan the experience was really good and the customer service executives are very friendly in approach and the rate of interest was also less when compared with other banks and i got the car loan approved and on the same day the overall service was good.

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    kiran took a Car Loan from CANARA BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Canara Bank car loan it is good I got complete the procedure with in one day and the loan was disbursed the next day nothing unique the loan was disbursed quite well no suggestions for them to improve and I got the best interest rate also and their overall service is fine

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    pravesh took a Car Loan from CANARA BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Last week I have taken the car loan from Canara bank after comparing the rate of interests with all the banks in the market. I don't have much exposure to Canara bank. I felt that the rate of interest was very less with Canara bank which is the only reason for choosing the bank.

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    vishnu took a Car Loan from CANARA BANK on BankBazaar.com Reviewed on
  • over all a good service
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , bangalore
    Recommend Recommended by user
    Validated User

    Applied for Car Loan through Canara Bank.The service provided by Canara Bank is good.The executive were quick and polite.They gave me all the information .In the morning I went to the bank to apply for loan, they did not ask me for any documents and by 2 in the afternoon I had the Demand Draft in my hand.

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    Fees & Charges
    Promised Interest Rate
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    Responsiveness
    suresh took a Car Loan from CANARA BANK on BankBazaar.com Reviewed on
Customer Reviews
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