If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 1 Canara Bank Car Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.70% - 9.35% Floating
    1,000 to ₹5,000
    -
    7 Years
    Response Time Within 30 minutes
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    Canara Bank Car Loan is Rated as "Blown Away!" by 35 Users

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    Car Loan BYTES FROM OUR KITCHEN

    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

    01
    02
    03
    04
    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

    01
    02
    03
    Canara Bank Car Loan Minimum Salary

    Minimum income required
    Rs.3.00 lacs 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

    01
    02
    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 27 Jul 2017

    Canara Bank Car Loan Details
    Interest Rate Women - 8.70% ; Men - 9.35%
    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 7 years

    About Canara Bank

    Established in 1906, Canara Bank is one of the premier banking institutions in India with a wide array of financial services, well known for its Core banking services. Keeping the needs of its customers in the forefront, Canara Bank has over past hundred years strived to achieve excellence in every aspect of banking. Being one of the oldest and most trusted bank in India, Canara Bank has carved a niche for itself promoting growth, development, and constant innovation using modern technology for providing custom made banking services to its large clientele.

    Apply for Car Loan Online

    Why choose a Canara Bank Car Loan?

    Canara Mobile - Vehicle is a unique car loan scheme provided to customers wanting to purchase and own their dream cars without any hassles. Adding to the excitement of owning their own car, customers can buy any make and model of a car using a Canara Bank car loan, enjoying great returns on their investments

    Offering the Canara Mobile - Vehicle scheme at competitive interest rates, convenient EMI repayments and easy application procedures, this car loan from Canara Bank is one of the most value added investment in today’s market. Customers looking to invest in a car should definitely consider this car loan scheme as an affordable option with a lot of add-on benefits. They can also avail various discounts and waivers on fees while availing a Canara Bank car loan.

    Perfect Car Loan Deals for you

    Features of a Canara Bank Car Loan

    The Canara Mobile - Vehicle Scheme provides car loans for all types of cars, irrespective of the model and the make.

    Canara Mobile’s most unique feature is the amount of loan coverage that Canara Bank offers. Generally, there is no cap applied on the upper limit of the loan amount for purchase of new cars. Canara Bank finances a huge chunk of the total value of the car, which makes it very easy for an individual to own a car.

    • The bank finances up to 90% of the car value in case of loan amounts up to Rs 10 lakhs, 85% of the car value for loan amounts between Rs 10 lakhs and Rs 25 lakhs and up to 80% of the car price for loan amounts above Rs 25 lakhs. The mentioned percentages include the total invoice value, life tax, registration charges, accessories and insurance.
    • For new cars, a loan margin of 10% on the on-road price is expected for loan amounts up to Rs 10 lakhs, 15% in the case of loan amounts ranging above Rs 10 lakhs up to Rs 25 lakhs and 20% for loan amounts above Rs 25 lakhs.
    • Customers can avail Canara Bank car loans with loan tenures extending up to 84 months.
    • Canara Bank imposes a processing fee of 0.25% of the loan amount with a minimum being Rs 1000/- and a maximum of Rs 5000/- for all types of new cars.
    • Customers can easily repay their car loan at any time and the bank does not charge any pre closure charges for that.
    • Canara Bank customers can avail a car loan on a second car, subject to them having no overdues pending on their earlier car loans.
    • Vehicles which are not more than one month old will be considered as eligible to be financed under the new car scheme by Canara Bank.

    The applicable interest rate for car loan is determined on the basis of MCLR (Marginal Cost Based Lending Rate).

    Canara Bank Marginal Cost Based Lending Rate (MCLR) for New Borrowers
    Benchmark MCLR rate 9.35%
    Rate of interest 10.85% (MCLR + 0.50%)

    The effective MCLR for various tenures have been provided below.

    Tenure MCLR
    Overnight MCLR 9.00%
    One month MCLR 9.10%
    Three month MCLR 9.15%
    Six month MCLR 9.20%
    One year MCLR 9.35%

    Women borrowers get a concession of 0.05% on the standard rate.

    Note: The interest rate is subject to periodic revision as per bank’s credit policy and RBI’s quarterly reviews. Make sure to confirm with the bank on prevailing rates at the time of applying and choose the terms accordingly.

    Salaried professionals with a regular source of income and the required repayment capacity are eligible to avail a Canara Bank car loan.

    Self-employed businessmen, proprietary firms and corporate companies also qualify for a car loan provided they show the required profits and cash flow to repay the loan.

    Customers wanting to avail a Canara Bank car loan using Hindu Undivided Family (HUF) will not be eligible to do so.

    Applicants need to submit the mentioned documents while availing a Canara Bank car loan - filled in application form, two passport size photographs, latest salary certificate, form 16, income proofs like ITAO/ IT Returns, financial statements etc., Proforma Invoice, required guarantee, co-obligation and the necessary RTO forms.

    Salaried applicants need to have a minimum gross salary of Rs 3 lakhs per annum for the previous three years. The net take home should be 40%, the minimum being Rs 12,000/ per month, after considering the monthly instalment amount to be paid.

    Self-employed businessmen should have an annual average income of Rs 3 lakhs for the last three years as per IT returns filed.

    As a special case, if customers choose to declare other sources of incomes like rental income, income from investments or income of the spouse, the bank approves the eligibility based on the documentary evidences produced.

    EMI calculators are available on the Finance Tools menu under the main menu on the BankBazaar home page, which can help a customer calculate his monthly EMIs he will be paying for a Canara Bank car loan. BankBazaar’s Car Loan EMI calculator is designed to efficiently calculate the Canara Bank EMI payment details in a few seconds. Applicants are advised to follow a simple process to instantly calculate their Canara Bank car loan EMIs.

    1. On the main menu, please select the ‘Finance Tools’ drop down menu, which opens up to the EMI calculator option. Selecting this link will take you to the Car loan EMI calculator option specifically leading you to the EMI calculator page.
    2. Separate ruler scales are available on the EMI calculator page representing the ranges of the ‘loan amount’ and ‘tenure’ that can be selected by customers.
    3. Customers need to enter certain details like the required loan amount and the tenure of the Canara Bank car loan taken to calculate their EMIs. The pre-populated values can be changed to suit the customer’s details.
    4. Then the interest rate charged by Canara Bank for car loans has to be entered along with the processing fee charged. The default value is already populated in the field and can be changed if required.
    5. Clicking on ‘calculate’ will give a customer details of his Canara Bank car loan EMI payments along with the breakup of the total interest to be paid.
    6. Customers facing any issues or problems while navigating through these pages, can contact our friendly customer care team who will be available at 91 44 6651800
    1. Can customers check their Canara Bank car loan status online?

      Customers who have applied through BankBazaar can check their Canara Bank loan status using SMS alerts and emails. Applicants also have the option of checking their Canara Bank loan status online on the Canara Bank website.

    2. Where can customers get the Canara Bank car loan application form?

      The Canara Bank car loan application form is available on the Canara Bank website.

    3. Is the Canara Bank car loan statement available online?

      Customers can download their Canara Bank car loan statements from the Canara Bank portal.

    4. What are the Canara Bank car loan prepayment charges levied on a customer?

      Canara Bank imposes zero penalty charges on customers looking to pre-close their car loans.

    5. Are customers required to submit security or collaterals while availing a Canara Bank car loan?

      Hypothecation of the purchased car against the loan amount and having a personal guarantor for an applicant is acceptable to the bank.

    6. Can a customer contact the Customer service desk for more details on Canara Bank Car Loans?

      Our friendly customer Care helpdesk is available at 91 44 6651800 and will be glad to help customers with any queries regarding Canara Bank car loans.

    7. Who can apply for a car loan from Canara Bank?

      Individuals, professionals, reputed firms and companies are eligible to apply for a car loan from Canara Bank.

    8. Are Hindu Undivided Families (HUF) eligible to apply for a car loan from Canara Bank?

      No, Hindu Undivided Families are not eligible to apply for a car loan from Canara Bank.

    9. What type of cars does Canara Bank provide car loans for?

      Canara Bank provides car loans for all new and used four wheelers which includes Jeeps and Vans.

    10. I bought a car recently. Will Canara bank consider it a new car when I apply for a car loan with them for it or not?

      If your car is not more than 1 month old (from the purchase date or registration date), then it will be considered a new car by Canara Bank when you apply for a car loan with them for it. To avail the car loan in this case, the borrower must also be the first transferee.

    11. What type of income is taken into consideration by Canara Bank while deciding the income criteria for car loan?

      While deciding the income criteria for car loan, Canara Bank takes the income declared by the applicant into consideration. This can be his or her income earned from rent or investments or it can be the income of his or her spouse. The bank will consider this only if the income proofs for the same are provided.

    12. How much do I have to earn to be eligible for a car loan from Canara Bank?

      If you are a salaried employee, you must earn a minimum of Rs.3, 00, 000 per annum to be eligible for a car loan from Canara Bank.

      Individuals who are not salaried should have a minimum gross yearly income of Rs.3, 00, 000. They should also have IT returns which show a minimum income of Rs 2, 50, 000 for the last 3 years in order to avail this loan.

      In both the cases your Net Take Home (NTH) income must be 40 percent after calculating the proposed car loan interest, which is a minimum of Rs.12000 per month.

    13. Does Canara Bank allow joint applications in case of car loan?

      Yes, Canara Bank allows joint applications in case of car loan.

    14. What is the rate of interest on car loans offered by Canara bank?

      The rate of interest for female borrowers (includes joint applications where the first borrower is a female) is Base Rate plus 0.25 percent and the rate of interest for male borrowers is Base Rate plus 0.30 percent.

    15. How is the rate of interest on car loans calculated by Canara Bank?

      Canara Bank calculates rate of interest of their car loans on the basis of daily reducing balance.

    16. What is the maximum tenure for which I can take a car loan from Canara Bank for purchasing a new car?

      The maximum tenure for which you can take a car loan from Canara Bank for purchasing a new car is 84 months.

    17. What is the maximum tenure for which I can take a car loan from Canara Bank for buying a pre – owned car?

      The maximum tenure for which you can take a car loan from Canara Bank for buying a pre – owned car is 60 months or up to the life of the vehicle (as mentioned in the assessment report of the automobile engineer), whichever is lesser.

    18. Will my CIBIL Score help me get a car loan from Canara Bank?

      Yes, if you have a high CIBIL score, your chances of getting a car loan from Canara Bank will be higher. Your good CIBIL Score will convince the bank about you being a reliable and responsible person when it comes to handling your finances.

    19. How do I apply for a car loan from Canara Bank?

      You can apply for a car loan from Canara Bank online on the website of the bank or you can visit any branch of the bank.

    20. Can I check the status of my Canara Bank car loan application online?

      Yes, you can check the status of your Canara Bank car loan application online. To check, you have to visit the website of Canara Bank and click on ‘Online Loan Application and Tracking’ on the homepage. On the next page, you have to select ‘Canara Vehicle’ from the drop down menu and click on ‘Track Status’. After this, you have to provide details like your birth date, mobile number, Unique Reference Number (URN) and click on ‘Submit’.

    21. Does Canara Bank allow its customers to apply for a car loan online?

      Yes, Canara Bank allows its customers to apply for a car loan online. To apply, you have to click on ‘Online Loan Application and Tracking’ that can be found on the homepage of the bank’s website. On the next page, you have to select ‘Canara Vehicle’ from the drop down menu and click on ‘Apply’.

    22. Where can I find the application form for Canara Vehicle Loan Scheme for Cars?

      You can find the application form for Canara Vehicle Loan Scheme for Cars on the website of the bank. You can choose to apply online or download the form from the website. You can also collect the application form from any branch of the bank.

    23. What is the processing fee for Canara Vehicle Loan Scheme for Cars?

      The processing fee for Canara Vehicle Loan Scheme for Cars is 0.25 percent of the amount of loan. This fee amounts to a minimum of Rs.1000 and a maximum of Rs.5000.

    24. What is the maximum amount of loan that a person can avail through car loans offered by Canara Bank for purchase of new cars?

      The maximum amount of loan that a person can avail through car loans offered by Canara bank for purchase of new cars is mentioned below –

      • If the value of your new car amounts up to Rs.10, 00, 000, then he or she can avail 90 percent finance through Canara Vehicle Loan Scheme for Cars
      • If the value of the car is more than Rs.10, 00, 000 and up to Rs.25, 00, 000, then he or she can avail a loan 85 percent of it as loan from the bank
      • If the value of the car is more than Rs.25, 00, 000, then the bank will provide them 80 percent of the amount as loan
    25. What is the maximum amount of loan that a person can avail through car loans offered by Canara Bank for purchase of used cars?

      The maximum amount of loan that a person can avail through car loans offered by Canara bank for purchase of used cars is mentioned below –

      • He or she can avail 75 percent of the vehicle’s value as car loan from Canara Bank after being assessed by the automobile engineer or
      • He or she can avail 75 percent of the price in which the seller agreed to sell the car or
      • He or she can avail 75 percent of the original price of purchase of the car as loan from the bank or
      • He or she can avail Rs.15, 00, 000 as car loan

      Among the above points, the one with the lower value will be considered by the bank.

    26. While calculating the loan limit for Canara Vehicle Loan Scheme for Cars, does Canara Bank consider the on road price of the new car?

      Yes, Canara Bank considers the on road price of the new car while calculating the loan limit for Canara Vehicle Loan Scheme for Cars.

    27. Do I have to provide security to avail a car loan from Canara Bank?

      Yes, you have to provide the following as security to avail a car loan from Canara Bank –

      • Hypothecation of the car for the purchase of which you are taking the loan
      • Personal Guarantee of an individual with good records. His or her guarantee has to be accepted by the bank
    28. Can I prepay the amount of loan that I borrowed from the bank under the Canara Vehicle Loan Scheme for Cars?

      Yes, you can prepay the amount of loan that you borrowed from the bank under the Canara Vehicle Loan Scheme for Cars. The bank does not charge a prepayment fees.

    29. Is there a margin on car loans offered by Canara Bank?

      Yes, there is a margin on car loans offered by Canara Bank and it is applied on the on road price of the car. If you are purchasing a new car, the following margin is applicable –

      • For a loan of up to Rs.10, 00, 000 - 10 percent
      • For a loan of more than Rs.10, 00, 000 and up to Rs.25, 00, 000 – 15 percent
      • For a loan of more than Rs.25, 00, 000 – 20 percent
    30. What is the margin on used car loans offered by Canara Bank?

      The margin on used car loans offered by Canara Bank is 25 percent of the cost of the project.

    31. How long does it take for Canara Bank to process car loan applications?

      The car loan applications are processed very quickly by Canara Bank and the loan amount is also disbursed in very less time.

    32. How do the car loan customers of Canara Bank repay the money to the bank?

      The car loan customers of Canara Bank can repay the money to bank in Equated Monthly Installments (EMI). They can give standing instructions to the bank or pay the EMI via cheques.

    33. What is the verification process of Canara Vehicle Loan Scheme for Cars?

      Most banks in India follow the same process for verifying car loans. The applicants of Canara Vehicle Loan Scheme for Cars have to meet the eligibility criteria and provide all the necessary documents asked by the bank. Once they submit all the documents and their application forms to the bank, the bank will initiate the verification and approval process. The process is quick and if everything is in order, then the car loan is approved by the bank very quickly.

    34. I have a car loan from Canara Bank. Can I apply for a second car loan with the bank?

      Yes, you can apply for a second car loan with the bank but it will be approved by the bank under certain conditions. Also, you can apply for a second loan only if you have cleared all the dues of your other car loan.

    35. If I am not able to pay my EMI on time, will Canara Bank charge a late payment fee for the same?

      If you are not able to pay your EMI on time, then Canara Bank will not charge a late payment fee for the same. The bank will only charge the penal interest.

    36. Who can I contact if I want more information about Canara Vehicle Loan Scheme for Cars?

      If you want more information about Canara Vehicle Loan Scheme for Cars, you can visit any branch of the bank or contact their customer care department. To get in touch with their customer care department, you can call up on 1800 425 0018. You can also get more details about Canara Bank car loan by giving a missed call on 09268592685.

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  • Canara Bank Car Loan Reviews

    • Canara Bank Car Loan
      "Cordial Staff"
      0.5 5.0/5 "Blown Away!"
      I maintain a good relationship with the staff at Canara Bank. They are very cordial and customer centric. Whenever I approach them for a query, they are supportive as well. I had taken a car loan and it was a smooth process with a fantastic rate of interest.
      Was this review helpful? 1
      , shimoga
      Reviewed on Jul 11, 2017
    • Canara Bank Car Loan
      "Great service"
      0.5 4.5/5 "Excellent!"
      The documentation and the verification process was smooth with Canara bank for the car loan . Within a week time they have disbursed my car loan. The rate of interest was nominal with Canara. The customer service and the response was good. I am happy with the loan amount. The required loan amount was provided by Canara bank. I would say it was a good service offered by Canara bank.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 01, 2017
    • Canara Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The Canara bank actually values their customer and one of the Branch Manager took personal interest in concern to my car loan application and , they had approved the loan and after clearing my Cibil they had disbursed my loan with in 3hours of time. The rate of interest is nominal and competitive. Overall, I am satisfied with the CANARA BANK service.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 06, 2017
    • Canara Bank Car Loan
      "Quick Service"
      0.5 4.0/5 "Great!"
      In 2015, I had taken a car loan with Canara Bank. The interest rate was of 11%. I went to the bank and discussed with the manager about the loan, immediately they gave me the application form and processed the loan within 30 minutes. Actually that was year end so they processed it as soon as possible.
      Was this review helpful? 0
      , salem
      Reviewed on May 24, 2017
    • Canara Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Canara Bank car loan process is great, my experience was really good with Canara bank and the customer service executives are very friendly in approach and the rate of interest was 9.67% approximately. I got the car loan approved and on the same day the interesting part is after loan got disbursed bank executives came to my place to collect the documents. All in all, it was a very good service provided by them.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 16, 2017
    • Canara Bank Car Loan
      "Good in rate of interest"
      0.5 5.0/5 "Blown Away!"
      Initially I applied for a car loan with different bank. But I was not satisfied with interest rate, as it is little high so I approached Canara bank where I got the rate of interest for 8.95% so I happily continued with Canara bank and I got the loan as well.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 06, 2017
    • Canara Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got an amazing offer on the rates for my car loan. I had taken it from Canara bank. The process was also pretty smooth and easy. The services was good. There was no processing charges . Overall I could say that it was a hassle free process in getting this loan. Another advantage is they don't have any pre closure charges too.
      Was this review helpful? 0
      , hosur
      Reviewed on May 05, 2017
    • Canara Bank Car Loan
      "Very helpful service"
      0.5 5.0/5 "Blown Away!"
      Applied car loan with canara bank, the response and the follow up was good with my car loan application. The rate of interest and the charges levied low with my car loan disbursement. They just took 2 days to disburse my car loan. I can say it was very helpful service.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Apr 19, 2017
    • Canara Bank Car Loan
      "Champion service for car loan"
      0.5 5.0/5 "Blown Away!"
      I was overwhelmed by the service offered by CANARA bank, when it comes to Car loan as without any hesitation they were able to provide the car loan. It was unbelievable. I met the Branch Manager there he was able to process the loan with ease. Within 15 minutes they were able to complete the loan process, on top of that they were not in need of any documents too.
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on Dec 15, 2016
    • Canara Bank Car Loan
      "Easy process"
      0.5 5.0/5 "Blown Away!"
      I got an good offer on the rates for my car loan. I have taken it from Canara bank. The process was also pretty smooth and easy. The services was good. The processing charges was also reasonable. Overall I could say that it was a hassle free process in getting this loan.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 06, 2016
    • Canara Bank Car Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I had taken a car loan from Canara Bank. The process was very fast and easy. I got the loan on the same day. The services were good. They cooperated well. The rate of interest was also pretty normal. The processing charges was reasonable too. Good overall.
      Was this review helpful? 1
      , tuticorin
      Reviewed on Jul 23, 2016
    • Canara Bank Car Loan
      "Excellent services "
      0.5 5.0/5 "Blown Away!"
      Canara bank was near to my office that was the reason why I had chosen Canara bank. I had submitted all the necessary documents to them and got a car loan. The data and information given by the bank was crystal clear. Their executives were also friendly. One of the officials named Sowmya processed my application fast and disbursed my loan in 30 minutes.
      Was this review helpful? 0
      , kochi
      Reviewed on May 19, 2016
    • Canara Bank Car Loan
      "Nominal interest"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan with the Canara Bank and the interest rate was around 10.5% is fixed. The loan amount got disbursed within two to three days of time. Documentation process was an easy one like it was same as other banks and the processing charges were also a good one like it was around one thousand Rupees. There are no drawbacks with them and am happy and they need to improve their customer service like they have recruit young employees.
      Was this review helpful? 0
      , mangalore
      Reviewed on May 03, 2016
    • Canara Bank Car Loan
      "Smooth & convenient loan"
      0.5 5.0/5 "Blown Away!"
      I have taken the car loan with Canara Bank as they had offered me a good rate of 9% with a processing fee of just Rs.500 and there are no foreclosure charges as well. The loan processing and documentation overall took 3 days and it was a pretty smooth and convenient loan experience.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 30, 2016
    • Canara Bank Car Loan
      "Efficient"
      0.5 4.0/5 "Great!"
      Canara bank car loan is fine. They were very prompt . I am holding this car loan for 5 years. My current account is with Canara bank therefore I preferred Canara for the car loan. Interest rate is good . Processing fee is very good. I was asked to pay the normal EMI. Payment options are excellent when it comes to Canara bank.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Apr 15, 2016
    • Canara Bank Car Loan
      "Extremely good..."
      0.5 5.0/5 "Blown Away!"
      Extraordinary as the customer service is very good in Canara bank while applying for the car loan. Processing time is very short than other private banks. For me interest rate is 8.5% and this is an employee offer. Processing charge is just nil. For me the prepayment period is about 15 years and this differs from normal payment mode.
      Was this review helpful? 0
      , bidar
      Reviewed on Jan 18, 2016
    • Canara Bank Car Loan
      "Excellent approval "
      0.5 5.0/5 "Blown Away!"
      Within one hour the car loan was disbursed by canara bank as i have the saving account so there is no need of verification. I visit the bank and submitted the required documents . They gave 10.75% interest rate. They charged only 1% processing fee .
      Was this review helpful? 2
      , patna
      Reviewed on Dec 22, 2015
    • Canara Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan from canara bank and they gave the delivery order within 48 hour after submitting the documents. Interest rate and processing fee were normal. They checked my cybil and collected the minimal documents for the process.
      Was this review helpful? 2
      , kharagpur
      Reviewed on Nov 26, 2015
    • Canara Bank Car Loan
      "Bit delayed!"
      0.5 5.0/5 "Blown Away!"
      The car loan application is little bit delayed from Canara Bank. It took around 12 days fro the loan amount to be disbursed. Documentation was done as per the bank norms. But they offered me 70% of the vehicleâ??s on road price as the loan amount. It would be nice if they disburse the loan amount at the earliest!
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 23, 2015
    • Canara Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I havenâ??t faced any issue with the service provided by Canara Bank based on the car loan.They have applied interest around 10.4% for the loan.They have to work on the response provided towards the customer in the loan process.I would like to recommend about Canara Bank to others.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 24, 2015
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