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Canara Vehicle
Purpose
Add wheels to your dreams!
...Imagine the excitement of owning a car..... the luxury, the thrill....
- For buying new or used four wheeler
Vehicle Loan Eligibility
- All individual borrowers / professionals / reputed firms / companies are eligible. However HUF is not eligible.
- Salaried individuals should have a minimum gross salary of Rs.3.00 lacs p.a. Minimum NTH after proposed installment should not be less than 25% or Rs.12,000/- whichever is higher.
- Other than salaried individuals should have a minimum Gross Annual Income of Rs.3.00 lakh p.a. as per latest ITR/ITAO OR should have a minimum Gross Annual Income of Rs.3.00 lakh p.a. as per latest ITR/ITAO subject to 3 years’ Annual Average Gross Income not less than Rs.2.50 lakh.(in case if they are engaged in business/profession for more than 3 years). Minimum NTH after proposed installment should not be less than 25% or Rs.12,000/- whichever is higher.
Your Dream Car. Your contribution and ours...
| Sl. No. | 4-Wheeler Loan amount for new vehicle | Margin | |
| Central/State/ Government/ Autonomous bodies /PSUs employees | All others customers | ||
| 1 | Upto Rs. 10.00 Lakhs | 10% | 10% |
| 2 | > Rs. 10.00 lakhs upto Rs. 25.00 lakhs | 15% | |
| 3 | above Rs.25.00 lakhs | 20% | 20% |
USED CARS
- We also finance used cars (not older than 3 years) at the same low interest rates. We finance 60% of the agreed price or 60% of the value of the car or 60% of the original value of the vehicle, as assessed by an automobile engineer or Rs. 50.00 Lakh whichever is lower
Vehicle Loan Interest Rate
Repayment to suit your pocket
- In convenient Equated Monthly Instalments upto 84 months ( 60 months in case of second hand vehicles ). So, step into any of our branches and drive away your dream car.
Processing Charges
- Bank is celebrating Retail Loan Festival and waived the processing charges from 01.09.2022 to 31.03.2023
- 0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-.