• Text Size:
  • A+
  • A
  • A-
  • |
  • Color Theme:
  • canara bank
  • canara bank
  • Screen Reader Access

canara

  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Announcements
  • Careers
Net Banking
  • Personal Banking canara
    • Savings & Deposits
    • Loan Products
    • Technology Products
    • Mutual Funds
    • Insurance Business
    • International Services
    • Card Services
    • Consultancy Services
    • Depository Services
    • Ancillary Services
    • Approved Housing Projects
    • How To Apply
  • Corporate Banking canara
    • Accounts & Deposits
    • Supply Chain
    • Loans & Advances
    • Syndication Services
    • IPO Monitoring Activity
    • Merchant Banking
    • TUF Schemes
    • Canara eTax
  • Investor Relation canara
    • Contact Us
    • Appeal to Physical Shareholders of Canara Bank
    • Join 20th e-AGM [NEW]
  • Canara Easy Fee
  • NRI Banking canara
    • Deposit Products
    • Loans & Advances
    • Remittance Facilities
    • Investment Facilities
    • Consultancy Services
    • Other Services
    • NRI News Bulletin
    • Contact Details
    • FAQs
    • FATCA / CRS - Self Declaration Form
  • Priority Portal canara
    • Schemes
    • RRB Section
    • Agri-Marketing
    • Agricultural Innovation Centre
    • Rural Development
    • CED for Women
    • Sustainable Development and Corporate Social Responsibility (SD-CSR)
    • Lead Bank
    • In Promotion Of Self Employment
    • RURAL DEVELOPMENT SCHEMES
    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
canara bank
  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Announcements
  • Careers
  • Personal Banking canara
    • Savings & Deposits
    • Loan Products
    • Technology Products
    • Mutual Funds
    • Insurance Business
    • International Services
    • Card Services
    • Consultancy Services
    • Depository Services
    • Ancillary Services
    • Approved Housing Projects
    • How To Apply
  • Corporate Banking canara
    • Accounts & Deposits
    • Supply Chain
    • Loans & Advances
    • Syndication Services
    • IPO Monitoring Activity
    • Merchant Banking
    • TUF Schemes
    • Canara eTax
  • Investor Relation canara
    • Contact Us
    • Appeal to Physical Shareholders of Canara Bank
    • Join 20th e-AGM [NEW]
  • Canara Easy Fee
  • NRI Banking canara
    • Deposit Products
    • Loans & Advances
    • Remittance Facilities
    • Investment Facilities
    • Consultancy Services
    • Other Services
    • NRI News Bulletin
    • Contact Details
    • FAQs
    • FATCA / CRS - Self Declaration Form
  • Priority Portal canara
    • Schemes
    • RRB Section
    • Agri-Marketing
    • Agricultural Innovation Centre
    • Rural Development
    • CED for Women
    • Sustainable Development and Corporate Social Responsibility (SD-CSR)
    • Lead Bank
    • In Promotion Of Self Employment
    • RURAL DEVELOPMENT SCHEMES
    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
  • Home
  • Personal Banking
  • Loan Products
  • Canara Vehicle To Agriculturists
  • Canara Kuteer–Housing Loan Scheme
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.

Canara Vehicle to Agriculturists

PURPOSE

  • Purchase of Four wheelers (LMVs) of all types i.e., both Brand new & Pre-owned, by Agriculturists whose major annual income is from Agriculture.

ELIGIBILITY

  • All agriculturists owning and cultivating agricultural lands of more than 5 acres of irrigated lands/10 acres of dry lands in their name/s with 2 years of satisfactory dealing with us. In case of agriculturists engaged in Dairy farming, Poultry farming, Plantation Crops and Horticultural produce, the minimum land holding requirement does not apply, instead they should have minimum gross annual income is Rs.4.00 lacs.

INCOME PROOF & NTH

  • In case of loans upto Rs. 10 Lacs, though it is desirable to submit latest ITR where agricultural income is also declared for ascertaining the gross annual income, in case of non-availability of ITR, Income certificate issued by the Tahsildar/Mandal Revenue Officer/District Revenue Authorities or any competent authority (Permitted by the State Govt. to issue such certificates) may be accepted as proof of income for reckoning the eligibility/NTH.
  • In case of loans above Rs. 10 Lacs, ITR where agricultural income is also declared is compulsory.
  • Net Take Home (NTH) should be 40% of gross annual income at the time of applying for loan (after meeting the installment for the proposed loan under this scheme) with a minimum of Rs. 1.50 lacs/-p.a.
  • Where borrower is having non-agricultural income of regular nature (either through salary, business or profession), the same may also be reckoned for determining the repayment capacity. However, adding the non-agricultural income shall be subject to the income being declared in ITAR or subject to production of documentary evidence acceptable to the Bank.
  • In case, any other family member is also having Agricultural income and intends to join as Co-Borrower, the same can be permitted for arriving at Annual Income, Repayment Capacity.

MARGIN/QUANTUM OF LOAN

Sl. No. 4- Wheeler Loan amount for new vehicle
1 Upto Rs.10.00 lakhs 10%
2 > Rs.10.00 lakhs upto Rs.25.00 lakhs 15%
3 Above Rs.25.00 lakhs 20%

Accessories can be financed limited up to Rs 25,000/- amount.

In case of Old Vehicle, vehicle should not be more than 3 years old & quantum of finance to be granted will be the least of the following:

  1. 60% of the value of vehicle as appraised / assessed by an automobile engineer.
  2. 60% of the price agreed to between the seller and the buyer.
  3. 60% of the original purchase price of the vehicle
  4. Rs.50.00 lacs (after maintaining a minimum margin of 50%)

Maximum quantum calculated as per above calculations shall not exceed One years annual income of the Borrower/Borrowers.

REPAYMENT PERIOD

  • In case of new vehicle-Maximum 84 months.
  • In case of second hand vehicles, the repayment period is restricted to future life of vehicle as specified by a qualified automobile Engineer or 60 months whichever is less.
  • The periodicity of repayment i.e., monthly /quarterly/ half yearly / yearly should be fixed depending upon the activity carried on by the borrower / income stream of the borrower / cropping pattern etc.

RATE OF INTEREST

Click here for Rate of Interest

SECURITY

  • Hypothecation of the vehicle to be purchased. Suitable guarantor good for the amount may be insisted upon.

PROCESSING CHARGES

  • 0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-.

EMI Calculator

  • EMI Calculator
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.
  • BCSBI's Code
  • Grievance Redressal
  • Customer Education
  • Employees and Ex-Employees
  • Regulatory Disclosures
  • RTI Act
  • Regulations
  • Browser Compatibility
  • Disclaimer
  • Screen Reader Accessibility
  • Sitemap
  • Official Language

Last Updated on: 17/05/2022 |   Visitors: 8896        

© 2019, Canara Bank. All rights reserved