|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Canara Vehicle Loan||9.00% - 9.65%, Floating||1,000 to ₹5,000||90% of on-road price of vehicle||84 months|
|Canara Vehicle To Agriculturists||Up to 9.35%||0.25% of the loan amount+available tax||Min Rs 10 lacs to Rs 25 lacs and above||Up to 7 years|
Q: What are the interest rates Canara bank offers for car loan borrowers?
A: Canara bank offers Car loan with an attractive interest rate ranging between 8.70% to 9.35%.
Canara Bank car loan interest rate is of the floating type and subject to changes depending upon individual customer profile. In the case of women borrowers, the interest rate will be reduced by 0.05%.
Q: What are the features of Canara bank Car loan?
A: Canara bank has a list of following unique features for car loan borrowers and they are as follows:
Q: Is there any foreclosure charges in Canara Bank car loan?
A: No, Canara bank does not charge any foreclosure charges. The loan can be prepaid before the loan tenure ends.
Q: What is the processing fee for Canara bank car loan?
A: Canara bank will charge a nominal processing fee of 0.25% on the loan amount. The minimum processing fee is Rs 1000/- and the maximum processing fee is Rs 5000/- respectively.
Q: Can I add my spouse's income to increase the income eligibility criteria for a car loan?
A. Yes, a loan applicant can add their respective spouse's income to increase the income eligibility criteria for a car loan. In this case, the spouse will be treated as co-applicant. Any other income declared by the loan applicant, including rental income, income from investment can also be added to increase the annual total income.