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| Introduction |
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| Canara Bank offers loan to buy your own luxury car. The bank provides loan upto 90% of the on road price and there is no ceiling on the maximum loan amount. For used cars, which are not older than 5 years, bank finance 75% of the agreed price or 75% of the value of the car, as assessed by an automobile engineer or Rs.6 lakh whichever is lower. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
Bank finance 75% of the agreed price or 75% of the value of the car, as assessed by an automobile engineer or Rs.6 lakh whichever is lower.
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Maximum allowable loan amount is Rs 6 lakhs.
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| Tenure |
Min. - 12 months.
Max. - 84 months.
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Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
10.7 % |
10.7 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Processing charges: 0.25%
Min- Rs.1000
Max- Rs.5000 |
Processing charges: 0.25%
Min.- Rs.1000
Max- Rs.5000 |
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