Tag Archives: Canara Bank four wheeler loan

Canara Bank Car Loans | Eligibility | Rates | Information

Purpose:

  • For buying new or used four wheeler

ELIGIBILITY:

  • Salaried persons, professionals and business people, with qualifying income and required repayment capacity. Reputed firms and corporates are also eligible.

  • HUF not eligible

Your Dream Car. Your contribution and ours…

  • For buying a brand new car, bring just 10% of the cost. Canara Bank will provide you loan upto 90% of the on road price. There is no ceiling on maximum loan amount!

  • For new vehicles, loan may be granted upto 90% of the total value inclusive of invoice value, life tax, registration charges, insurance premium and other accessories.

USED CARS

  • We also finance used cars (not older than 5 years) at the same low interest rates. We 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.

Repayment to suit your pocket:

  • In convenient Equated Monthly Instalments upto 72 months. So, step into any of our branches and drive away your dream car.

Processing Charges:

  • 0.1% on the loan amount with a minimum of Rs.250/- and maximum of Rs.500/-.

TWO WHEELERS

Purpose:

  • For purchase of brand new two wheelers

Eligibility :

  • Individuals including professional and salaried class.

Quantum of Loan

  • 70% of the total value inclusive of invoice value, life tax, registration charges, Insurance premium and other accessories or 15 months of net salary / 50% of the annual net income in the immediate previous year whichever is less.

Repayment :-

  • In convenient EMIs of 48 months. Selectively 60 months also considered.

Documents/Formalities:

  • Stipulated Loan application with 2 passport size photos.

  • Latest salary certificate and Form No.16 / Income – proof like ITAO/ IT Return, Financial statements as the case may be.

  • Proforma Invoice or valuation report (as the case may be)

  • Guarantee / co-obligation. Waiver considered selectively.

  • RTO Forms

Processing Charges:

  • 0.1% of the loan amount subject to minimum of Rs.100/- and maximum of Rs.250/-.

For more details, please visit our nearest branch or call to toll free no. 1800 425 0018.