CANARA BANK CAR LOAN INTEREST RATES

Cenera Bank Car Loan Interest Rates

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks. With an unbroken record of profits since its inception, Canara Bank has several firsts to its credit. These include:

 

  • Launching of Inter-City ATM Network
  • Obtaining ISO Certification for a Branch
  • Articulation of ‘Good Banking’ – Bank’s Citizen Charter
  • Commissioning of Exclusive Mahila Banking Branch
  • Launching of Exclusive Subsidiary for IT Consultancy
  • Issuing credit card for farmers
  • Providing Agricultural Consultancy Services

Over the years, the Bank has been scaling up its market position to emerge as a major ‘Financial Conglomerate’ with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. As at June 2013, the Bank has further expanded its domestic presence, with 3765 branches spread across all geographical segments. Keeping customer convenience at the forefront, the Bank provides a wide array of alternative delivery channels that include over 3754 ATMs, covering 1431 centres. Several IT initiatives have been undertaken during the year, which include Funds Transfer through Interbank Mobile Payment Services (IMPS) in ATMs, ASBA facility to net banking users, E-filing of tax returns and facility for viewing details of tax deducted at source, Terminal at select branches for customers to use net banking, SMS/e-mail alerts for all transactions done through ATM, net banking, POS, mobile banking, online payments irrespective of amounts, online loan applications and tracking facility, generation of automatic pass sheets through e-mail and automatic renewal of term deposits. Under Government business, the Bank has implemented internet based application for UGC Maulana Azad National Fellowship Scheme, Web portal for National Scheme for Girl Child Secondary Education, Electronic Accounting Systems of e-Receipts-Customs (EASeR-C) for collection of customs duty and e-payment of commercial taxes module for UP, Karnataka, Delhi and Tamil Nadu

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/-.

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