Documentation needed to apply for an Canara Bank Car Loan
1. Residence proof
2. Photo ID and age proof
3. Signed application form with photograph
4. Last 6 months bank statement
5. Documentation for salaried applicants:
Last 3 months salary – slips
Form 16 or Income Tax Returns
6. Documentation for self-employed applicants:
Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Canara Bank Car Loan Interest Rates
Canara Bank Car Loan Details
8.70% to 9.35%
0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-
Features of a Canara Bank Car Loan
The customer has to pay inspection charges of Rs.200 per inspection subject to a maximum of Rs.600 per year.
Clients can easily repay their car loan at any time and the bank doesn't charge any pre-closure charges for that.
Clients can avail Canara Bank car loans with advance tenures extending up to 84 months for new cars. On the other hand, the bank Provides a maximum loan repayment plan of 60 months in case the debtor has decided to purchase a second-hand car
The Canara Mobile - Vehicle Scheme provides car loans for all sorts of automobiles, despite the create and the model.
Canara Bank clients can avail a car loan on another automobile, subject to them having no overdue pending in their earlier car loans.
Offering the Canara Vehicle strategy at convenient EMI repayments competitive interest rates and effortless application procedures, this automobile loan from Canara Bank is among the most value added investment in the market of today. Customers seeking to put money into a car should think about this car loan strategy as an alternative with a lot of advantages. They're also able to avail waivers and discounts on fees while offering a Canara Bank car loan.
While availing this loan, the customer has to ensure that the minimum NTH after the EMI proposed by the bank is not lower than Rs.12,000 or 25% of the loan - whichever is more.
The lender finances up to 90% of the car value in the event of loan amounts around Rs.10 lakh, 85 percent of the vehicle value for loan amounts between Rs.10 lakh along with Rs.25 lakh and around 80 percent of the car cost for loan amounts over Rs.25 lakh. The percentages include life tax the invoice value, registration charges, accessories and insurance of the car that you've selected.
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