CANARA Bank Car Loan Interest rates @ 2014

Get your own wheels!

CANARA Bank Car Loan

Canara Bank car loan will give you a facility of having your own wheels through its product called “Car loan”.

Car as a necessity today is no longer an unachievable asset. Even if you do not have the required money, you can definitely take a car loan to buy your wheels. A comfort, a pleasure, a status, a thrill, and a quality time with your near and dear ones can be obtained while driving your own car. And a good financial management also.

How to Get CANARA Bank Car Loan

Now a days in metro cities, autorikshaws charge around Rs 13 per kilo meter. If you have your own car giving an average mileage of 15 km/ltr when the petrol cost is Rs 80/ltr, then you are spending Rs 5.33/km having an approximate profit of Rs 8/km. And if it is a diesel version then you can imagine that how much you will save while travelling in your own car with an added advantage of comfort, air conditioner and a status of course.

So financially also, car will be more profitable than a public transport. Now, when you are getting a profitable venture to invest in with ready funds as a loan amount, then why not to go for your own car?

So, let’s discuss about some of the features of Canara Bank car loan.

CANARA Bank Car Loan features:

You can get up to 90% of loan on ‘On road price’. You can avail the maximum loan repayment period of 84

months in terms of new car and 60 months in terms of old car.

You can get a loan both for new car as well as old car. All the salaried individuals, professionals, business men,

good reputed companies and partnership firms except HUF, are eligible to get the car loan, if they have regular and income at par with the eligibility criteria.

Canara bank home loan charges very less processing fees @ 0.25% of the loan amount with a minimum and maximum limit of Rs 1000 and maximum of Rs 5000 respectively.

CANARA Bank Car Loan Interest rates (effective from 01.01.2014):

Base Rate: The Base rate charged by Canara Bank is 10.20%.

Car loan interest rate: Canara bank car loan interest rate is 0.50% above the base rate and it is 10.70%. This rate is applicable for all the variants of loan in terms of margin and loan tenure

Car Loan Variants

For the repayment tenure of more than 36 months when the minimum margin is 10%, then the Canara Bank car loan interest rate is 10.70%.

For the repayment tenure of 36 months or lesser than 36 months when the minimum margin is 10%, then the Canara Bank car loan interest rate is 10.70%.

For any repayment tenure when the minimum margin is 10%, then the Canara Bank car loan interest rate is 10.70%.

Note:

All the above mentioned rates are subject to change. Individual has to verify the rates from time to time.

Thus, by going with Canara bank, you can avail a car loan @ just 10.70%. Drive home your own wheels with Canara bank car loan.

For more information on car loans and facilities like: compare the quotes, explore all features, eligibility criteria, documentation, EMI calculation and application for a car loan; visit www.bankbazaar.com. Drive now!

Thank you for checking through our slide. For more information about the Canara Bank Car Loans, just browse through Bank Bazaar.com