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Home >> Personal Banking >> Loan Products >> Canara Mobile (Vehicle)
 
Canara Mobile (Vehicle)
 

Add wheels to your dreams!
...Imagine the excitement of owning a car..... the luxury, the thrill....

FOUR WHEELER:

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 for loan upto Rs. 10.00 Lacs, 15% of the cost for loan above Rs. 10.00 Lacs & upto Rs. 25.00 Lacs and 20% of the cost for loan above Rs. 25.00 Lacs. Canara Bank will provide you loan upto 90%/85%/80% of the on road price. There is no ceiling on maximum loan amount

  • For new vehicles, loan may be granted upto 90%/85%/80% 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.15.00 Lakh whichever is lower.

Repayment to suit your pocket:

  • In convenient Equated Monthly Instalments upto 84 months ( 60 months in case of second hand vehicles ). So, step into any of our branches and drive away your dream car.

Processing Charges:

  • 0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-.

  • Processing charges waived till 31.01.2015

TWO WHEELERS

Purpose:

  • For purchase of brand new two wheelers

Eligibility :

  • Individuals including professional and salaried class.

Quantum of Loan

  • For Salaried Persons- 80% of the total value inclusive of invoice value, life tax, registration charges, insurance premium and other accessories. or to the extent of 50% of their annual net income in the immediate previous year, whichever is less. For non-salaried individuals- 75% of the total value inclusive of invoice value, life tax, registration charges, insurance premium and other accessories or to the extent of 50% of their annual net income in the immediate previous year, whichever is less.

Rate of Interest

Please visit our interest rate page for the current rates.

Repayment :-

  • In convenient EMIs of 60 months.

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:

  • 0.25% of the loan amount subject to minimum of Rs.250/- and maximum of Rs.1000/-.


Frequently Asked Questions on Canara Mobile

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