Not having the required sum to buy a car? Don’t worry Canara Bank will help you with it. The car loan interest rate of Canara Bank is probably the best in India. Every salaried and self-employed can apply for the loan if their annual income is INR 3 lakh per annum. You can get a loan up to 90% of your car price including the registration and other charges, read and know about the features of the Canara Car loans.
What is the interest rate Canara Bank charges? Canara Bank charges an attractive interest rate of 8.50% per annum. The car loan interest rate in India is fixed and based on the repo linked lending rate, Canara Bank RLLR is 8.05% and with the credit risk, the effective interest rate of the car loan ranges from 8.50%-11.05%. You can pay your loan and the charged interest rate in equated monthly installment for 84 months. The borrower has the choice to choose their loan tenure. Because the loan may seem like a burden to you if the payment duration keeps going. Beneficial rate for women borrower at Canara! When the borrower is a woman then Canara Bank offers them the benefit of a lower interest rate compared to the other borrowers. The car loan interest rate in India for the women borrowers at Canara Bank is from 8.45% to 11.00%. You can get a low rate of interest to your loan amount also if your credit score is good. So with the help of your credit status, you can take advantage of your car loan interest rate. For the loan payment, use ECS, PDCs or standing Instruction service of Canara Bank. As using them you can’t forget your EMI payment and the amount is auto-debit from your accounts.you are eligible for a car loan at Canara if your net monthly income is INR 12,000 after the EMI deduction. There is no maximum limit for your loan amount so you can buy the car you want to with Canara Bank support. Apply for Canara Car Loan! To get your loan from Canara Bank apply for it, fill up the loan form and submit your KC proof along with the income documents like bank statement or salary slip. When your loan is approved it hardly takes less than 24 hours to disburse the loan amount. Once the loan is disbursed to your account, then you can pay the rest of the car price and get your car at your home. Just drive in your luxurious car from your home to the office and plan a long drive with your loved ones. And to get all this you need to pay a processing fee of INR 1,000 to Canara Bank for the car loan. And the fee can be up to 0.25% of the loan amount. So, drive in your car with the Canara car loan and pay for it in 84 months of flexible EMI. The best bank for your best car with the most affordable car loan interest rate in India for you now go and get it.
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Anika Sharma
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