Canara Bank Car Loan Interest Rate November 2026
Canara Bank advertises car loan rates starting from 7.8% per annum. For ₹8 lakh over 5 years that is an EMI of about ₹16,145 a month.
Canara Bank car loan rates and charges
| Starting interest rate | 7.8% per annum |
| Applies to | Loans above ₹15 lakh in the best credit grade; 7.75% for women borrowers |
| Effective from | 9 October 2026 |
| Processing fee | Not stated on the page we checked |
| Prepayment | Not stated on the page we checked |
| Maximum tenure | Not stated on the page we checked |
Source: Canara Bank official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Canara Bank car loan EMI calculator
Prepayment options (optional): pay extra to finish sooner
EMI for popular amounts
₹5 lakh for 3 years₹5 lakh for 5 years₹5 lakh for 7 years₹8 lakh for 3 years₹8 lakh for 5 years₹8 lakh for 7 years₹10 lakh for 3 years₹10 lakh for 5 years₹10 lakh for 7 years₹15 lakh for 3 years₹15 lakh for 5 years₹15 lakh for 7 years
Compare Canara Bank with other banks
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Frequently asked questions
What is the Canara Bank car loan interest rate?
Canara Bank's website advertises car loan rates starting from 7.8% per annum (checked 2026-11-02). The rate you get depends on your credit score, income and loan amount.
What is the EMI on a ₹8 lakh car loan from Canara Bank?
At the starting rate of 7.8% over 5 years the EMI is about ₹16,145 a month, with total interest of about ₹1,68,679. A higher personal rate would raise this.
What is the processing fee for a Canara Bank car loan?
The Canara Bank page we checked did not state a processing fee. Please confirm it with the bank's fee schedule before applying.
Does Canara Bank charge prepayment charges on a car loan?
The page we checked did not state prepayment terms. Please confirm with the bank.