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Canara Bank ₹10 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.8%, the EMI is about ₹31,244 a month, with total interest of about ₹1,24,791.
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.
Prepayment options (optional): pay extra to finish sooner
EMI at higher rates
| Rate | EMI | Total interest | Total payment |
|---|---|---|---|
| 7.8% (starting) | ₹31,244 | ₹1,24,791 | ₹11,24,791 |
| 8.3% | ₹31,475 | ₹1,33,098 | ₹11,33,098 |
| 8.8% | ₹31,707 | ₹1,41,442 | ₹11,41,442 |
| 9.3% | ₹31,940 | ₹1,49,823 | ₹11,49,823 |
| 9.8% | ₹32,173 | ₹1,58,241 | ₹11,58,241 |
Year-by-year repayment schedule at 7.8%
How much of each year's payments goes to principal and to interest, and what you still owe at the end of the year. Use the calculator above for a month-by-month view and prepayment options.
| Year | Principal | Interest | Paid | Balance left |
|---|---|---|---|---|
| Year 1 | ₹3,07,779 | ₹67,151 | ₹3,74,930 | ₹6,92,221 |
| Year 2 | ₹3,32,663 | ₹42,267 | ₹3,74,930 | ₹3,59,558 |
| Year 3 | ₹3,59,558 | ₹15,372 | ₹3,74,930 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Canara Bank car loan for 3 years?
At Canara Bank's starting rate of 7.8% the EMI is about ₹31,244 a month. If your offered rate is 8.8% it would be about ₹31,707.
How much total interest will I pay?
At 7.8% the total interest over 3 years is about ₹1,24,791, so you repay about ₹11,24,791 in all.