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Canara Bank ₹10 lakh Car Loan EMI for 7 Years
At the advertised starting rate of 7.8%, the EMI is about ₹15,487 a month, with total interest of about ₹3,00,888.
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) | ₹15,487 | ₹3,00,888 | ₹13,00,888 |
| 8.3% | ₹15,736 | ₹3,21,832 | ₹13,21,832 |
| 8.8% | ₹15,988 | ₹3,42,972 | ₹13,42,972 |
| 9.3% | ₹16,242 | ₹3,64,306 | ₹13,64,306 |
| 9.8% | ₹16,498 | ₹3,85,834 | ₹13,85,834 |
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 | ₹1,11,781 | ₹74,060 | ₹1,85,841 | ₹8,88,219 |
| Year 2 | ₹1,20,819 | ₹65,022 | ₹1,85,841 | ₹7,67,400 |
| Year 3 | ₹1,30,587 | ₹55,254 | ₹1,85,841 | ₹6,36,813 |
| Year 4 | ₹1,41,145 | ₹44,696 | ₹1,85,841 | ₹4,95,669 |
| Year 5 | ₹1,52,556 | ₹33,285 | ₹1,85,841 | ₹3,43,112 |
| Year 6 | ₹1,64,890 | ₹20,951 | ₹1,85,841 | ₹1,78,222 |
| Year 7 | ₹1,78,222 | ₹7,619 | ₹1,85,841 | ₹0 |
Frequently asked questions
What is the EMI for a ₹10 lakh Canara Bank car loan for 7 years?
At Canara Bank's starting rate of 7.8% the EMI is about ₹15,487 a month. If your offered rate is 8.8% it would be about ₹15,988.
How much total interest will I pay?
At 7.8% the total interest over 7 years is about ₹3,00,888, so you repay about ₹13,00,888 in all.