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Canara Bank ₹15 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.8%, the EMI is about ₹46,866 a month, with total interest of about ₹1,87,186.
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) | ₹46,866 | ₹1,87,186 | ₹16,87,186 |
| 8.3% | ₹47,212 | ₹1,99,647 | ₹16,99,647 |
| 8.8% | ₹47,560 | ₹2,12,164 | ₹17,12,164 |
| 9.3% | ₹47,909 | ₹2,24,735 | ₹17,24,735 |
| 9.8% | ₹48,260 | ₹2,37,362 | ₹17,37,362 |
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 | ₹4,61,668 | ₹1,00,727 | ₹5,62,395 | ₹10,38,332 |
| Year 2 | ₹4,98,994 | ₹63,401 | ₹5,62,395 | ₹5,39,338 |
| Year 3 | ₹5,39,338 | ₹23,058 | ₹5,62,395 | ₹0 |
Frequently asked questions
What is the EMI for a ₹15 lakh Canara Bank car loan for 3 years?
At Canara Bank's starting rate of 7.8% the EMI is about ₹46,866 a month. If your offered rate is 8.8% it would be about ₹47,560.
How much total interest will I pay?
At 7.8% the total interest over 3 years is about ₹1,87,186, so you repay about ₹16,87,186 in all.