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Canara Bank ₹5 lakh Car Loan EMI for 5 Years
At the advertised starting rate of 7.8%, the EMI is about ₹10,090 a month, with total interest of about ₹1,05,424.
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) | ₹10,090 | ₹1,05,424 | ₹6,05,424 |
| 8.3% | ₹10,210 | ₹1,12,608 | ₹6,12,608 |
| 8.8% | ₹10,331 | ₹1,19,843 | ₹6,19,843 |
| 9.3% | ₹10,452 | ₹1,27,128 | ₹6,27,128 |
| 9.8% | ₹10,574 | ₹1,34,463 | ₹6,34,463 |
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 | ₹85,084 | ₹36,001 | ₹1,21,085 | ₹4,14,916 |
| Year 2 | ₹91,963 | ₹29,122 | ₹1,21,085 | ₹3,22,953 |
| Year 3 | ₹99,398 | ₹21,687 | ₹1,21,085 | ₹2,23,555 |
| Year 4 | ₹1,07,434 | ₹13,650 | ₹1,21,085 | ₹1,16,121 |
| Year 5 | ₹1,16,121 | ₹4,964 | ₹1,21,085 | ₹0 |
Frequently asked questions
What is the EMI for a ₹5 lakh Canara Bank car loan for 5 years?
At Canara Bank's starting rate of 7.8% the EMI is about ₹10,090 a month. If your offered rate is 8.8% it would be about ₹10,331.
How much total interest will I pay?
At 7.8% the total interest over 5 years is about ₹1,05,424, so you repay about ₹6,05,424 in all.