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Canara Bank ₹8 lakh Car Loan EMI for 3 Years
At the advertised starting rate of 7.8%, the EMI is about ₹24,995 a month, with total interest of about ₹99,832.
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) | ₹24,995 | ₹99,832 | ₹8,99,832 |
| 8.3% | ₹25,180 | ₹1,06,478 | ₹9,06,478 |
| 8.8% | ₹25,365 | ₹1,13,154 | ₹9,13,154 |
| 9.3% | ₹25,552 | ₹1,19,859 | ₹9,19,859 |
| 9.8% | ₹25,739 | ₹1,26,593 | ₹9,26,593 |
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 | ₹2,46,223 | ₹53,721 | ₹2,99,944 | ₹5,53,777 |
| Year 2 | ₹2,66,130 | ₹33,814 | ₹2,99,944 | ₹2,87,647 |
| Year 3 | ₹2,87,647 | ₹12,297 | ₹2,99,944 | ₹0 |
Frequently asked questions
What is the EMI for a ₹8 lakh Canara Bank car loan for 3 years?
At Canara Bank's starting rate of 7.8% the EMI is about ₹24,995 a month. If your offered rate is 8.8% it would be about ₹25,365.
How much total interest will I pay?
At 7.8% the total interest over 3 years is about ₹99,832, so you repay about ₹8,99,832 in all.