Canara Bank

Canara Bank

Overview

CAN Mobile is the Vehicle Loan given by Canara Bank for buying new or used four wheeler.For buying a brand new car, bring just 10% of the cost. Canara Bank will provide you loan upto 90% of the on road price. There is no ceiling on maximum loan amount.

Loan Feature

Loan Amount Upto 90% of the -on road price. There is no ceiling on maximum loan amount
Interest Rate 11%
Tenure 72 months.
Pre Payment Charges 2% on the outstanding liability in case of take over of the loan by other bank / FI
Service Charges

Processing Fee: 0.1% on the loan amount with a minimum of Rs.250/- and maximum of Rs.500/-.

Eligibility Criteria : Car Loan

Salaried persons, professionals and business people, with qualifying income and required repayment capacity. Reputed firms and corporates are also eligible
  Salaried Self
Age Minimum and maximum age Not Available Minimum and maximum age Not Available
Income Income Criteria Not Available Income Criteria Not Available
Job Experience Minimum Job Experience Not Available Minimum Job Experience Not Available
Residence Proof Minimum Duration of Stay Not Available Minimum Duration of Stay Not Available

Docs Required : Car Loan

  Salaried Self
ID Proof Passport or voter's card or driving licence or PAN card Passport or voter's card or driving licence or PAN card
Address Proof Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements Ration card or passport or latest electricity bill or latest telephone bill or latest credit card bill bank statements, last 6 months bank statements
DOB Proof Birth Certificate or 10th Class Passing Certificate Birth Certificate or 10th Class Passing Certificate
Financial Docs

Salaried Individuals:

  • Latest 3 months Bank Statement (where salary/income is credited)
  • 3 Latest salary slips
  • Proof of Continuity current job (Form 16 / Company appointment letter )
  • Proof of Qualification Highest Degree (for Professionals / Govt employees)

Self employed (Professionals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Qualification proof of the highest professional degree

Self Employed (Individuals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Audited latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs.
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
  • Other Mandatory Documents(Sole Prop. Decl. Or Cert. Copy of Partnership Deed,Cert. Copy of MOA, AOA & Board resolution.)

 

 

Other Charges : Car Loan

Commission on solvency certificate shall be at the rate of 0.10% with a minimum of Rs. 500/- and maximum of Rs. 10000/- per certificate.

Products offered by Canara Bank

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