Official Rates • Updated Oct 2026Canara Bank Two Wheeler Loan Calculator 2026
Verified Canara Bank bike & scooter loan rates of 10.10% - 15.75% p.a. — calculate your EMI with down payment, total interest & repayment schedule.
Interest Rate
10.10% - 15.75%
RLLR 8.00% w.e.f. 12.03.2026 + credit risk premium
Processing Fee
0.25% of loan amount (minimum Rs.1,000 + GST, maximum Rs.5,000 + GST); 100% waiver from 01.10.2026 to 31.12.2026 (Canara Vehicle page)
≈ ₹1,180 for current loan
Max Funding
As sanctioned
Per lender policy
Loan Tenure
Up to 60 months
5 years max
Bike Loan Calculator
Calculate Your Two Wheeler EMI Instantly
Plan your bike, scooter, or electric two-wheeler purchase with our compact EMI calculator – quick, simple, and always on top!
₹
One Lakh Twenty Thousand rupees
₹
Twenty Thousand rupees
Canara Bank official range: 10.1% - 15.75%Verified from official website
%
10.1%15.75%
years
Monthly EMI
₹3.23 K
for 3 years
Loan Amount
₹1.00 L
Total Interest
₹16.33 K
Total Amount
₹1.16 L
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Canara Bank Foreclosure Charge Calculator
See exactly what closing this loan early would cost you — and whether the interest you save makes it worth it.
₹
EMIs paid when you close9 mos
035 months
Estimated Foreclosure Fee (%)3% + GST
Outstanding
₹77,754
Foreclosure fee
₹2,752
3% of outstanding + GST
Total to close
₹80,506
Interest saved
₹9,494
Closing now leaves you ₹6,742 better off
₹9,494 interest avoided − ₹2,752 fee = ₹6,742 net benefit.
| Close after | Outstanding | Fee | Net benefit |
|---|---|---|---|
| 6 mos | ₹85,356 | ₹3,022 | ₹8,564 |
| 12 mos | ₹69,958 | ₹2,476 | ₹5,120 |
| 24 mos | ₹36,736 | ₹1,300 | ₹740 |
Official Canara Bank Foreclosure & Prepayment Terms
Published schedule of charges • Verified banking disclosure
Canara Bank publishes descriptive terms for preclosure charges. Use the fee percentage slider in the calculator above to model your exact payoff statement.
Verbatim Published Clause
“No prepayment charges (Canara Vehicle FAQ)”
18% GST Applicable: Prepayment & foreclosure fees attract 18% statutory GST as mandated by Government of India taxation rules.
Payoff Calculation: Estimates assume a monthly reducing balance. Official payoff statement from Canara Bank will include exact accrued interest up to the settlement date.
Canara Bank Two Wheeler Loan Interest Rate & Charges (2026)
Interest rate, processing fee, tenure and prepayment terms as published by Canara Bank
| Particulars | Canara Bank Two Wheeler Loan |
|---|---|
| Interest Rate | 10.10% - 15.75% p.a. |
| Rate Benchmark | RLLR 8.00% w.e.f. 12.03.2026 + credit risk premium |
| Processing Fee | 0.25% of loan amount (minimum Rs.1,000 + GST, maximum Rs.5,000 + GST); 100% waiver from 01.10.2026 to 31.12.2026 (Canara Vehicle page) |
| Foreclosure / Prepayment | No prepayment charges (Canara Vehicle FAQ) |
| Maximum Tenure | 60 months (5 years) |
| Effective Date | RLLR w.e.f. 12.03.2026 |
Important Notes
- Rates are from Canara's RLLR-linked and fixed-rate retail tables, row "Canara Vehicle (2 Wheelers)", which vary by credit risk grade (CRG 1 to 4).
- Canara's vehicle loan calculator shows a single "Interest Rate for 2 Wheeler (10.40%*)", which matches neither table.
- The Canara Vehicle product page lists only four-wheelers, so processing fee, prepayment and tenure (1-5 years, from the calculator) are not stated specifically for two-wheelers. No two-wheeler funding limit is published.
- Fixed-rate table: https://www.canarabank.bank.in/pages/interest-for-retail-lending-schemes-linked-to-fixed-rate-of-interest
Last verified against the official Canara Bank website on Oct 2026.
Canara Bank Two Wheeler Loan Scheme-wise Rates
Canara Bank publishes separate rates for these two wheeler loan variants.
| Scheme / Segment | Interest Rate (p.a.) |
|---|---|
| Floating (RLLR) - women borrowersBy credit risk grade CRG 1-4 | 10.10% - 15.00% |
| Floating (RLLR) - other borrowers | 10.15% - 15.00% |
| Fixed rate - women borrowers | 10.85% - 15.75% |
| Fixed rate - other borrowers | 10.90% - 15.75% |
Compare Canara Bank with Other Two Wheeler Loan Lenders (2026)
Bike loan interest rates from each lender's official website, sorted by lowest starting rate.
Comparing for₹1,00,000 (36 mo)
Sort by:
| Lender | Interest Rate (p.a.) | Est. Monthly EMI | Calculated Processing Fee | Total Payable (incl. fees & interest) |
|---|---|---|---|---|
| 8.86% - 22.00% | ₹3,173 | Up to ₹5,900 | ₹1,20,128 | |
| 8.90% - 11.70% | ₹3,175 | 1% on the loan amount (processing-fee page); the service-charges circular w.e.f. 01.01.26 lists Rs.1,000 irrespective of loan amount for the Vehicle Loan Scheme | ₹1,14,300 | |
| 9.00% - 13.35% | ₹3,180 | ₹1,000 | ₹1,15,480 | |
| 9.00% - 24.00% | ₹3,180 | Up to ₹5,000 | ₹1,19,480 | |
| 9.50% - 25.92% | ₹3,203 | Up to ₹5,000 | ₹1,20,308 | |
| 10.00% - 30.00% | ₹3,227 | Up to ₹5,000 | ₹1,21,172 | |
| 10.10% - 15.75% | ₹3,231 | Up to ₹1,180 | ₹1,17,496 | |
| 10.25% - 26.10% | ₹3,238 | Up to ₹4,000 | ₹1,20,568 | |
| 10.25% - 11.35% | ₹3,238 | Up to ₹500 | ₹1,17,068 | |
| 10.45% - 12.95% | ₹3,248 | ₹1,475 | ₹1,18,403 | |
| 10.50% - 12.90% | ₹3,250 | Up to ₹5,000 | ₹1,22,000 | |
| 10.50% - 11.50% | ₹3,250 | 0.50% of loan amount + GST (loan up to Rs.10 lakh); stamp duty at actual; log-in charges Rs.2,000 for applicant and Rs.1,300 for each co-applicant/guarantor (non-refundable) | ₹1,17,000 | |
| 10.75% - 13.65% | ₹3,262 | ₹2,360 | ₹1,19,792 | |
| 10.85% - 12.35% | ₹3,267 | Up to ₹590 | ₹1,18,202 | |
| 10.85% - 14.15% | ₹3,267 | Full waiver of processing charges on vehicle loans (product page) | ₹1,17,612 |
Live figures calculated for ₹1,00,000 over 36 months. Rates and fee formulas sourced directly from each lender's official website (last verified 8 Oct 2026) and auto-refreshed. GST at 18% is added where charged by the lender.
Canara Bank Bike Loan EMI: Worked Example
Live from the calculator above: a ₹1,20,000 bike with ₹20,000 down payment, financed at 10.1% p.a. for 36 months.
Loan Amount
₹1,00,000
Monthly EMI
₹3,231
Total Interest
₹16,316
Processing Fee
≈ ₹1,180
Canara Bank Two Wheeler Loan EMI per ₹1 Lakh
EMI on a ₹1,00,000 loan at Canara Bank's lowest and highest published rate.
| Tenure | EMI @ 10.1% | EMI @ 15.75% |
|---|---|---|
| 12 months | ₹8,796 | ₹9,061 |
| 24 months | ₹4,619 | ₹4,884 |
| 36 months | ₹3,231 | ₹3,503 |
| 48 months | ₹2,541 | ₹2,821 |
| 60 months | ₹2,130 | ₹2,419 |
Before You Apply for a Canara Bank Two Wheeler Loan
- Compare the all-in cost, not just the rate. Processing fee, documentation charges and insurance bought through the dealer can add more than a 1% rate difference on a small bike loan.
- A bigger down payment cuts interest fastest. Bike loans are short, so every ₹10,000 less borrowed saves interest across the whole tenure.
- Check foreclosure terms. Many borrowers close bike loans early; Canara Bank's published terms are listed in the Rates & Charges table above.
- Typical documents: PAN, Aadhaar / address proof, income proof (salary slips or ITR), recent bank statements and the dealer's quotation. The vehicle is hypothecated to Canara Bank until the loan is closed, after which you get an NOC to remove it from the RC.
Canara Bank Two Wheeler Loan FAQs
Common questions about Canara Bank bike and scooter loan interest rates, EMI, charges and foreclosure in 2026.
What is the Canara Bank two wheeler loan interest rate in 2026?
Canara Bank's officially published two wheeler loan interest rate is 10.10% - 15.75% p.a. This is Canara Bank's published rate card for two wheeler loans.
What is the EMI for a ₹1 lakh Canara Bank bike loan?
At Canara Bank's lowest published rate of 10.1% p.a., the EMI on ₹1,00,000 is about ₹3,231 for 36 months or ₹4,619 for 24 months. Use the calculator above for your exact price, down payment and tenure.
What processing fee does Canara Bank charge on a two wheeler loan?
Canara Bank's published processing fee is: 0.25% of loan amount (minimum Rs.1,000 + GST, maximum Rs.5,000 + GST); 100% waiver from 01.10.2026 to 31.12.2026 (Canara Vehicle page).
Can I foreclose my Canara Bank two wheeler loan early?
Canara Bank's published foreclosure / prepayment terms: No prepayment charges (Canara Vehicle FAQ).
How much of the bike price does Canara Bank finance, and for how long?
Canara Bank does not publish a fixed funding percentage, repayable over up to 60 months.
How is the Canara Bank two wheeler loan EMI calculated?
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1], where P is the loan amount (vehicle price minus down payment), r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.