Canara Bank Used Car Loan Interest Rate 2026
Canara Bank used car loan rates start at 8.7% p.a. — verified from the official Canara Bank website. Calculate your exact EMI below.
Six Lakhs rupees
One Lakh Fifty Thousand rupees
Four Lakhs Fifty Thousand rupees
Monthly EMI
₹9.28 K
Loan Composition
0.24x
You'll pay 0.24 times the principal as interest
Canara Bank Used Car Loan Rates & Charges (2026)
Official Canara Bank rate pageEvery figure below is taken from Canara Bank's own published rate card — not from third-party aggregators — and is re-checked by our daily rate tracker.
| Particulars | Canara Bank Used Car Loan |
|---|---|
| Interest Rate | 8.70% - 10.85% p.a. |
| Rate Benchmark | RLLR (8.00%) + 0.75% FRP + CRG-based premium |
| Processing Fee | 0.25% of loan amount, min Rs. 1,000 + GST, max Rs. 5,000 + GST |
| Foreclosure / Prepayment | No pre-payment penalty |
| Maximum Funding | Up to 60% of the car's valuation |
| Maximum Tenure | 5 years (60 months) |
| Maximum Vehicle Age | 3 years at purchase |
| Effective | RLLR w.e.f. 12.03.2026 |
- Canara states used cars are financed "at the same low interest rates" as new, so the new-car grid applies
- Funding capped at 60% of agreed price/valuation, max Rs. 50 lakh
Last verified against the official Canara Bank website on Sep 2026. Rates are updated when Canara Bank revises them.
How Canara Bank Compares (2026)
Used car loan rates across banks and NBFCs, from each lender's official rate card, sorted by lowest starting rate.
| Lender | Interest Rate (p.a.) | Est. Monthly EMI | Calculated Processing Fee | Total Payable (incl. fees & interest) |
|---|---|---|---|---|
| 8.70% - 10.85% | ₹8,245 | ₹1,180 | ₹4,95,880 | |
| 9.45% - 11.55% | ₹8,391 | Not published | ₹5,03,460 | |
| 9.45% - 13.00% | ₹8,391 | ₹1,500 | ₹5,04,960 | |
| 9.50% - 17.00% | ₹8,401 | Up to ₹4,000 | ₹5,08,060 | |
| 9.55% - 11.65% | ₹8,411 | Not published | ₹5,04,660 | |
| 9.75% - 16.90% | ₹8,450 | ₹9,440 | ₹5,16,440 | |
| 10.20% - 14.65% | ₹8,538 | ₹2,950 | ₹5,15,230 | |
| 10.40% - 11.15% | ₹8,578 | Not published | ₹5,14,680 | |
| 10.45% - 15.60% | ₹8,588 | ₹7,080 | ₹5,22,360 | |
| 11.20% - 14.05% | ₹8,737 | No processing fee | ₹5,24,220 | |
| 11.60% - 11.70% | ₹8,817 | Not published | ₹5,29,020 | |
| 11.99% - 18.00% | ₹8,896 | Up to ₹20,000 | ₹5,53,760 | |
| 12.95% - 14.55% | ₹9,091 | 1% + GST of loan amount or Rs. 6,000, whichever is higher | ₹5,45,460 |
Live figures calculated for ₹4,00,000 over 60 months. Rates and fee formulas sourced directly from each lender's official website (last verified 1 Sept 2026) and auto-refreshed. GST at 18% is added where charged by the lender.