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  • Canara

  • Green Wheels
  • No upper limit in loan quantum.
  • Upto 90% financing for new vehicle.
  • Minimal processing charges.
  • Lower Rate of Interest.
  • Reducing Balance Interest Rate.
  • No pre-payment penalty.
  • Quick loan approval & disbursement.
  • Avail Loan to buy Pre-Owned Vehicle.
  • Financing of 2nd & subsequent vehicle purchases.
For Individuals Purchase of New Electrical 4-Wheeler.
For Corporates Loan can also be availed by Companies / Firms for professional use i.e. purchase of vehicle for usage by their Directors / employees.
Quantum No upper Limit.
Processing charges
  • 0.25% on the loan amount with a minimum of Rs.1000/-+GST and maximum of Rs.5000/-+GST.
  • Bank is celebrating Retail Loan Festival and waiver of 100% processing charges from 01.10.2025 to 31.12.2025.
Repayment Tenure Maximum 84 EMIs
Margin
  • Up to Rs.25.00 lakh - 15%
  • Above Rs.25.00 lakh - 25%
  • All the individual borrowers/professionals/reputed firms/companies.
  • Individuals
    • Salaried Individuals Minimum gross salary of Rs 3.00 Lakh p.a.
    • Other than Salaried Individuals Minimum gross annual income of Rs.3.00 Lakh p.a. as per latest ITR/ITAO subject to 3 years Gross Average Annual Income of not less than Rs. 2.50 Lakh.
  • Corporates :
    With subject to the satisfactory credit worthiness in respect of firms/companies by their net worth, repaying capacity, etc.
  • In case of agriculturist, the total annual income of the applicant and/or co-applicant together should be a minimum of Rs 4.00 lakh.
  • Stipulated Loan Application with 2 passport size photos of applicant / Co-applicant or guarantor.
  • KYC documents of applicant/Co-applicant or guarantor.
  • Proof of Residence (Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
  • In case of salaried persons : Latest 6 months’ salary slips (including Co-applicants) and Form No.16 & ITR if any. supported by Employee ID/Appointment Letter/ Confirmation in services evidencing duration of the employment/3 years IT Returns & in case of NRI copy of work permit.
  • In case of self-employed persons : IT Returns filed for the past three assessment years along with Balancing sheet/Profit & Loss accounts if any.
  • Quotation of Vehicle from Authorized Dealer.
  • Valuation Report of Automobile engineer in respect of use vehicles (if applicable).
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Last updated on 12-12-2025 8:10 AM

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