To take a car loan, you can also take a loan from the country's government bank Canara Bank. Canara Bank offers car loans to its customers at a very good interest rate. Let's know about the details of car loan from Canara Bank.

Everyone dreams of buying their own car. Every person wants to have his own car but buying a car is a big deal for a common man. Lakhs of rupees are needed to buy a car, which is a very big amount. In such a situation, many people take a car loan from the bank to buy a car and fulfill their dream of buying a car.

Car loans are offered by different banks of the country at different interest rates. In such a situation, you should choose a bank in which you get a car loan at a very low interest rate. To take a car loan, you can also take a loan from the country's government bank Canara Bank. Canara Bank offers car loans to its customers at a very good interest rate. Let's know about the details of car loan from Canara Bank.

Canara Bank Car Loan

Canara Bank offers car loans to its customers at an interest rate starting from 8.45 percent. If your CIBIL score is good, then you will get a car loan at this interest rate. On the other hand, if your CIBIL score is low, then you may have to take a loan at a higher interest rate.

Monthly EMI on a car loan of 10 lakhs

If you take a car loan of 10 lakhs from Canara Bank for a full 5 years, then you will have to pay Rs 20,492 every month as EMI at an interest rate of 8.45 percent. In such a situation, in the entire 5 years, you will pay a total of Rs 12,29,547 to the bank, out of which only Rs 2,29,547 will be your interest.