Up to 100% of the ex-showroom price net of discounts
insurance and registration are excluded. Final amount depends on product and customer profile.
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6 months to 5 years (60 months)
tractor repayment may be quarterly or half-yearly under the common .
Value awaiting review
Individuals and non-individuals: private/public limited companies, partnerships, proprietorships, co-operative societies, trusts and Hindu Undivided Families
subject to the selected Wheels route.
New: up to 2% of loan amount
used: up to 3% of loan amount.
₹0.65 per ₹1,000, or part thereof, charged daily on the overdue instalment.
Floating: the current retail-rate schedule states 10.65%–13.40% p.a. on + Strategic Premium + 2.50%–5.25%
the dedicated pre-owned-car page still states 10.20%–12.95% p.a. for the same spread. Fixed: 11.90%–14.65% p.a. on 1-year + Strategic Premium + 2.90%–5.65%. The official pages also differ on the Group Credit Life Insurance loading
confirm the applicable rate with Bank of Baroda before applying.
+ applicable spread
the retail-loan table identifies -linked pricing for these vehicle-loan rows.
The lowest of 75% of latest market value, 75% of agreement/invoice value, or 100% of insured declared value ().
Maximum 60 months
repayment period plus vehicle age from the original invoice date must not exceed 96 months.
Salaried employees and pensioners: ₹2.50 lakh and above. Businessmen, professionals, directors and agriculture/allied applicants: ₹3.00 lakh and above.
Resident Indian individuals, including salaried employees, pensioners, self-employed professionals, businessmen, private/public-company directors and persons in agriculture/allied activities. Minimum age 21
maximum age 70 at the end of repayment. Minimum CIBIL score 701
score −1 may also be considered. Existing customers with a -compliant account for at least six months may not need fresh .
0.50% of loan amount plus
minimum ₹2,500 plus and maximum ₹10,000 plus .
Floating rate: nil. Fixed rate: nil part-payment up to cumulative ₹40,000 within the first 2 years and nil after 2 years
2% plus applies to the entire prepaid amount when the ₹40,000 threshold is exceeded in the first 2 years or when the account is closed within the first 2 years.
Current floating table: 11.20% at CIBIL 750+, 11.55% at 700–749, 12.05% at 650–699, 13.05% at 600–649, 14.05%below 600 and 12.05% for -1/0/01–05.
, shown as 8.05%, plus 3.15%–6.00% according to band.
₹2 lakh minimum and ₹50 lakh maximum
finance is the lowest of eligible assessment, 70% of certified market/invoice value or 100% of insured declared value.
Maximum 60 months.
Salaried and other individual applicants: ₹3 lakh last-year income with two years' /Form 16. Eligible Government/ pensioners need ₹25,000 monthly pension.
Value awaiting review
0.50% of loan amount, minimum ₹500
account-handling charge 0.20%, minimum ₹1,500 and maximum ₹10,500, excluding .
No prepayment charge for floating-rate retail loans to individuals under the current service-charge rule.
Fixed-rate table for Canara Vehicle four-wheelers: effective rates are 8.70%–10.85% p.a. for women borrowers and 8.75%–10.85% p.a. for other borrowers across CRG-PRIME/CRG 1–4.
Repo Linked Lending Rate (), 8.00% w.e.f. 12 March 2026
fixed vehicle rates add a 0.75% fixed-rate premium and CRG risk spread.
No upper limit for new vehicles, subject to eligibility and repayment capacity. Pre-owned cars may receive up to ₹50 lakh subject to required margin
new vehicles can be financed up to 90% of cost.
New vehicles: maximum 84 months. Pre-owned vehicles: maximum 60 months or remaining useful life, whichever is lower.
Salaried and other-than-salaried individual applicants need minimum gross annual income of ₹3 lakh
non-salaried applicants also need three-year gross-average annual income of at least ₹2.50 lakh.
Value awaiting review
0.25% of loan amount, minimum ₹1,000 plus and maximum ₹5,000 plus . A 50% processing-charge waiver is published for 1 July 2026 to 30 September 2026.
7.55% to 8.85% p.a. floating for IB Vehicle Loan in Indian Bank's current rate table
separate rows also list Eco Vahan at 7.50%–8.75%, used-car purchase at 9.55%–11.65% and two-wheelers at 8.90%–10.40%.
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The current vehicle-loan rate rows are labelled floating but do not identify a named benchmark or spread.
New car up to ₹5 crore
new two-wheeler up to ₹10 lakh
used car up to ₹3 crore.
New car maximum 84 months
new two-wheeler maximum 48 months
used car maximum 72 months.
New car: salaried gross monthly income ₹25,000
pension ₹20,000 monthly
professional/self-employed/business net annual income ₹3 lakh. New two-wheeler: salaried net salary ₹10,000
pension ₹10,000
professional/self-employed/business net annual income ₹1.50 lakh. Used car: salaried net salary ₹20,000
pension ₹20,000
professional/self-employed/business net annual income ₹3 lakh. Firms and companies must have generated net profit during the last two years.
Salaried, professional, businessman, self-employed, , pensioner and eligible bank employees with NOC can apply, subject to the vehicle-specific income table and the bank's appraisal.
New car: ₹1,200 plus . New two-wheeler: 1% of loan amount. Used car: 1% of loan amount, capped at ₹10,000
applies as stated in the schedule.
Nil prepayment charge for individual borrowers
2% of outstanding balance for non-individual borrowers, as stated on the current vehicle-loan page.
the scheme rate is fixed at disbursement and does not reset with .
₹2 lakh to ₹1.5 crore
10 years minus vehicle age, capped at 60 months
₹3 lakh for salaried, self-employed, professional and business applicants
Value awaiting review
1.50% of loan amount
minimum ₹3,000 and maximum ₹10,000, plus .
Certified Pre-Owned Car Loan prepayment costs 1% of the pre-payment amount plus , charged quarterly, within two years of disbursement. Foreclosure costs 3% of theo-balance plus within two years.
Green marks the most favourable compatible published number or range in each column; incomparable units and overlapping range trade-offs remain neutral. It does not account for eligibility, service, exclusions or personal suitability.
