Corporation Car Loan Rate, Eligibility Calculator, Apply Online

Corporation Bank Car Loan Offer Feb 2017

Last Updated 19th Feb 2017
Features and Eligibility Corporation Bank New Car Loan Scheme Corporation Bank Used Car Loan Scheme
Interest Rates 9.15% Floating Check Special Offer Not Available
Maximum Loan Amount Eligibility 85.00% of ex-showroom price Not Available
Maximum Loan Tenure (years) 7 years Not Available
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,617 Rs. 0
Processing Fee 1.00% Min Rs. 1000 Max Rs.
Prepayment Charges Nil Not Available
Interest Calculation Monthly reducing balance Not Available
Age (years) Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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Eligibility Condition for Corporation Bank Car Loan

Corporation Bank New Car Loan Scheme Corporation Bank Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 1.2 0.0
--Self employed professionals 1.2 0.0
--Self employed businessmen 1.2 0.0
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Corporation Car Loan

How much interest is charged by Corporation on car loan?

Corporation offers an interest of 9.15% to 9.90% on car loan.

What is the lowest EMI per lakh on Corporation car loan?

If you apply for a car loan from Corporation, your lowest EMI per lakh will be Rs. 1,617.

What is the maximum tenure of Corporation car loan?

You can repay your car loan from Corporation in a flexible period of maximum 7 years.

How much car loan I can borrow from Corporation?

Corporation offers you 85.00% of of ex-showroom price of car as loan.

How much processing fee is charged by Corporation on car loan?

Corporation charge a processing fee of 1.00% with applicable service tax.

Is age an eligibility factor to get car loan from Corporation?

Yes, age is an important eligibility factor to get Corporation car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on Corporation car loan?

You can take car loan from Corporation with Nil prepayment charges.

Can I add my spouse's income while applying for car loan from Corporation?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Corporation Car Loan Calculator News - Feb 2017
07th Dec 16 Corporation Bank bags Best MSME Bank award
Corporation Bank has received Best MSME Bank award 2016. The award was instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) at SMEs Excellence Award 2016 held at New Delhi on 6th December, 2016. Banks in this category were evaluated on the basis of growth, technology, innovation, CSR activity, targets and quality in MSME sector.
10th Aug 16 Corporation Bank Q1 Net Profit down Rs. 168 cr
As per Q1 FY17 results, Corporation Bank has registered a drop of 82.41 per cent in net profit to Rs. 35.92 crore in the June quarter of FY17 from Rs. 204.26 crore in the corresponding period of previous fiscal. The gross and net NPAs as a percentage stood at 11.52 per cent and at 7.22 per cent, respectively, during the June quarter of FY17. The net interest income of Corporation Bank stood at Rs. 1031.16 crore in the June quarter of FY17 from Rs. 1080.72 crore in the same period of previous fiscal.
09th Feb 16 Corporation Bank launches two new term deposit schemes
Corporation Bank has launched two new term deposit schemes, namely super gain plus and power plus which offer higher rate of interest to depositors
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