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Business, & agriculture finance

Canara Auto Component

Area-specific fund-based and non-fund-based finance for Tier I/II automotive-component suppliers, with limits above ₹25 lakh and minimum 75% collateral coverage.

Facility amountMinimum loan above ₹25 lakh; fund-based working-capital/term loans and non-fund BC, LC and FLC limits are available.RateMinimum RLLR p.a.; maximum RLLR + 0.80% p.a., subject to risk rating and collateral value.Customer typeTier I and Tier II suppliers of OEMs (Original Equipment Manufacturers); eligible individuals, proprietary/partnership firms, LLPs and companies excluding NBFCs.
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Quick eligibility check

Canara Auto Component

0 of 7 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Tier I and Tier II suppliers of OEMs (Original Equipment Manufacturers)?

Published source: Customer type

2Do you meet this requirement: eligible individuals, proprietary/partnership firms, LLPs and companies excluding NBFCs?

Published source: Customer type

3Do you meet this requirement: Applicant must be an eligible individual, proprietary/partnership firm, LLP or company (excluding NBFC), already in automotive-component activity for at least one year and risk-rated up to Moderate Risk?

4Document checkDo you have this required document or proof: Customer identification and NF998 MSME application?

Published source: Documents

5Document checkDo you have this required document or proof: Unit and promoter address proof?

Published source: Documents

6Document checkDo you have this required document or proof: Licences/permissions?

Published source: Documents

7Document checkDo you have this required document or proof: Last three years financial papers with ITR and projections?

Published source: Documents
0 of 7 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 4 Sept 2026 · active
Offered byCanara Bank

India; currently implemented in Ahmedabad, Chandigarh, Chennai, Karnal, Pune and Ranchi Circles

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Customer typeTier I and Tier II suppliers of OEMs (Original Equipment Manufacturers); eligible individuals, proprietary/partnership firms, LLPs and companies excluding NBFCs.View source
Complete target-group and eligible-entity rows reviewed.
Source
Canara Auto Component
Page / section
Target group and facility
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Turnover / vintageFirm or company must already be engaged in automotive-component activity for at least one year; no numeric turnover floor is published.View source
Complete eligibility and risk-rating conditions reviewed.
Source
Canara Auto Component
Page / section
Eligibility conditions
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Facility amountMinimum loan above ₹25 lakh; fund-based working-capital/term loans and non-fund BC, LC and FLC limits are available.View source
Complete facility and quantum rows reviewed.
Source
Canara Auto Component
Page / section
Nature of facility and quantum
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
RateMinimum RLLR p.a.; maximum RLLR + 0.80% p.a., subject to risk rating and collateral value.View source
Published minimum and maximum rows reviewed.
Source
Canara Auto Component
Page / section
Rate of interest
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
TenureWorking-capital limits are tenable for one year; term-loan tenor is need-based up to seven years including repayment holiday.View source
Current scheme tenability terms reviewed.
Source
Canara Auto Component
Page / section
Tenability
Accessed
4 Sept 2026
Confidence
medium
Open official source ↗
Security / marginMargin follows extant guidelines. Primary security is assets created from bank finance; at least 75% of exposure must be secured by collateral such as immovable property, deposits or approved securities. CGTMSE applies as per guidelines.View source
Complete margin/security/coverage rows reviewed.
Source
Canara Auto Component
Page / section
Margin, security and
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Fees50% concession from applicable processing charges; the underlying charge schedule is linked rather than numerically printed on this page.View source
Published concession row reviewed.
Source
Canara Auto Component
Page / section
Processing charges
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
DocumentsCustomer identification with NF998 MSME application, unit/promoter address proof, licences/permissions, three years financial papers with ITR/projections, guarantor asset details and stock statement.View source
Complete document list reviewed.
Source
Canara Auto Component
Page / section
Documents
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Geographic limitsScheme is stated as PAN India but currently implemented in Ahmedabad, Chandigarh, Chennai, Karnal, Pune and Ranchi Circles.View source
Complete circle list reviewed.
Source
Canara Auto Component
Page / section
Geographic availability
Accessed
4 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • Fund-based working capital and term loans
  • Non-fund //FLC limits for machinery
  • Minimum facility above ₹25 lakh
  • Minimum 75% collateral coverage
  • 50% concession on applicable processing charges
  • to + 0.80%

Eligibility

  • Applicant must be an eligible individual, proprietary/partnership firm, or company (excluding ), already in automotive-component activity for at least one year and risk-rated up to Moderate Risk.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Customer identification and NF998 application
  • Unit and promoter address proof
  • Licences/permissions
  • Last three years financial papers with and projections
  • Guarantor details and asset proof
  • Stock statement

Related official documents

Canara MSME Auto Componentofficial-product-page · current · accessed 4 Sept 2026
↗

Plan before applying

Try the numbers

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Loan repayment estimate

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One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

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Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Auto Component · Eligible customerTier I/II OEM suppliers

This value is copied from Canara automotive-component and agricultural-drone finance. Check the table notes before relying on it.

Source: Canara Auto Component and Canara Drones pages · Complete product tables Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 2 rows · 7 columnsCanara automotive-component and agricultural-drone financeView tableHide table

Scroll sideways to view every column

Canara automotive-component and agricultural-drone finance
ProductEligible customerFacility amountRateSecurity / marginRepaymentFees
Auto ComponentTier I/II OEM suppliersAbove ₹25 lakh; FB and NFB limits to + 0.80%At least 75% collateral; margin as guidelinesWC 1 year; TL up to 7 years50% concession
Canara DronesOwn-use farmers or rental operators75% of cost; ₹12 lakh up to 2 drones / ₹25 lakh above 2Not published on scheme page25% margin; hypothecation; land/liquid collateral or /Up to 5 years incl. 6-month moratoriumNot published
Canara Auto Component and Canara Drones pages · Complete product tables · accessed 4 Sept 2026Open official source ↗

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