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Business, & agriculture finance

Canara Vahan

Term finance for new and eligible used commercial vehicles, from ₹5 lakh to ₹50 lakh, with 84-month fuel-vehicle or 60-month electric-vehicle repayment options.

Facility amountBrand-new vehicles: no minimum ceiling and maximum ₹50 lakh; second-hand non-electric vehicles: minimum ₹5 lakh and maximum ₹25 lakh.RateBrand-new vehicles: RLLR + 0.90% p.a. floating; used vehicles: risk-rating credit-risk premium over RLLR.Customer typeExisting/new MSME borrowers and registered transport operators organised as individuals, firms, companies, LLPs, trusts or societies in manufacturing, services or retail trade.
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Quick eligibility check

Canara Vahan

0 of 6 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: Existing/new MSME borrowers and registered transport operators organised as individuals, firms, companies, LLPs, trusts or societies in manufacturing, services or retail trade?

Published source: Customer type

2Do you meet this requirement: used electric vehicles are not eligible?

3Document checkDo you have this required document or proof: Customer identification and NF998 MSME application?

Published source: Documents

4Document checkDo you have this required document or proof: Unit/promoter address proof?

Published source: Documents

5Document checkDo you have this required document or proof: Licences/permissions?

Published source: Documents

6Document checkDo you have this required document or proof: Last three years financial papers with ITR and projections?

Published source: Documents
0 of 6 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 4 Sept 2026 · active
Offered byCanara Bank

India through Canara Bank branches

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 typeExisting/new MSME borrowers and registered transport operators organised as individuals, firms, companies, LLPs, trusts or societies in manufacturing, services or retail trade.View source
Complete target group and entity list reviewed.
Source
Canara Vahan
Page / section
Target group
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Turnover / vintageNo numeric turnover or business-vintage floor is published; income-tax/GST assessee status, Udyam registration, satisfactory track record, CIC score of at least 650 and average gross DSCR of at least 1.50 are required.View source
Complete eligibility section reviewed; numeric credit-score and tests are published but no turnover floor.
Source
Canara Vahan
Page / section
Eligibility
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Facility amountBrand-new vehicles: no minimum ceiling and maximum ₹50 lakh; second-hand non-electric vehicles: minimum ₹5 lakh and maximum ₹25 lakh.View source
Complete new/used vehicle quantum rows reviewed.
Source
Canara Vahan
Page / section
Quantum of loan
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
RateBrand-new vehicles: RLLR + 0.90% p.a. floating; used vehicles: risk-rating credit-risk premium over RLLR.View source
Published new/used vehicle pricing rows reviewed.
Source
Canara Vahan
Page / section
Rate of interest
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
RepaymentNew fuel-based vehicles up to 84 EMIs; new electric vehicles up to 60 EMIs; used fuel-based vehicles up to 36 EMIs.View source
Complete repayment rows reviewed.
Source
Canara Vahan
Page / section
Repayment period
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Security / marginNew-vehicle margin 25% on-road cost; used non-electric margin 50%. Loans up to ₹10 lakh have no collateral and are covered under CGFMU/CGTMSE; above ₹10 lakh requires 100% immovable/approved collateral or CGTMSE cover.View source
Complete margin, collateral and guarantee conditions reviewed.
Source
Canara Vahan
Page / section
Margin and security
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
FeesApplicable Canara service charges; no fixed numeric processing fee is printed on the reviewed scheme page.View source
Complete page reviewed; it links service charges but does not print a fixed scheme amount.
Source
Canara Vahan
Page / section
Charges
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
DocumentsNF998 MSME application, customer identification, address proof, licences/permissions, three years financial papers with ITR/projections, guarantor asset details, vehicle quotation and permit/registration records.View source
Published document list reviewed.
Source
Canara Vahan
Page / section
Documents
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Geographic limitsIndia through Canara Bank branches; financed land/building must have an approved building plan where offered as security.View source
National scheme page and security condition reviewed.
Source
Canara Vahan
Page / section
Availability and security
Accessed
4 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • New fuel/electric LCV, MCV, HCV, ambulance, cargo vehicle, auto, taxi, bus and caravan finance
  • New vehicles up to ₹50 lakh; used non-electric vehicles ₹5–₹25 lakh
  • + 0.90% floating rate for brand-new vehicles
  • Minimum CIC score 650 and average gross 1.50

Eligibility

  • Borrower must be an income-tax and/or assessee, have Udyam registration, satisfactory banking track record, minimum promoter CIC score 650 and average gross 1.50; used electric vehicles are not eligible.

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

Documents the bank lists

  • Customer identification and NF998 application
  • Unit/promoter address proof
  • Licences/permissions
  • Last three years financial papers with and projections
  • Guarantor asset details
  • Vehicle quotation and registration/permit records

Related official documents

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

Plan before applying

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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.

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Vahan · Eligible customer transport operators

This value is copied from Canara specialised finance terms. Check the table notes before relying on it.

Source: Canara Vahan and Start Up 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 specialised MSME finance termsView tableHide table

Scroll sideways to view every column

Canara specialised MSME finance terms
ProductEligible customerFacility amountRateSecurity / marginRepaymentFees
Vahan transport operatorsNew up to ₹50 lakh; used non-electric ₹5–₹25 lakhNew + 0.90%; used risk-based premium25% new/50% used; no collateral up to ₹10 lakh; 100% above or 84 new fuel / 60 new electric / 36 used Service-charge schedule; fixed fee not published
Canara Start Up-recognised start-upsAbove ₹10 lakh to ₹20 croreRisk/security-linked ; fixed percentage not published20% TL/WC, 15% NFB; hybrid CGSS/ for uncovered portionWC 1 year; TL up to 10 years incl. 36-month moratoriumAs per scheme guidelines
Canara Vahan and Start Up pages · Complete product tables · accessed 4 Sept 2026Open official source ↗

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