Canara Bank reduces rate of interest on vehicle loans

Canara Bank has reduced the rate of interest on vehicle loans sanctioned on or after August 1, 2009.

The revised rate is 8.50 per cent for vehicle loans during first 12 months, 9.50 per cent during next 24 months, 10 per cent for period above 36 months to 60 months, a release said.

For a period of above 60 months it is 10.50 per cent, it added.