Monthly EMI  ₹ 
Principal amount  ₹ 
Total interest  ₹ 
Total amount  ₹ 
Along with various other products and services, Canara Bank is also known to offer car loans to its customers. The car loan that is borrowed with Canara Bank needs to be paid off through equated monthly installments, which are commonly known as EMIs.
These EMIs can be estimated by using Canara Bank's car loan EMI calculator online.
The Canara Bank Car Loan EMI calculator  is a useful online instrument that will let you calculate the monthly installments that you will have to pay every month towards the loan you have or want to borrow from Canara Bank for a car. This tool can also eliminate all the possibilities of human errors from manually calculating the EMI amount on a Canara Bank car loan.
The calculator can be used on the website of Groww whenever wanted, and also for free of cost. On the Groww website, you will not be asked to sign in, log in or register to use the online tool. This tool can estimate the EMI you need to pay only after entering some minor information.
The Canara Bank Car Loan calculator can be used by all customers and noncustomers of the Bank to check their EMIs online. It will help them to know when to borrow, how to borrow, the deposit to make, and also the Tenure to choose based on this online tool. The calculator will assist you in instantly calculating the monthly EMI for a car loan from Canara Bank.
The calculator could also be used to estimate the monthly budget, the interest incurred on loans based on the rate of interest charged by the Bank, and much more. The calculator will show you answers instantly, and the user need not have any technical skills in order to use this online tool for free.
Groww's calculator can be used online instantly just by adjusting some primary information, and they are:
1) The Principal Amount
It is the amount that you want to borrow from Canara Bank to buy your car.
2) The Tenure
This is the period for which you choose to pay off your EMIs for the loan.
3) The Interest Rate
This is the interest rate that Canara Bank will charge on your loan.
After providing these basic information sets, you will be displayed with the EMI and interest on your car loan from Canara Bank.
The EMI for Canara Bank car loans can be calculated with a standardized formula, and that is:
[PxRx(1+R)^N]/[(1+R)^N1]
P  the Principal amount
R  the Rate of Interest on the loan
N  the Tenure of the loan
It can be better demonstrated with an example 
If Mr Gautham opted for a car loan of Rs. 7,50,000 from Canara Bank for the rate of 8.5% for a period of 5 years in June 2022. This would be the EMI amount:
P = Rs. 7.5 lakhs
R = 8.5%
N = 5 Years (60 months)
EMI = [7,50,000 x 12/100/12 x (1+8.5/100/12)^60] / [(1+8.5/100/12)^601]
EMI = Rs. 15,387
Here is the table that presents the breakup of the principal amount, interest, and outstanding periodically:
Year 
Total Payment 
Loan Outstanding 

2022 
Rs. 92,322

Rs. 6,88,472 

2023 
Rs. 1,84,644

Rs. 5,57,317 

2024 
Rs. 1,84,644

Rs. 4,14,569 

2025 
Rs. 1,84,644

Rs. 2,59,203 

2026 
Rs. 1,84,644

Rs. 90,104 

2027 
Rs. 92,352

Rs. 0 
There are several advantages of using the Canara Bank car loan EMI calculator, and the major of them are:
This is a free tool, and you can use it without having to register or sign in.
This online instrument can be used as many times as wanted and from any location.
The EMI amount consists of the principal amount and the interest incurred on the principal amount.
This calculator could be used in order to set different tenures and amounts to know what would suit you the best.
The amortization table will show you the break up of your car loan that was borrowed from Canara Bank.