You will be able to avail car loans of up to Rs.100 lakhs at attractive interest rates. The repayment tenure of the car loan can be up to 7 years. Up to 90% of the on-road price of the car may be financed.
You will be able to avail car loans of up to Rs.100 lakhs at attractive interest rates. The repayment tenure of the car loan can be up to 7 years. Up to 90% of the on-road price of the car may be financed.
The main fees and charges that are levied by Bank of Baroda on their car loan are mentioned in the table below:
Category | Charges |
---|---|
Rate of interest | Starts from 7.25% p.a. (BLLR + Strategic Premium + interest rates ranging from 0.25% to 3.25% depending on the applicant’s risk rating.) |
Processing Fee | Rs.1,500 (plus GST) |
Foreclosure charges | Nil |
The main features of the Bank of Baroda Car Loan are mentioned in the table below:
The main benefits of the car loan provided by Bank of Baroda are mentioned below:
Various factors such as the processing fee, loan tenure, rate of interest, and loan amount are considered when calculating the EMI. You can use the myfreepaisa EMI Calculator to calculate the EMI.
The process to calculate the EMI is easy and can be completed quickly.
On Bank of Baroda website
Visiting the bank branch
You will also be able to download the application form on the Bank of Baroda website and submit it at the bank branch. The form can be downloaded from here. All relevant details must be filled before the form is submitted.
The below-mentioned individuals will be able to avail a car loan from Bank of Baroda:
The car loan can be used for the purchase of new Sports Utility Vehicles (SUVs), Multi Utility Vehicles (MUVs), and passenger cars for private use.
The eligibility criteria that must be met in order to avail a car loan from Bank of Baroda are mentioned below:
The documents that must be submitted by salaried employees and self-employed individuals are different. The documents that must be submitted are mentioned below:
Self-employed
Salaried
You can contact the bank to check if any other documents need to be submitted.
Name of the Bank | Interest Rate (p.a.) |
---|---|
State Bank of India | 7.70% onwards |
HDFC Bank | 7.95% onwards (Rack Interest) |
Axis Bank | 8.65% p.a. onwards |
ICICI Bank | 7.90% p.a. onwards |
Canara Bank | 7.30% p.a. onwards |
Federal Bank of India | 8.50% p.a. onwards |
Union Bank of India | 7.25% p.a. onwards |
You can also make product inquiries and complaints online on the Bank of Baroda website.