Bank of India

Bank of India is known as a commercial bank with headquarters at Bandra Kurla complex in state Mumbai. Besides that, it comes in the list of top 5 banks in India. Bank of India set up in the 1906 year. It has been government-owned since nationalization in the year of 1969. Bank of India (BOI) has 5100 branches as well as including 56 offices out of the country. 

Bank of India Car Loan

Own your car with car loans from Bank of India.

Get a car loan by Bank of Baroda to purchase a vehicle of your choice. With the help of a car loan, you can buy a hatchback, sedan, MUV, SUV, sports car or a luxury car of your choice with a minimum rate of interest. Bank Of Baroda car loans is available to salaried employees, Self-employees, professionals, corporates as well as NRIs & PIOs. We you apply for car loan with Dialabank we offer attractive interest rates on car loans with up to 90% financing, making our loans the ideal choice for funding your brand-new car.

Bank of India Car Loan Highlights

1. Affordable
2. Simple and Hassle free
3. Easy to pay back
4. Flexibility of payment
5. Speedy Approval in 4 hours
6. Minimum Documentation
7. Attractive Interest Rates
8. Check your Credit Score

Bank of India Car Loan Interest Rate

New Car Interest Rate

Amount Less than 3 lacs 
Interest Rate 10.25 to 10.15
Average 10.5
Amount 3 – 6 lacs
Interest Rate 9.50 to 10.25
Average 9.75
Amount 6 – 10 lacs
Interest Rate 9.25 to 9.75
Average 9.5
Amount  10 – 20 lacs
Interest Rate  9.10 to 9.65
Average - 9.35
More than 20 lacs 
Interest Rate of 8.90 to 9.25
Average – 9

Used Car Interest Rate & Loan Against the Car 

Interest Rate  13% – 16%
Average   14%

Bank of India Car Loan Tenure 

New Car Loan –  Minimum 2 year - Maximum 7 year

The used car loan and Loan against the car – Minimum 2 year - Maximum 4 year

Bank of India Car Loan Charges  

 Pre-closer charges – 0 – 2.5%

 Processing Fee – 0 to 3 %

When you apply for Bank of India Car Loan through Dialabank?

1. We offer a speedy service. The max. loan amount is up to 90% of the ex-showroom price of the car
2. Loan to value (LTV) of up to 90% of the ex-showroom price of the vehicle
3. Repayment period ranges from 1 - 5 years
4. Loans are approved within an hour after the documentation process
5. Prepayment is allowed after six months from the disbursement of the loan

Tenure of Car Loan 

The banks / NBFCs give different time to different loans.
For New car loans - the time of the loans is between 2 and seven years.
For used car loans & loans against the car, the tenure is between 2 and four years.

Eligibility to avail car loan from Bank of India 

The eligibility criteria of the borrower are different for the employed as well as self-employed applicants.
For Salaried
Firstly, age should be in between 21 - 60 years.
For Self Employed
Firstly the age of the borrower should be 30 yrs but if less than 30 yrs one co-applicant is required.
Secondly, the borrower should be running the business for the last two years at least.
Lastly, the ITR (income tax report) of the applicant’s business should be more than RS 2.5 Lacs for the last two years.

Documentation of Car Loan 

Firstly, the identity proof can be given by using any KYC documents it can be your Voter ID Card/ Passport /Aadhar Card/ PAN Card.
Secondly, the residence proof is required it can be your Voter ID Card/ Passport utility bills/ Aadhar Card/ PAN Card/ rental agreement/ any other utility bill.
Lastly, for the income proof, the applicants who are salaried can show the form 16 and bank statement of the last six months. Besides, that applicants who are self-employed can show the ITRs of the previous two years.

Bank of India Car Loan Benefits

1. Firstly up to 80-85% funding available for used cars

2. Secondly up to 90-95% funding available for new vehicles

3. Thirdly Loan tenure is usually between 1 yrs -7 yrs

4. Moreover, The rate of interest is calculated by compound interest

5. As well as EMI’s for repayment

6. All above, Benefits for the internal customer in the rate of interest

How to Apply for Bank of India Car Loan

1. Firstly visit
2. Secondly, Fill the online application form 
3. Thirdly, Enter the basic information in the above application form.
4. After that, For more information call 7707861526 or 60011600 with your city code.
5. The process is very easy and simple.


Ques.  Does Dialabank charge me for its services?

Ans: No, Services by Dialabank come to you free of cost.

Ques. A Best online platform for availing  Bank of India Car Loan?

Ans: Firstly Dialabank is the best platform to get a loan through. Secondly, they provide you hassle-free process as well as the low rate of interest in the market as compared to others.

Ques. How much processing fee for a Bank of India Car Loan?

Ans Processing fee started at 0 -3%.

Ques. In Bank of India Car Loan can I avail EMI facility?

Ans Yes, he /she can avail Term Loan with EMI as repayment type for the tenures of 2 years to 7 years.

Ques. Whom do I contact for more details?

Ans Call us (enter area code) 600-11-600 or 7707861526 for more details.

Ques. How much funding can I expect in terms of the car loan?

Ans Firstly this factor differs from bank to bank. Besides that, few banks offer the complete 100% funding.

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Used Car Loan EMI Calculator

SIP Calculator
EMI Calculator SIP Calculator

Call us on 600 11 600 (Single Number across 18 Cities)

Delhi | Mumbai | Kolkata | Bangalore | Hyderabad | Ahmedabad | Chandigarh | Jalandhar | Ludhiana | Chennai | Pune | Jaipur | Lucknow | Baroda | Surat | Indore | Coimbatore | Bhopal