Bank of Baroda Car Loan

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About Bank of Baroda Car Loan

Bank of Baroda Car Loan

Bank of Baroda (BoB) is known as an Indian multinational public sector banking as well as financial services company. That it is own by Government of India and headquartered in Vadodara city in the state of Gujarat. Moreover, it has a corporate office in city Mumbai of state Maharashtra.

The  Bank of Baroda was set up by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III on 20 July in the year 1908 in the Princely State of Baroda, in the state of Gujarat. The Bank of Baroda comes in categories of 3 other major commercial banks of the country.

What is Bank of Baroda Car Loan?

A car is no more luxury as it has become the basic necessity of life. But there are not many people who have adequate funds in their bank account to finance a vehicle. Usually, people prefer taking an auto loan.

Bank of Baroda Auto Loan is the best financial option that offers money to people to buy an expensive and luxurious vehicle at low-interest rates. It offers finance to people and helps them in converting their dream of owning a vehicle into reality.

Bank of Baroda 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  8.90 to 9.25

Average – 9

Used Car Interest Rate & Loan Against the Car 

Interest Rate  13% – 16%

Average   14%

Bank of Baroda 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 Baroda Car Loan Charges  

 Pre-closer charges – 0 – 2.5%

 Processing Fee – 0 to 3 %

Features and Benefits of a Bank of Baroda Car Loan

1. No upper limit to borrow money.

2. Loans available for new and second-hand vehicles

3. Repayment period as long as 7 years

4. Attractive interest rates

5. Affordable

6. Simple and Hassle free

7. Easy to pay back

8. Flexibility of payment

9. Speedy Approval in 4 hours

10. Minimum Documentation

11. Check your Credit Score

Bank of Baroda Car Loan Eligibility

Minimum age limit is 21 years and the maximum is 65 years

Employment: For Salaried 1 year in current employment / For Self- Employed at least 2 years in business

Annual Income: For Salaried Rs. 18000 per month/ For Self- Employed Rs. 18000 per month

Telephone: Must at the residence.

Bank of Baroda Car loan Documentation

Identity Proof- Aadhar card, PAN Card, Voters ID card, Driving License

Income Proof– For Salaried Latest salary slip of 6 months/ For Self- Employed Latest 1 year ITR

Address Proof– Ration card / Driving license / Voters card / Passport Copy / Telephone Bill / Electricity Bill etc.

Bank Statement: Last 6 months

Special Note: Banks do not provide Car Loan to bad credit holder, but one can fulfill their money requirement with Gold Loan easily.

How to Apply for the Bank of Baroda 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 Baroda 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 Baroda 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.

Used Car Loan EMI CalculatorSIP Calculator
EMI CalculatorSIP 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

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