Bank of Baroda India - Car Loans
Basic Information:
Bank of Baroda offers car loans to help customers purchase their dream vehicle. The bank provides competitive interest rates and flexible repayment options.
Eligibility Criteria:
- Indian residents aged between 21 and 65 years
- Salaried or self-employed individuals with a stable source of income
Features and Benefits:
- Loan amount up to 90% of the car's on-road price
- Flexible repayment tenure ranging from 1 to 7 years
- Attractive interest rates
- Quick approval process
- No prepayment charges
Documents Required:
- Identity proof (Aadhar card, passport, PAN card, etc.)
- Address proof (Driving license, utility bill, Aadhar card, etc.)
- Income proof (Salary slips, bank statements, ITR, etc.)
- Passport-sized photographs
Application Process:
Customers can apply for a car loan from Bank of Baroda by visiting their nearest branch or by applying online through the bank's website. The process is simple and hassle-free.
Interest Rates:
The interest rates for car loans from Bank of Baroda are competitive and vary based on the loan amount, tenure, and applicant's credit profile.
Customer Support:
For any queries or assistance related to car loans, customers can contact Bank of Baroda's customer support team at their toll-free number or visit the nearest branch for personalized guidance.
Frequently Asked Questions about Bank of Baroda Car Loans
1. What are the eligibility criteria for applying for a car loan from Bank of Baroda?
Applicants must be Indian citizens between the ages of 21 and 70, with a minimum annual income of Rs. 2.5 lakhs for salaried individuals and Rs. 4 lakhs for self-employed individuals.
2. How much loan amount can I get for buying a car from Bank of Baroda?
Bank of Baroda offers car loans of up to 90% of the on-road price of the vehicle, with a maximum loan amount of Rs. 1 crore.
3. What is the repayment tenure for Bank of Baroda car loans?
Customers can choose repayment tenures ranging from 1 to 7 years, depending on their convenience.
4. Is there any processing fee for applying for a car loan from Bank of Baroda?
Yes, a processing fee of up to 0.50% of the loan amount is applicable, with a minimum of Rs. 1,000 and a maximum of Rs. 10,000.
5. Can I prepay my car loan from Bank of Baroda?
Yes, customers can prepay their car loans at any time without any penalty charges.
