If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Bank Of Baroda Car Loan

    Bank of Baroda Car Loan
     4.5 / 5.0   by 18 users
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    Bank of Baroda is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second-largest bank in India, after State Bank of India, and offers a range of banking products and financial services to corporate and retail customers through its branches and through its specialised subsidiaries and affiliates. Bank of Baroda offers a wide range of retail loans to meet your diverse needs. Whether the need is for a new house, child's education, purchase of a new car or home appliances, their unique and need specific loans will enable you to convert your dreams to realities. The Car Loans from Bank of Baroda are designed to finance the car that suits your need and matches to your status & taste. Bank of Baroda also presents a unique add on facility for installation of CNG / LPG gas-kit in new/old (not more than 3 years) four wheeler. Save money. Save earth. Convert to alternative fuel today and bank on them for your financial requirements. Continue reading to view more details about this loan.


    You’re probably eligible for an Bank of Baroda Car Loan if you are

    01
    02
    03
    04
    Bank of Baroda Car Loan Minimum Age

    At least 21 years old

    Bank of Baroda Car Loan Maximum Age

    Less than 65 years old

    Bank of Baroda Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Bank of Baroda Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your Bank of Baroda Car Loan amount eligibility is based on these factors

    01
    02
    03
    Bank of Baroda Car Loan Minimum Salary

    Earn more than the minimum
    income required

    Bank of Baroda Car Loan Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    Bank of Baroda Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Bank of Baroda Car Loan amount by these steps

    01
    02
    Bank of Baroda Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Bank of Baroda Car Loan Maximum Tenure

    Choose longer tenure loan up to 7 years


    Documentation needed to apply for an Bank of Baroda Car Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Bank of Baroda Car Loan Interest RatesUpdated on 06 Jul 2015

    Bank of Baroda Car Loan Details
    Interest Rate (Monthly reducing balance) BR + 0.25% floating
    I-Base – 10.00%
    Processing Fees 0.50% Maximum Rs.10,000/-
    Loan Tenure 1 year to 7 years
    Pre Closure Charges Zero Prepayment

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    Bank Of Baroda Car Loan Reviews

    94 % of our customers would recommend this bank. (17 out of 18) Write Review
    Customer Reviews
    Page 1 of 1 1
    • Validated User
      (0)

      It was really easy for me to get a car loan with Bank of Baroda because the loan process was really fast which was done within 2hours.The documentation process and everything was simple and the interest rate offered was also really good.I have not much interacted with the customer service because it was really fast process.They applied different types of charges and I felt it was not mandatory.

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      yash took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (0)

      It was a good experience with Bank of Baroda. The interest rate offered was 10.5% given for car loan. Since I am an existing customer I dint face any issues to get my loan. Documentation process was very smooth. The processing fee has been waived off. approximately in a weeks time I got my car loan.

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      amol took a Car Loan from BANK OF BARODA Reviewed on
    • (0)

      Bank of Baroda car loan process is good. They have their own process it would be great if they reduce the number of documents which they have asked for. As they asked for IT returns for the last 3 years even for a car loan which I found really difficult. Interest rate offered by them was 10.25% which is really good. Guess the processing fee was nominal.

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      tanushri took a Car Loan from BANK OF BARODA Reviewed on
    • (0)

      Bank of Baroda car loan process is good. They have their own process it would be great if they reduce the number of documents which they have asked for. As they asked for IT returns for the last 3 years even for a car loan which I found really difficult. Interest rate offered by them was 10.25% which is really good. Guess the processing fee was nominal.

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      ghanshyam took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (0)

      Bank of Baroda car loan process is good. They have their own process it would be great if they reduce the number of documents which they have asked for. As they asked for IT returns for the last 3 years even for a car loan which I found really difficult. Interest rate offered by them was 10.25% which is really good. Guess the processing fee was nominal.

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      parthasarathi took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (0)

      Bank of baroda offered me the rate of interest of 10.5% for a car loan.As they offered me low rate of interest because I hold the fixed deposit and had long term relationship with this bank for 12 to 13 years.I got the loan disbursement within 24 hours of time itself.Its a nice experience.

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      dheeraj took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (3)

      I have taken a car loan with Bank of Baroda. They processed my loan very quickly.Rate of interest offered by them is fine. Bank of Baroda has offered me a tenure of 7 years where was other Bank does not. They have given a reducing rate of interest where as othe r Banks are offering a flat rate.

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      havish took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      It was a very good experience of availing a car loan from Bank of Baroda in the year 2013. I am not an account holder of the bank but they made it done within a week time. There was no much documentation and only two to three documents were collected from me. They were very transparent and they offered me an interest rate around 10% which is lower than that of private banks.

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      natraj took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      I had availed a car loan from Bank of Baroda in the month of Jul'2014. They were really good in terms of communication and the system of the loan process. They disbursed my loan within 3 days of time at a rate of interest of 10.5%. One thing I would like to highlight is there are no pre-closure charges at all. I was actually looking to avail the loan very quickly which was successfully done by Bank of Baroda.

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      tanmay took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      I am here to post a fair feedback about Bank of Baroda car loan, as there are some key difference between this bank and other banks. Bank of Baroda has given me the least rate of interest when compared with other Banks. I am allowed to make a lump sum payment after 6 months , which other Banks does not provide. Finally, the processing fee is nil, where as other Banks do charge some amount for processing fee.

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      meghal took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      I had a great experience of availing a car loan from Bank of Baroda last month. It was through the car dealer who made the loan process very simple. I had visited the bank only once for completing the documentation process and my loan was disbursed within 3 days of time. I am very much satisfied with the rate of interest of 10.15%.

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      tanmay took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      I have approached Bank of Baroda for the Car Loan it was very good, rate of interest is good foreclosure charges are ok, it was overall good. Customer should or must hold a Savings Account with them in order to them to take a car loan and I have nothing much to comment about them

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      yash took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      I could say Bank of Baroda was very good bank. Their Interest rates was lower for my car loan than other nationalised bank . Customer service was good and other follow ups service . No suggestions for them to improve their service. Overall good service

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      santhosh took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (3)

      Bank of Baroda did the formalities with much less number of documentation . I hardly given less documents . They are amazing customer service with car loan. Everything was quick infact I didnt have cheque books they give suggestion to give post date cheque for the car loan.

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      anshul took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (3)

      Bank of Baroda car loan is very good before he had given me the loan without its a hassle free loan my ideas he had directed me to take a loan he just visited my home and Itiitave is very good its better than the private bank no any kind of hidden charges no cheque bounces are there number of facilites are vailible there .

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      rakesh took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      Bank of Baroda was very supportive on my car loan application and successfully I have availed the loan last month. I have directly visited the branch and spoke to the bank people about the car loan. I have submitted all the documents to the branch and my loan was disbursed within 3 days. Best part is no processing fee and the rate of interest was 10.25%.

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      gaurav took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (2)

      Bank of Baroda car loan is fine and every thing is fine and I got the exact loan amount and I am happy with the interest rates and they have given options its very easy to make payment through ECS and there is no other hidden cost and I willl recommend it to my friends and relatives

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      vivek took a Car Loan from BANK OF BARODA Reviewed on
    • Validated User
      (6)

      Last month I have availed a car loan from Bank of Baroda. The rate of interest was just 10.5% which was very less when compared to other banks in the market. Part payments can be made without any charges. Pre-closure charges are also nil. All my current accounts are also with Bank of Baroda.

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      anju took a Car Loan from BANK OF BARODA Reviewed on
    Customer Reviews
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