Bank Of Baroda Car Loan

Bank Of Baroda Car Loan
 4.5 / 5.0   by 9 users
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Promised Interest Rate

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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

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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

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Bank of Baroda Car Loan Minimum Salary

Minimum income required
Rs.1,00,000 per annum

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

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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 30 Sep 2014

Bank of Baroda Car Loan Details
Interest Rate (Monthly reducing balance) 10.25% to 10.50% floating
I-Base – 10.25%
Processing Fees Rs.10,000
Loan Tenure 1 year to 7 years
Pre-closure Charges Nil
Guarantor Requirement No guarantor required

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Bank Of Baroda Car Loan Reviews

100 % of our customers would recommend this bank. (9 out of 9) Write Review
Customer Reviews
Page 1 of 1 1
  • Validated User
    (0)

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

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

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

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

    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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    Fees & Charges
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    took a Car Loan from BANK OF BARODA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    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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    Fees & Charges
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    took a Car Loan from BANK OF BARODA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    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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    Fees & Charges
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    took a Car Loan from BANK OF BARODA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    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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    Fees & Charges
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    took a Car Loan from BANK OF BARODA on BankBazaar.com Reviewed on
  • Validated User
    (3)

    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.

    Was this review helpful? Yes

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    Fees & Charges
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    Responsiveness
    took a Car Loan from BANK OF BARODA on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 1 1

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