Here are a few factors
|Location||50Km from Branch|
|CIBIL Score||700+ & Minus 1 CIBIL|
|Loan Amount & Tenure||1
Lac to 50 Lac
(12 month to 84 month)
|Loan to Value(LTV)||Upto 93% of on Road Price|
|Type of Funded Vehicle||New Car|
|Rate of Interest & Type||8.7% to 9.90% (Fixed)|
|Processing Fees||Loan upto 10 Lac-1500, Loan>10 Lac-2000|
|Applicant||Any Salaried or Self Employed Person|
|Applicant Age||Salaried: 21 year to 58 Year , Self Employed -21 year to 65 year|
|Applicant Minimum Income||1.
Salaried having monthly net Salary>25K
2. Self Employed Person having ITR>3 Lac
|Business Vintage for Self Employed Applicant||2 Year|
|Minimum Job Experience for Salaried Applicant||1 Year|
|Whether Co-Applicant Mandatory||No|
|Part Payment Allowed||Yes|
on Salaried Person: Salary<50K-65%, >50K-1.50 Lac-75%, >1.50 Lac-85%
2. Self Employed: If Average Annual Income of last 2 year< 6 Lac-60%,>6 lac-80%
|Negative Profile||No Negative Profile|
Funding to NRI aswell
2. Funding to Pensioner also
|Additional||100% Processing Fees waiver if applicant is having GOVT Salary account in BOB|
Bank of Baroda New Car Loan EMI Calculator
|Interest %||8 %|
|Emi (monthly)||₹ 8,699|
|Total Interest||₹ 4,386|
|Loan Amount + Interest||₹ 104,386|
|Year||Total Principal |
( A )
|Total Interest |
( B )
( A + B)
|Total Payment||Loan Paid Till Date (%)|
|₹ 24,258||₹ 1,839||₹ 26,097||₹ 75,742||24.26 %|
|₹ 75,744||₹ 2,547||₹ 78,291||₹ 0||100.00 %|
Required Documents to Apply for Bank Of Baroda New Car Loan
KYC of applicant
Last 3 Month Salary Slip
Last 12 month Bank Statement of applicant
Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
26AS of last 2 year of applicant
Quotation of Car
Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
Latest utility Bill if owned residence or rent agreement if rented
KYC of applicant & Co-Applicant
KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
Last 3 year audited balance sheet of applicant
Last 3 year Tax audit report of applicant
Last 12 month Bank Statement of applicant & co-applicant
Copy of Last 12 month GST return if applicable
Quotation of Car
Sanction letter of all running loan
Latest utility Bill of residence if owned or rent agreement if rented
Latest utility Bill of Office if owned or rent agreement if rented
List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About Bank Of Baroda New Car Loan
The Bank of Baroda provides an extensive list of retail loans tailored to your specific requirements, including fantastic deals on car loans and used car loans. These need-specific and one-of-a-kind loans are exclusively designed to help consumers turn their aspirations into reality.
Bank of Baroda car loans are meant to provide financing for the purchase of a car that meets your requirements, economic status, and preferences. It also provides a one-of-a-kind add-on facility, in addition to the auto loan offered by Bank of Baroda, for the fitting of an LPG or CNG kit in your old or new car.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
Yes, NRIs or PIOs can apply for Bank of Baroda Car Loans.
A Car Loan is a specific amount of money borrowed from any lending platform such as Banks and NBFCs, for the purpose of purchasing a New Car.
The LTV of Baroda Car Loan is 90% on the road price
The upper limit on the Bank of Baroda Car Loan amount for private-use vehicles is Rs.500 Lakh (5 crores).
Yes, people with a -1 CIBIL score are also eligible to apply for Bank of Baroda Car Loan.