Here are a few factors

Rating 5 /
Total - 1 ratings
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
TAT Sanction-2 Days
Disbursement-3 Days
Foreclosure Charges Nil
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
Product 1.FOIR 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
USP 1. Funding to NRI aswell
2. Funding to Pensioner also 
Additional 100% Processing Fees waiver if applicant is having GOVT Salary account in BOB
Right Document : Easy Process

Required Documents to Apply for Bank Of Baroda New Car Loan

Salaried Person

  • 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

Self Employed

  • 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.

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.

Leave Your Question


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.