Bank of Baroda

Bank of Baroda

Overview

In today's fast paced world, a vehicle is but a necessity. Whether as a comfortable and dependable means of transport or as a status symbol in society,Bank of Baroda believes you deserve ownership of a vehicle. 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.

Loan Feature

Loan Amount Loans available up to Rs 100 Lacs for any car make/model (Inclusive of Gas-Kit)
Interest Rate 10.5%
Tenure 84 Months; 36 Months for second hand cars
Pre Payment Charges No Prepayment charges to be levied on the outstanding loan amount.
Service Charges

Loan upto Rs.15 lacs - 0.75%(Max. Rs.10,000/-); Over Rs.15 lacs - 0.50%(Min. Rs.10,000/-, No maximum limit)

Eligibility Criteria : Car Loan

To qualify as an applicant for this loan, you need to be an employee or a director of a public limited company, businessman, professional, proprietor / partner in a firm or a Govt employee.
  Salaried Self
Age Minimum 21 years; Maximum – present age + repayment period should not exceed retirement age in cas 21-65 Years
Income Income Criteria Not Available Income Criteria Not Available
Job Experience Information not available Information not available
Residence Proof Valid Residence proof Valid Residence proof

Docs Required : Car Loan

  Salaried Self
ID Proof Govt. I Card/ Passport Copy/ Voters ID card/ Driving Licence/Copy of PAN Card Passport Copy/ Voters ID card/ Driving Licence/Copy of PAN Card
Address Proof Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate
DOB Proof Birth Certificate or 10th Class Passing Certificate Birth Certificate or 10th Class Passing Certificate
Financial Docs

Salaried Indivudual

  • Latest 6 months Bank Statement (where salary/income is credited)
  • 3 Latest salary slips
  • Proof of Continuity current job (Form 16 / Company appointment letter )
  • Proof of Qualification Highest Degree (for Professionals / Govt employees)

Self Employed (Professionals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Qualification proof of the highest professional degree

Self Employed (Individuals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)

Other Charges : Car Loan

Charges for Late Payment of EMI:

2% p.a. on overdue amount for overdue period. In addition to above, Service Tax as applicable from time to time shall be levied.

Other Expenses: - like stamp duty for execution of documents, registration charges varying from State to State and other related charges/ expenses for the loan shall be borne by the Borrower.

Products offered by Bank of Baroda

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Testimonial

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