Bank of Baroda Car Loan Rate, Eligibility Calculator, Apply Online

Bank of Baroda Car Loan Offer Feb 2017

Last Updated 24th Feb 2017
Features and Eligibility Bank of Baroda New Car Loan Scheme Bank of Baroda Used Car Loan Scheme
Interest Rates 9.75% Floating Check Special Offer 10.45% Floating
Maximum Loan Amount Eligibility 85.00% of on-road price 80.00%
Maximum Loan Tenure (years) 7 years 3 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,647 Rs. 3,215
Processing Fee 0.75% Min Rs. 10000 0.75% Min Rs. 10000
Prepayment Charges Nil Nil
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 65 years Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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Eligibility Condition for Bank of Baroda Car Loan

Bank of Baroda New Car Loan Scheme Bank of Baroda Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 0.0 0.0
--Self employed professionals 0.0 0.0
--Self employed businessmen 0.0 0.0
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Bank of Baroda Car Loan

How much interest is charged by Bank of Baroda on car loan?

Bank of Baroda offers an interest of 9.75% to 11.50% on car loan.

What is the lowest EMI per lakh on Bank of Baroda car loan?

If you apply for a car loan from Bank of Baroda, your lowest EMI per lakh will be Rs. 1,647.

What is the maximum tenure of Bank of Baroda car loan?

You can repay your car loan from Bank of Baroda in a flexible period of maximum 7 years.

How much car loan I can borrow from Bank of Baroda?

Bank of Baroda offers you 85.00% of of on-road price of car as loan.

How much processing fee is charged by Bank of Baroda on car loan?

Bank of Baroda charge a processing fee of 0.75% with applicable service tax.

Is age an eligibility factor to get car loan from Bank of Baroda?

Yes, age is an important eligibility factor to get Bank of Baroda car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on Bank of Baroda car loan?

You can take car loan from Bank of Baroda with Nil prepayment charges.

Can I add my spouse's income while applying for car loan from Bank of Baroda?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Bank of Baroda Car Loan Calculator News - Feb 2017
11th Feb 17 Bank of Baroda registers net profit of Rs. 253 crore in third quarter of FY17
Bank of Baroda has reported net profit of Rs. 253 crore during third quarter of FY17 against a loss of Rs. 3,342 crore during the same quarter of FY16. The increase in profits is contributed by a healthy growth of 15.85 percent in net interest income at Rs. 3,134 crore during the quarter as compared to Rs. 2,705 crore a year ago.
07th Jan 17 Bank of Baroda cuts MCLR by up to 70 basis points
Bank of Baroda has reduced its overnight and six months marginal cost of lending rate to 8.10 and 8.30 percent as compared to 8.80 and 9 percent respectively. The revised one year and three year MCLR is now 8.35 and 8.50 percent. Similarly, the bank has reduced its three year MCLR by 60 basis points to 8.65 percent. The rates are effective from 7th January, 2017.
07th Dec 16 Bank of Baroda cuts MCLR by 20 basis points
Bank of Baroda has reduced its overnight and three months marginal cost of lending rate to 8.80 and 8.95 percent from 9 and 9.15 percent respectively. The bank has also reduced its one and five year lending rates by 20 basis points to 9.05 and 9.25 percent from 9.25 and 9.45 percent earlier. Revised rates are effective from 7th December, 2016.
19th Nov 16 Bank of Baroda net profit in second quarter jumps four folds, bad loans decline
Bank of Baroda reported an increase in its net profit at Rs. 552 crores in July to September quarter as compared to Rs. 124 crores during same period last year. Provision for NPAs during the period reduced to Rs. 1,630 crores from Rs. 1,844 crores in same period of last year.
07th Nov 16 Bank of Baroda reduces its MCLR to 9.25 percent from 7th November, 2016
Bank of Baroda has reduced its marginal cost of lending rate by 0.10 percent at 9.25 percent for one year and three year periods. The overnight and six month lending rates are reduced to 9 percent and 9.20 percent respectively. The five year lending rate is reduced to 9.45 percent. The new rates will be effective from 7th November, 2016.
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