What is Bank of Baroda Car Loan EMI?
- car Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Bank of Baroda against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
- With Bank of Baroda offering car Loans with loan tenure upto 7 years, the loan EMI can be as low as Rs. 1,647 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Bank of Baroda are as low as 9.75%. You can check EMI for other tenures using our Bank of Baroda car Loan EMI calculator.
- This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.