Compare Bank of Baroda vs PNB Car Loan
| Bank | ||
|---|---|---|
| Interest Rate for New Car Loan | Interest Rate for New Car Loan 7.95% - 11.20% |
7.55% - 9.10% |
| Interest Rate for Used Car Loan | Interest Rate for Used Car Loan 10.20% - 12.95% |
8.65% - 9.60% |
| Rate Type | Rate Type Floating |
Floating |
| Processing Fee | Processing Fee 0.75% of loan amount |
Nil |
| Lowest EMI per ₹ 1 lakh | Lowest EMI per ₹ 1 lakh ₹ 14,667 |
₹ 14,647 |
| Maximum LTV for New Car | Maximum LTV for New Car 90% of on-road price |
85% of on-road price |
| Maximum LTV for Used Car | Maximum LTV for Used Car 80 % |
70 % of market value |
| Maximum Tenure | Maximum Tenure 7 Years |
7 Years |
| Prepayment Charges | Prepayment Charges Nil |
Nil |
| Minimum Age | Minimum Age 21 Years |
21 Years |
| Maximum Age | Maximum Age 70 Years |
65 Years |
| Minimum Income | Minimum Income |
₹ 2.40 lakh |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare Car Loan EMI of Bank of Baroda and PNB
Compare Car Loan EMI for different loan amounts for lowest rate and maximum tenure offered by PNB at 7.55% for 7 years and Bank of Baroda at 7.95% for 7 years.
| Loan Amount | Bank of Baroda | PNB |
|---|---|---|
| ₹ 1 Lakh | ₹ 14,667 | ₹ 14,647 |
| ₹ 3 Lakh | ₹ 44,000 | ₹ 43,942 |
| ₹ 5 Lakh | ₹ 73,334 | ₹ 73,237 |
| ₹ 10 Lakh | ₹ 1,46,668 | ₹ 1,46,475 |
Which Bank is better for Car Loan – PNB or Bank of Baroda?
PNB offers lower Car Loan EMI at ₹ 14,647 on a Car Loan for 7 years as compared to Bank of Baroda and with a minimum EMI of ₹ 14,667 for 7 years. Average customer ratings for PNB is currently at which makes it a good choice for taking a Vehicle Loan.
How does PNB Car Loan compare with Bank of Baroda Car Loan?
It is important to do a detailed comparison of PNB and Bank of Baroda Car Loan on all loan terms and conditions to understand their differences in rates and charges and make a better choice amongst the banks. Some of the conclusion drawn on the comparison between banks are:
Which bank offers a lower interest rate on Car Loan - PNB or Bank of Baroda?
As per the current rates, PNB offers a lower interest rate of 7.55% on Car Loan when compared to Bank of Baroda which offers a Car Loan at 7.95%.
What is the maximum LTV offered on a Car Loan amongst PNB or Bank of Baroda?
Banks provide car loans on ex-showroom price & on-road price. Bank of Baroda provides a higher LTV of upto 90% of on-road price. However, PNB provides the lower LTV 85% of on-road price.
Know all about Car Loan
Know More About Bank of Baroda Car Loan
Know More About PNB Car Loan
Compare Bank of Baroda Car Loan With Other Banks
Compare PNB Car Loan With Other Banks
- 2022-05-30 : Axis Bank Increases Car Loan Interest Rates
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The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year. - 2022-05-13 : Union Bank Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.30% to 8.40% for new cars. In addition, the bank offers car loans for old cars starting at 10.80% to upto 10.90%. - 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21. - 2022-05-12 : Punjab National Increases Car Loan Interest Rates
The bank has increased the interest rates on both new and old cars. The car loan interest rate ranges from 7.05% to 9.10% for new cars. In addition, the bank offers car loans for old cars starting at 8.50% to upto 9%.
