Bank of Baroda Car Loan

I want to purchase a Car. So I am thinking to apply for Car Loan at Bank of Baroda. So can any one give information about eligibility criteria and application form to apply for Loan at Bank of Baroda?

[Shaleen]

The Bank of Baroda is one of the top Public Sector Banks in India.

It offers a wide range of Loans for its customers.

Here I am giving following details related to Car Loan:

Age Limit for Car Loan
Minimum - 21 years
Maximum ½ present age + repayment period should not exceed retirement age in case of salaried person and 65 years in case of others.

Margin :
For loans upto Rs. 15 lacs:
New Vehicles : 15% on road price of car
For loans over Rs. 15 lacs:
New Vehicles : 20%on road price of car

Repayment :
New Vehicles : 84 months.
Second hand vehicles : 36 months.
CNG/LPG Gas-Kit : 24 months. (If loan sanctioned is only for Gas-Kit)

Rate of Interest
Repayment period upto 5 years Base Rate + 0.25% at present (irrespective of tenure)
Repayment period > 5 years Base Rate + 0.25% at present (irrespective of tenure)

Unified Processing Charges
Loans upto Rs 15/- Lacs : 0.75% (Maximum Rs 10000/-)
Loans above Rs 15/- Lacs : 0.50% (Minimum Rs 10000/-)

Bank of Baroda Car Loan Application Form