Bank Of Baroda Car Loan Interest Rate at 8.40% to 11.85%

INTEREST RATE8.40% to 11.85%
PROCESSING FEEAs decided by the bank from time to time
PRE CLOSURE CHARGESAs decided by the bank from time to time
Note: Updated on Feb 2023, for latest interest rates, please visit bank website.

About Bank Of Baroda

Bank Of Baroda is a public sector bank in india with total assets 11742 crore. It has headquarter in Vadodara (baroda).

Bank Of Baroda was founded on July 20, 1908. It has 5198 branches and total assets 117428030 ATMs across India.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Bank Of Baroda which includes Bank Of Baroda Official Website, Bank Of Baroda ATMs accross the India, Bank Of Baroda Branches accross the India, Bank Of Baroda Contact Numbers, Bank Of Baroda official EmailID, Bank Of Baroda Headquarter and Bank Of Baroda Headquarter Address. Find Bank Of Baroda Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of Bank Of Baroda:

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
RD Interest RatesBank ATMs
PPF Account 

Bank Of Baroda Car Loan Purpose

For purchase of new passenger cars, multi utility vehicles (MUVs), SUVs, etc. for private use.

Bank Of Baroda Car Loan Eligibility

  1. Age: 21 to 60 years.
  2. Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
  3. Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.

Bank Of Baroda Car Loan Documents Required

  1. Applicant's latest photograph.
  2. Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  3. KYC (Know Your Customer) Documents.
  4. Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
  5. Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
  6. Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
  7. Bank Statement or Bank Pass Book of having entries of last 6 months

Bank Of Baroda Car Loan Amount

Maximum Rs. 5 Crore



Bank Of Baroda Car Loan Repayment

Maximum 84 EMIs are allowed for New Car Loan and repayment through 36 EMIs to 60 EMIs is allowed in case of Used Car Loan. Repayment period for used car also depends upon how old the car is.


Hypothecation of Vehicle

Tips to Manage Car Loan in a Better Way

(1) Make Proper Schedule for EMIs to be paid

You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.

(2) Never Skip any Payment

Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.

(3) Keep Loan Tenure Small

You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.

(4) Make one Extra Payment Every Year

You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.

(5) Refinance your Car Loan

You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.

Benefits of Car Loan

  • Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the on-road price of the car in case of new cars. The on-road price of a car includes the ex-showroom price, state government tax and insurance cost of the car.
  • No Need to Liquidate your Investments: If you avail car loan then there is no need to liquidate your investments which you have made for some other purposes.
  • Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
  • Tax Benefits: Car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on car loan as a business expense. In this way, your taxable income will get reduced by the amount of interest you have paid in a financial year on car loan.

Contact details of Bank Of Baroda, Bank Of Baroda SMS balance check number, Bank Of Baroda SMS banking, Bank Of Baroda mobile banking, Bank Of Baroda toll free number,Bank Of Baroda toll free number 24*7, Bank Of Baroda miss call number.

  • MISSED CALL NUMBERS - 8468001111, 8468001122
  • CUSTOMER CARE NUMBERS - 18002584455, 18001024455, 18001027788
  • CONTACT NUMBERS - 18002584455, 18001024455, 18001027788, 0265-2316792

Bank Of Baroda Contact Details

  • CONTACT NUMBERS - 18002584455, 18001024455, 18001027788, 0265-2316792
  • EMAIL ID -
  • MISSED CALL NO. - 8468001111, 8468001122
  • CUSTOMER CARE NO. - 18002584455, 18001024455, 18001027788
  • TOTAL ATMS - 8030
  • HEADQUARTER - Vadodara (baroda)
  • BANK ADDRESS - Baroda Bhavan 7th Floor,R.C. Dutt Road, Vadodara-390 007, (Gujarat) India.
Bank Of Baroda EMI Calculator  Bank Of Baroda Branches  
Bank Of Baroda Car Loan FAQs  Car Loan Document Required

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