Bank of Baroda Car Loan – Eligibility, Charges, and How to Apply

Bank of Baroda Car Loan

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Bank of Baroda is an Indian public sector bank and is the second largest public sector bank in India after State Bank of India.

NameBank of Baroda[1]
IndustryBanking, Financial Services
HeadquartersVadodara, Gujarat, India
Founded20 July, 1908
FounderSayajirao Gaekwad III
OwnerGovernment of India
Bank of Baroda

Bank of Baroda Car Loan

With Bank of Baroda, you will be able to avail car loans up to Rs 100 lakhs at attractive interest rates. Own your dream car with car loans from Bank of Baroda. With BOB Car Loans you can buy a hatchback, sedan, MUV, SUV, sports car or luxury car. BOB auto loans are available to salaried employees, businessmen, professionals, corporates as well as NRIs and PIOs.

Also Read: PNB Car Loan

Features and Benefits of availing car loan from Bank of Baroda

  • Flexible repayment tenures
  • Loan can be availed for both resident and Non-resident Indians
  • Loans for pre-owned cars are also available
  • Attractive rate of interest
  • Up to 90% of the on-road price of the car may be financed
  • Loan processing time is quick at BOB
  • Minimal documentation
  • No foreclosure charges
  • Low down payment

Interest Rate, Loan Amount, and Other Charges

Interest RateRanges from 8.40% p.a.
Loan AmountMaximum 1 crore can be availed
Loan TenureUp to 7 years
Processing FeeThere is no processing fee
Foreclosure ChargesNil
FinanceUp to 90% of the on-road price of the car may be financed

How to Apply for Bank of Baroda Car Loan

To apply via online you will have to –

  • Visit the official website of the BOB
  • Click on the ‘Vehicle Loan’ option
  • Click on ‘Apply Now’ under Car Loan Section
  • Fill up the application form along with all the required details
  • A Bank of Baroda representative will contact you after the verification process

To apply vis offline you will have to-

Visit the nearest bank branch, fill the loan application form and submit it to the bank branch.


  • Salaried employees
  • Partnership Firm Partners
  • Proprietorship Firm
  • Private and Public Limited Company
  • NRIs
  • Farmers
  • Professionals
  • Businessmen
  • Corporates

Documents Required

  • Signed application form with photograph
  • ID proof
  • Age proof
  • Income proof
  • Bank statement of last 6 months
  • Salary slips of last 3 months
  • Form 16 or Income Tax Returns
  • Sign verification proof
  • Additional documents

BOB Car Loan EMI Calculator

EMI is the amount that is paid on a monthly basis against the loan availed from the lender. Before availing a car loan you must know how much loan amount you are eligible for and how much would be the EMI on your car loan. Various factors such as loan amount, loan tenure, rate of interest are considered when calculating EMI. Use Bank of Baroda online EMI Calculator to calculate the EMI.

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