Bank of Baroda Car Loan – Interest Rates 2018, EMI Calculator

Bank of Baroda Car Loan – Interest Rates 2018, Documents, Eligibility of BOB Car Loans. Details on Processing Fees & Charges of Bank of Baroda for New & Used Cars and calculate EMI with Bank of Baroda Car loan emi calculator.

The car Loans from Bank of Baroda are designed to finance the car that suits your need and matches to your status & taste. Bank of Baroda also presents a unique add on facility for installation of CNG / LPG gas-kit in new/old (not more than 3 years) four wheeler. Save money. Save earth. Convert to alternative fuel today and bank on us for your financial requirements.

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Professional Details
Loan Amount

Occupation

Annual Income

City


Bank of Baroda Car Loan Interest Rates 2018

Interest Rates 8.80% – 10.55%
Repayment Period 7 Years
Lowest EMI per Lakh Rs. 1,599
Maximum loan amount 1 Crore
Eligibility based on Repayment capacity Up to 60 % of Gross monthly Income
PROCESSING CHARGES 0.50% of loan amount

Bank of Baroda Car Loan EMI Calculator

Bank of Baroda car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.7 lakh for Maruti Vitara Brezza VDI car for 5 years repayment period at 8.80% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 7,00,000
  • Monthly Installment (EMI) = Rs. 14,463
  • Total Interest Amount = Rs. 1,67,780
  • Total Amount (Principal + Interest) = Rs. 8,67,780

 

Year Principal Interest Balance Amount
1 Rs. 116,583 Rs. 56,973 Rs. 583,417
2 Rs. 127,269 Rs. 46,287 Rs. 456,148
3 Rs. 138,930 Rs. 34,626 Rs. 317,218
4 Rs. 151,662 Rs. 21,894 Rs. 165,556
5 Rs. 165,661 Rs. 7,997 Rs. 0

Why to Choose Bank of Baroda Over Other Banks for Car Finance:

  1. Low processing fee.
  2. Zero prepayment charges
  3. Concession of 0.5 % in rate of interest to those who offer minimum 50% liquid security as collateral.
  4. Additional concession of 0.25% in interest rate to existing Home Loan borrowers having good track record of repayment.

Terms & Conditions and Eligibility Required for BOB Car Loans in India:

To qualify as an applicant for this loan, you need to be an employee or a director of a public limited company, businessman, professional, proprietor / partner in a firm or a Govt employee and HNIs / Corporates..

The maximum loan amount is Rs. 100 Lakhs, or twice of your gross annual income if you are salaried, and thrice of it (average of last 2 years gross annual income) if you are a businessman, whichever is lower.

Maximum loans upto Rs 0.25 lac available for installation of CNG/LPG Gas-Kit in new/old (not more than 5 years) four-wheeler, if taken separately.

Repayment :

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

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

Age :

  • Minimum – 21 years
  • Maximum – present age + repayment period should not exceed retirement age in case of salaried person and 65 years in case of others.