Purchasing a vehicle with Bank of Baroda (BoB) has become less expensive now as the bank has sliced the rate on vehicle loan by 0.25% to 7%. In addition, it is additionally offering concession in processing fees for a restricted period up to June 30, 2022.
“A pristine vehicle can now be yours! With #BarodaCarLoans @ 7%*, book your fantasy vehicle immediately,” read a tweet from BoB.
The new rate starting at 7% per annum alongside the concessional processing fees are relevant for the acquisition of another vehicle. This exceptional rate offering is connected to a borrower’s loan profile.
What could you at any point purchase from Bank of Baroda vehicle loan?
You can purchase a hatchback, car, MUV, SUV, sports vehicle or an extravagance vehicle. “Our vehicle loans are accessible to salaried workers, financial specialists, experts, corporates as well as NRIs and PIOs,” expressed Bank of Baroda.
We offer appealing interest rates on vehicle loans with up to 90% supporting, settling on our loans the ideal decision for subsidizing your pristine vehicle, it’s said.
How Might you apply
You can apply for BoB vehicle loan by either giving a missed call or sending a SMS on numbers given by the bank. Adhere to the guidelines below to apply for a Bank of Baroda vehicle loan
Give a missed call: 846 700 1133 or
SMS: AL < space > Name to 842 200 9988
Bank of Baroda Car Loan Features
Bank of Baroda presents to 90% car loan supporting of the on-street cost of the vehicle you wish to buy. Notwithstanding, as far as possible on the vehicle loan sum for private use vehicles is Rs.500 Lakh (5 crore).
The interest rates on vehicle loans is determined on the day to day decreasing balance and depends on the FICO rating or CIBIL Bureau score of the candidate. The base FICO assessment expected for the loan is 701.
The reimbursement time frame or residency for vehicle advances ultimately depends on a limit of 84 months not entirely settled by the EMI sum.
As insurance, all vehicles funded through our car loans are hypothecated with Bank of Baroda. The hypothecation is eliminated once the borrower reimburses the whole loan sum. Salaried workers, financial specialists, experts, corporates as well as NRIs and PIOs are qualified to apply for Bank of Baroda’s automobile advances.
Nonetheless, the base age of the borrower ought to be 21 years, while the most extreme age shouldn’t surpass 70 years after the reimbursement time frame is finished.
