Revised Car Loan Rates

Pricing is linked to CIBIL score and customer profile. Applicants with a score of
771+ can access floating ROI from
8.15%. For other slabs, rates typically range between
8.20% and 10.35%.

Special Rates for Government & Defence Personnel

State/Central Government staff and Defence personnel are eligible for the same low floating start rate of
8.15%. Defence customers enjoy
NIL processing fees.

Car Loans for Companies

For corporates rated CMR 1–3, interest is 8.65% (fixed)
or 8.15% (floating). Lower-rated/unrated categories are priced up to
9.30%.

Concessions & Processing Fees

• Existing home loan customers: ROI concession of 0.25%.
• With 50% collateral security: up to 0.50% concession.
• Processing (loan ≤ Rs.10 lakh): Rs. 1,500 + GST.
• Processing (loan > Rs.10 lakh): Rs. 2,000 + GST.
• Govt employees: Rs. 500 + GST.
• Defence personnel: NIL.

Prepayment & Pre-closure Terms

Fixed-rate loans: Closing within 2 years or part-prepayment above Rs.40,000 within 2 years attracts
a penalty of 2% + GST.
Floating-rate loans (Individuals): No part-payment or pre-closure charges.

Key Features

• Maximum financing: up to 90% of on-road price.
• Tenure: 37 months (fixed ROI) to
  84 months (7 years).
• Applicable across segments: Individuals, Govt/Defence, and Corporates.

With starting rates at 8.15% and multiple concessions,
Bank of Baroda’s latest revision aims to spur vehicle purchases while offering borrower-friendly terms.