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How to Apply Bank of Baroda Vehicle Loan Yojana : If you are planning to buy your own vehicle by taking a loan, then this is the news for you. Buying your own vehicle can be a daunting task, but taking out a car loan can take the hassle out of it. This is where car loans come into the picture. If you are looking to get a car loan from a nearby bank, there are many banks as well as NBFCs (Non-Banking Financial Companies) that offer such loans.
Today, apart from banks, many financial firms (Banks & financial firms) also provide car loans. But most of the time opting for the bank itself is a wise move. So let's know how you can get vehicle loan from Bank of Baroda under Baroda Vehicle Loan ( How to Apply for Bank of Baroda Vehicle Loan Yojana )
How to Apply Bank of Baroda Vehicle Loan Yojana
How to Apply for Bank of Baroda Vehicle Loan Yojana : If you are also thinking of buying your own vehicle then this news is for you. Bank of Baroda (Bob) has reduced interest rates on car loans amid rising car prices by car companies. This will directly benefit you. Bank of Baroda has reduced the interest rate on car loans by 0.25 percent.
How to Apply Bank of Baroda Vehicle Loan Yojana : More than a dream, owning a car is a necessity these days to be able to move from one place to another without waiting for tightly packed public transport or to have the freedom to go anywhere anytime without worrying about schedules. . Bank of Baroda offers car loans at truly attractive rates, flexible tenure and easy installments, some of the lowest in the industry, so you can buy your dream car.
When it comes to Bank of Baroda, the process of securing a car loan is really easy.
How to Apply for Bank of Baroda Vehicle Loan Yojana : Get your dream ride with Bank of Baroda Car Loan. Get a car loan to buy a vehicle of your choice. With our loan you can buy a hatchback, sedan, MUV, SUV, sports car or luxury car. Auto loans are available to salaried employees, businessmen, professionals, corporates as well as NRIs and PIOs. Offers attractive interest rates on car loans with financing up to 90%, making loans an ideal option for financing your new car.
- Name of Article - How to Apply Bank of Baroda Vehicle Loan Yojana
- Article sub - information Information about BOB Vehicle Loan
- Language of Article - English
- Purpose of the article - Purpose of providing BOB Vehicle Loan information
- Official Website - Click Here
Bank of Baroda Vehicle Loan Yojana
How to Apply Bank of Baroda Vehicle Loan Yojana : Bank of Baroda provides many types of loan facilities for its customers. It also provides car loans. Here we will know in detail about Baroda Vehicle Loan.- Baroda Vehicle Loan : Benefits
- Up to 90% financing
- Attractive interest rates
- More loan amount
- Minimum documents
- No foreclosure charges
- Fast processing
- Fast disbursement of funds
Baroda Vehicle Loan – Features
How to Apply for Bank of Baroda Vehicle Loan Yojana : Baroda Car Loan has the following features:- Bank of Baroda offers auto loan financing of up to 90% for the on-road price of the car you want to buy.
- However, the upper limit of car loan amount for private use vehicles is Rs. 500 lakhs (5 crores).
- The interest rate on a car loan is calculated on the daily reducing balance and is based on the applicant's credit score or CIBIL Bureau score.
- A minimum credit score of 701 is required for the loan.
- The repayment period or tenure for a car loan is up to a maximum of 84 months and is determined by the EMI amount.
- As collateral, all cars financed through our auto loans are hypothecated with Bank of Baroda.
- The foreclosure is removed once the borrower pays the full amount of the loan.
- Salaried employees, businessmen, professionals, corporates as well as NRIs and PIOs are eligible to apply for Bank of Baroda auto loans.
- However, the minimum age of the borrower should be 21 years, while the maximum age should not exceed 70 years after completion of repayment period.
- Processing charges on loans are minimal.
Baroda Vehicle Loan – Eligibility
- salaried employees
- traders, professionals and farmers
- Directors of Private and Public Limited Companies, Proprietorship Firms, Partners of Partnership Firms.
- Corporate (Public Limited Company / Private Limited Company etc.)/ (Firms i.e. Sole Proprietorship Firm/Partnership/LLP/Trust/Society etc.)
Baroda Vehicle Loan : Documents Required
How to Apply for Bank of Baroda Vehicle Loan Yojana : You just need to ensure that you have the following documents handy:- Photo ID with proof of age (eg, PAN Card, Passport, Driving License)
- Signed application form with 3 passport size photographs
- Proof of residence such as valid passport, voter identity card, driving license, postpaid utility bill (gas bill and electricity bill), updated passbook or bank account statement, notarized registered rent agreement
- Last six months bank statement
- If the applicant is a salaried personLast 3 months salary slip
- Form 16 or Income Tax Return
- If the applicant is a self-employed personBalance sheet and profit and loss account, calculation of income for last 2 years
- Income Tax Return – Last 2 years for applicants, 26 AS,form
- Proof of Occupation: Clerk's License, Registration Certificate, Service Tax Registration
- IT Assessment/Clearance Certificate, Income Tax Challan/TDS Certificate (Form 16A)/Form 26AS for income declared in ITR
How to Apply for Bank of Baroda Vehicle Loan Yojana
How to Apply for Bank of Baroda Vehicle Loan Yojana : The step-by-step process to apply for Bank of Baroda Vehicle Loan Yojana is given below:- Step:1 Visit the official website of Bank of Baroda.
- Step: 2 Click on 'Baroda Vehicle Loan'. This option will appear in the 'Loans' tab.
- Step:3 Click on 'Apply Now' on the next page.
- step:4 You can also go to this link- https://dil.bankofbaroda.in/signup?utm_source=website&utm_medium=organic&utm_campaign=pp<=autoloan .
- Step:5 Click on 'Apply Now'.
- Step: 6 After completing the registration process by clicking on Next, click on the submit button.
- step:7 Bank of Baroda representative will contact you to process the request.
