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Baroda Car Loan for NRI/PIOS

  • Competitive rate of Interest
  • Higher amount of eligibilityupto Rs.100.00Lacs
  • Longer tenure upto -84- Months
  • Finance upto 90% of On Road Price (On-Road price includes Registration, Insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ Cost of Accessories)
  • Interest calculated on Daily Reducing Balance
  • No Pre-Payment Penalty or Foreclosure Charges
  • No Advance EMI
  • Salaried Employees
  • Businessmen, professionals
  • Directors of Private and Public Limited companies, Proprietor of Proprietorship Firms, partners of Partnership Firms.
  • Corporates (Partnership, private Limited, Public limited and Trust)

Purpose

For purchase of new passenger Cars, Multi Utility Vehicles (MUVs), SUVs etc. for private use.

To know Rate of Interest Click here

To know Processing Charges Click here

Eligibility

  • Salaried Employees
  • Businessmen, professionals Directors of Private and Public Limited companies, Proprietor of Proprietorship Firms, partners of Partnership Firms.
  • Corporates (Partnership, private Limited, Public limited and Trust)

Eligibility based on Income Criteria

Salaried persons
(*average of last 3 months GMI to be considered)
GMI less than Rs.50000 24 times of GMI
GMI Rs.50000 & above but less than 150000 30 times of GMI
GMI Rs.150000 and above 36 times of GMI
Others 4 times of Gross Annual income (average of 2 years Annual Income)

Eligibility based on Repayment capacity

Total deductions including proposed EMI should not exceed

Salaried GMI less than Rs.50000 60%
GMI Rs.50000 & above but less than 150000 70%
GMI Rs.150000 and above 80%
Others Average Annual Income(last 2 years) less than Rs.6 lacs 80%
Average Annual Income(last 2 years) less than Rs.6 lacs 60%
Average Annual Income (last 2 years) is Rs.6.00 lacs and above 80%

Maximum Limit

Rs.100 Lacs (For all categories)

Repayment Period

Maximum 84 months

Margin

10% Margin on ‘On road price’ of the vehicle

Bureau Score Validation

Minimum Bureau score cut off as per Bank’s guidelines

Age

Minimum : Borrower – 21 years, Co-applicant- 18 years

Maximum : Age of the applicant / co-applicant / guarantor + repayment period should not exceed 70 years

Security

Hypothecation of Vehicle financed

Insurance

Comprehensive Insurance of the Vehicle with Bank’s Clause

Pre-closure charges

NIL

Rate of Interest

To know Rate of Interest Click here

Rate of interest on car loan is based on CIBIL Bureau score of the applicant/co-applicant. Minimum Cut off score is 725.

Concession in ROI : Concession of 0.25% in rate of interest on Car Loans to our existing Home Loans borrowers who maintain a good track record of repayment without any overdue.

Unified Processing Charges

To know Processing Charges Click here

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EMI Calculator

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  • Total Interest
  • Total Amount
Monthly Payment Rs. 1,977.00

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