Two Wheeler Loan

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Two Wheeler Loan

Two Wheeler Loan

For those individuals who prefer to travel more conservatively or to get to their destinations faster, a two-wheeler is as much a boon as it is to a car owner. With newer models coming out each year, the options available to the customer are both attractive as well as convenient.

Bank of Baroda's Two Wheeler Loan make it possible to purchase a two-wheeler and pay back in easy monthly instalments, thereby reducing the burden of a one-time payment.

All resident Indians, salaried, professionals, self-employed, businessmen and farmers can apply for this loan.

For those individuals who prefer to travel more conservatively or to get to their destinations faster, a two-wheeler is as much a boon as it is to a car owner. With newer models coming out each year, the options available to the customer are both attractive as well as convenient.

Bank of Baroda's Two Wheeler Loan make it possible to purchase a two-wheeler and pay back in easy monthly instalments, thereby reducing the burden of a one-time payment.

  • Salaried Employees
  • Businessmen, professionals, Farmers
  • Staff/ex-staff (for availing under Public scheme)

Purpose

For purchase of new two Wheelers for private use.

Eligibility

  • Salaried Employees
  • Businessmen, professionals, Farmers
  • Staff/ex-staff (for availing under Public scheme)

Purpose

For purchase of new two Wheelers for private use.

Eligibility based on Income Criteria

For Salaried: Average of last 3 months GMI (Gross Monthly Income)
For others: Average of last -2- years Gross Annual income

Eligibility based on Repayment capacity

Total deductions including proposed EMI should not exceed

GMI less than Rs.20000 P.M 50%
GMI Rs.20000 and above but less than Rs. 1.00 lacs P.M. 60%
GMI Rs. 1.00 lacs P.M and above 70%

Maximum Limit

Rs.1.00 Lacs (For all categories)

Repayment Period

Maximum 60 months

Margin

10%

Bureau Score validation

Minimum Bureau score cut off as per Bank’s guidelines or Other Bank

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

HypothecationofVehiclefinanced

Insurance

Comprehensive Insurance of the Vehicle with Bank’s Clause

Pre-closure charges

NIL

Rate of Interest

Rate of Interest

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

Processing Charges

EMI Calculator

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

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