Personal, home, vehicle & other loans

Baroda Car Loan

Buy your dream car with ease by applying for a car loan from Bank of Baroda. Enjoy low interest rates and up to 90% financing, suitable for salaried employees, businessmen, & more. Give a missed call or send an to apply now!

Interest rateNew-car fixed rate: 8.50%–11.20% p.a.; floating rate: 7.60%–11.30% p.a. Floating pricing is BRLLR − 0.30% to BRLLR + Strategic Premium + 3.15%; the applicable rate depends on bureau score and scheme terms.Finance and amount limitsUp to 90% of the on-road price. The page’s amount caps conflict: Features says ₹5 crore for private-use vehicles; MITC says ₹3 crore for individuals and ₹5 crore for non-individuals; FAQ says ₹2 crore for individuals and ₹5 crore for non-individuals. Confirm the individual cap with the bank before relying on it.Published loan limitsIndividual cap differs by page section: ₹3 crore in MITC and ₹2 crore in the FAQ. Features says ₹5 crore for private-use vehicles; the page states ₹5 crore for non-individuals.

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✓ Manually checked 23 Sept 2026 · active

Bank of Baroda Baroda Car Loan official product banner

Offered byBank of Baroda

India; eligibility, branch and channel availability follow the official product terms

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Unified processing charge₹1,500 + GST up to ₹10 lakh; ₹2,000 + GST above ₹10 lakhView source

The official page gives two loan-size bands.

Source: Baroda Car Loan
Page / section: Interest rates & charges — Unified Processing Charges
Accessed: 21 Aug 2026
Confidence: high

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Prepayment / closureFloating-rate individual borrowers: nil. Fixed-rate loans: nil part payment up to ₹40,000 within the first two years and nil after two years; otherwise 2% + GST during the first two years.View source

The page separates floating individual, non-individual and fixed-rate pre-closure rules.

Source: Baroda Car Loan
Page / section: Pre-closure charges
Accessed: 21 Aug 2026
Confidence: high

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Loan typeVehicle loanView source

The official product name identifies this as “Baroda Car Loan”.

Source: Baroda Car Loan — official product page
Page / section: Official product name and loan classification
Accessed: 15 Aug 2026
Confidence: high

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BenchmarkBank of Baroda says BRLLR applies to all retail lending products. The current page lists BRLLR at 7.90% (repo 5.25% + markup/base spread 2.65%) effective 6 December 2025 and 1-year MCLR at 8.75% effective 12 August 2026. Product-specific spreads, CIBIL pricing and scheme conditions determine the applicable rate.Effective 12 Aug 2026View source

The page states that was introduced for all retail lending products and gives the current , repo-plus-spread composition and reference. It does not state that one single spread applies to every product.

Source: Bank of Baroda Retail Loans Interest Rates
Page / section: benchmark; benchmark; retail loan rate tables
Accessed: 29 Aug 2026
Confidence: high

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The live product page lists both effective-rate ranges and the floating spread formula; the separately reviewed current rate schedule lists at 7.90% p.a. effective 6 December 2025. No customer-specific rate is inferred.

Source: Baroda Car Loan and current retail rates
Page / section: Interest rates & charges — Fixed Rate and Floating Rate tables; current schedule
Accessed: 23 Sept 2026
Confidence: high

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Finance and amount limitsUp to 90% of the on-road price. The page’s amount caps conflict: Features says ₹5 crore for private-use vehicles; MITC says ₹3 crore for individuals and ₹5 crore for non-individuals; FAQ says ₹2 crore for individuals and ₹5 crore for non-individuals. Confirm the individual cap with the bank before relying on it.View source

Features, and state different individual maxima (₹5 crore, ₹3 crore and ₹2 crore respectively); the page gives ₹5 crore for non-individuals in both and .

Source: Baroda Car Loan — current official page
Page / section: Features; Most Important Terms and Conditions — Maximum Limit; — How much car loan can I get?
Accessed: 23 Sept 2026
Confidence: high

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Published loan limitsIndividual cap differs by page section: ₹3 crore in MITC and ₹2 crore in the FAQ. Features says ₹5 crore for private-use vehicles; the page states ₹5 crore for non-individuals.View source

The live page presents three different individual/private-use maxima. The discrepancy is preserved rather than resolved by inference.

Source: Baroda Car Loan — current official page
Page / section: Features; — Maximum Limit; — How much car loan can I get?
Accessed: 23 Sept 2026
Confidence: high

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Repayment periodUp to 84 months; minimum 37 months for a fixed-rate car loan.View source

The page sets a maximum 84-month term and a 37-month minimum for fixed-rate loans.

Source: Baroda Car Loan — current official page
Page / section: Features; — Repayment Period
Accessed: 23 Sept 2026
Confidence: high

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Maximum tenure84 months; fixed-rate loans have a 37-month minimum.View source

The page states the maximum and fixed-rate minimum terms separately.

Source: Baroda Car Loan — current official page
Page / section: Features; — Repayment Period
Accessed: 23 Sept 2026
Confidence: high

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Processing fee₹1,500 + GST up to ₹10 lakh; ₹2,000 + GST above ₹10 lakh. Baroda Direct Car Loan: ₹1,000 + GST; Yoddha customers: nil; State/Central/PSU employees: ₹500 + GST; customers approaching the bank directly: nil. The page does not state whether concessions can be combined.Effective 1 Apr 2025View source

The current product page publishes two amount bands and four specific exceptions. A separate current tariff was reviewed; the older undated all-in-cost uses service tax and conflicts, so it is not used as current pricing.

Source: Baroda Car Loan and Service Charges
Page / section: Product page — Unified Processing Charges; current service-charge schedule — Baroda Car/Digital Car Loan
Accessed: 23 Sept 2026
Confidence: high

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Repayment capacityFor salaried applicants, total deductions including the proposed EMI may not exceed 60% of gross monthly income below ₹50,000, 70% from ₹50,000 to below ₹1,50,000, or 80% at ₹1,50,000 and above. Other applicants are assessed on average annual income over the previous 2 years: 60% below ₹6 lakh and 80% at ₹6 lakh and above. These are repayment-capacity bands, not minimum-income thresholds.View source

The page states that total deductions including the proposed are limited to 60%, 70% or 80% across the displayed salary and average-income bands.

Source: Baroda Car Loan — current official page
Page / section: Eligibility — Repayment Capacity
Accessed: 23 Sept 2026
Confidence: high

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EligibilitySalaried employees, businessmen, professionals, farmers, eligible companies/firms and NRIs/PIOs may apply. Borrower minimum age: 21 years; co-applicant: 18 years. Applicant, co-applicant or guarantor must be no older than 70 years at loan end. The page publishes the separate repayment-capacity bands in the key-facts table.View source

The page lists eligible applicant categories and separate minimum ages for borrowers and co-applicants, with an age-70 limit at loan end.

Source: Baroda Car Loan — current official page
Page / section: Eligibility; — Age; — Minimum score
Accessed: 23 Sept 2026
Confidence: high

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Minimum bureau-score cut-off701; CIBIL score −1 is also considered. The bank says the score is assessed holistically, not as the sole decision criterion.View source

Features state a 701 minimum and permit score −1; the says the bank takes a holistic view and the score alone is not the criterion.

Source: Baroda Car Loan — current official page
Page / section: Features; — Minimum score
Accessed: 23 Sept 2026
Confidence: high

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Prepayment and closureFloating-rate individual: nil. Floating-rate non-individual: 4% of the outstanding amount, calculated on the original repayment schedule, if closed within 6 months; nil after 6 months. Fixed-rate: nil on cumulative part-payments up to ₹40,000 in the first 2 years and nil after 2 years; otherwise 2% + GST applies to the entire prepayment within the first 2 years. Closing a fixed-rate account within 2 years attracts 2% + GST on the entire prepaid amount.Effective 1 Apr 2025View source

The live page distinguishes floating individual/non-individual treatment and fixed-rate part-payment/closure rules. The older all-in-cost blanket NIL statement is not used as current.

Source: Baroda Car Loan and Service Charges
Page / section: Product page — Pre-closure charges; current service-charge schedule — Pre-Payment, fixed-rate retail loans
Accessed: 23 Sept 2026
Confidence: high

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SecurityThe financed vehicle is hypothecated to Bank of Baroda; the bank's hypothecation is removed after full repayment.View source

The official page says financed cars are hypothecated to the bank and released after full repayment.

Source: Baroda Car Loan — current official page
Page / section: Features — Security
Accessed: 23 Sept 2026
Confidence: high

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Vehicle insuranceComprehensive insurance for the vehicle with Bank of Baroda's clause is required.View source

The section requires comprehensive vehicle insurance carrying the bank's clause.

Source: Baroda Car Loan — current official page
Page / section: — Insurance
Accessed: 23 Sept 2026
Confidence: high

Open official source ↗

Benefits and features

Up to 90% finance of the on-road vehicle price.
Attractive interest rates linked to the applicant's credit or score.
Higher loan amount, with the private-use vehicle limit stated on the page.
Minimal documentation and quick processing with speedy fund disbursal.
No foreclosure charges for the floating-rate option.

Eligibility

Salaried employees, businessmen, professionals, farmers, eligible companies and firms, and / can apply.
The borrower must be at least 21 years old; the applicant/co-applicant/guarantor's age plus the repayment period must not exceed 70 years.
Total deductions including the proposed may not exceed 60% of gross monthly income below ₹50,000, 70% from ₹50,000 to below ₹1,50,000, or 80% at ₹1,50,000 and above for salaried applicants.
For other applicants, total deductions may not exceed 60% where average annual income over the last two years is below ₹6 lakh, or 80% at ₹6 lakh and above.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

Signed application form with three passport-size photographs.
Photo identity proof with age proof, such as card, passport or driving licence.
Residence proof, such as passport, voter , driving licence, postpaid utility bill, updated passbook or bank account statement, or a notarised registered rent agreement.
Bank statement for the last six months.
Salaried applicants: last three months' salary slips and Form 16 or Income Tax Returns.
Self-employed applicants: balance sheet, profit and loss account and income computation for the last two years; Income Tax Returns for the last two years, 26AS and TRACES; business proof such as a registration certificate; and applicable income-tax assessment, challan, /Form 16A or Form 26AS evidence.

Try the numbers

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

Amount you want to borrowThe money you would receive from the lender.₹twenty-five lakh rupees₹50,000₹2,00,00,000Yearly interest rateThe percentage charged on the outstanding loan each year.%2%30%Time to repayA longer time usually lowers the monthly payment but raises total interest. months6 months360 months

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees

Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees

Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

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· Published value7.90% = repo 5.25% + markup/base spread 2.65%

This value is copied from Bank of Baroda retail-lending benchmark reference. Check the table notes before relying on it.

Source: Bank of Baroda Retail Loans Interest Rates · benchmark; benchmark Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 3 rows · 4 columnsBank of Baroda retail-lending benchmark referenceCurrent benchmark values and effective dates from the official retail-loans rate page.View tableHide table