Bank of Baroda (BOB) Car Loan Interest Rates 2019: Sona Copy Here

Sona copy here The Journey of Milind M Kulkarni & Associates started in 1986-87 as a
proprietorship which has gradually grown to a firm of Chartered Accountants with a

senior partner having professional experience of 31 years and other young and talented
partners having domain expertise and professional acumen.
The Approach of ‘One Stop Shop’ was gladly welcomed by the business community
especially by young and upcoming first generation entrepreneurs in Nasik.
The service delivery with strict adherence to principles, values and professional ethics
helped to create a reputation as an honest, sincere and caring consultant in the city,
and developed a wide client base.
Today, the firm is housed in spacious premises spanning around 3500 sq.ft. at a central
location of Nasik city. It has the ambience and amenities conducive to a Corporate
Culture and promoting Professionalism and Efficiency.
This enables us to cater to the requirements of a wider client base demanding quality
professional services matching the global standards.
Our team comprises of 6 Chartered Accountants, 1 practicing Company Secretary and
1 Senior Advocate as professional associates and young and energetic staff of 7
seniors, 13 juniors and 14 articled trainees
Bank of Baroda (BOB) Car Loan Interest

Rates 2019
Bank of Baroda offers loans that are designed to suit the needs of individuals and
corporates looking to buy a car to suit their needs and requirements. Bank of Baroda
finances a variety of cars and offers loans of up to Rs. 100 lakhs along with a maximum
repayment tenure of 7 years. Apart from this, an additional unique facility offered is the
installation of LPG/CNG gas kit for cars thereby enabling customers to be more
environmentally conscious.
Particular Charges
Base Rate 8.60% to 10.35%
Rate of Interest B.R + 0.25%
Loan Tenure A maximum of 7 years
A maximum of Rs. 100

Loan Amount
lakhs
15%-20% on the road price

Margin
of the car
Particular Charges
Prepayment
Nil
Charge
Headquartered in Vadodara, Gujarat, Bank of Baroda is one of the largest banks in the
country and was founded in 1908. Bank of Baroda has over a 100 offices all over the
world and offers various financial services to individuals and corporates.
Affordable car loans are provided by Bank of Baroda for those looking to own their
dream car. These loans are easy to procure, offer flexible tenures at competitive interest
rates and do not require extensive documentation.
How to calculate Interest rate on my Bank of Baroda Car

Loan
EMIs or Equated Monthly Installmentsis a flexible and easy way to repay car loans.
These EMIs consist of both the principal amount and the interest amount and the
interest portion depends on the rate of interest determined by the Bank of Baroda. Apart
from this, the loan tenure also plays a significant role.
Documentation needed to apply for an Bank of Baroda Car

Loan
 1. Photo ID and age proof
 2. Signed application form with photograph
 3. Residence proof
 4. Last 6 months' bank statement
 5. Documentation for salaried applicants:
o Last 3 months' salary slips

o Form 16 or Income Tax Returns
 6. Documentation for self-employed applicants:
o Last 3 years' Income Tax Returns with computation of Income

o Last 3 years' CA Certified / Audited Balance Sheet and Profit & Loss Account
Search for Car Loans >>
Bank of Baroda Car Loan Interest RatesUpdated on 15 Mar 2019

Bank of Baroda Car Loan Details
Interest Rate 8.60% to 10.35%
Processing
Rs.2500 to Rs.10000
Fees
Loan Tenure 7 years
4% of Principal
Pre Closure outstanding within 6
Charges months, after 6 months –
Nil
Search for loan >>
Bank of Baroda Overview

Started in 1908 as a small financial enterprise, the Baroda Sun identified with the logo
of Bank of Baroda has risen to be one of the leading international banking institutions.
Bank of Baroda’s story of growth has been one with corporate vision, keen governance
and financial prudence. Bank of Baroda has been a harbinger of social change,
efficiently catering to their clientele with innovative solutions and always being a
constant partner providing assistance for their different financial needs. Bank of Baroda
now offers a wide range of products to its large customer base with exciting benefits
and advantages. Bank of Baroda car loans are widely sought out by customers for their
low charges, additional concessions and exciting discounts.
With presence in 25 countries, Bank of Baroda currently serves 69 million customers
through 5558 branches including 1166 branches in Indian metro cities and 107
overseas branches as on 30 September 2017. The bank also has 74 regional offices
and 13 zonal branches in order to serve its customers better. BoB is associated with 2
banks in Zambia and Malaysia, and has subsidiary branches in Botswana, Kenya,
Uganda, Guyana, New Zealand, Tanzania, Trinidad & Tobago, and Ghana. In the
Indian subcontinent, the bank has 4 subsidiaries, 3 joint ventures, and is associated
with Baroda Pioneer Asset Management Company Ltd., Baroda Rajasthan Gramin
Bank, Baroda Gujarat Gramin Bank, and Baroda Uttar Pradesh Gramin Bank.
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8.80%Floating
1Cr MaxLoan Amount
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100% PAPERLESS APPROVAL
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8.85% - 11.60%Fixed
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100% PAPERLESS APPROVAL RS.2,500 AMAZON VOUCHER
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8.60% - 11.50%Fixed
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8.95% - 13.40%Fixed
1L MinLoan Amount
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RS.2,500 AMAZON VOUCHER
Need Car Insurance? Check it out car insurance price online for your dream vehicle.
Why choose a Bank of Baroda Car Loan?

Bank of Baroda car loans are a natural choice for customers seeking a car loan for their
new cars. Bank of Baroda offers flexible repayment options, concessions on interest
rates and the lowest processing fee in the industry. A Bank of Baroda car loan also has
a unique feature provided to NRI customers for installation of CNG-LPG gas kits in new
cars
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Bank of Baroda Car Loan Interest Rate

Last Updated 07th Mar 2019
Bank of Baroda Car Loan Interest Rate Mar 2019
Bank of Baroda New Car Loan interest rate starts from 8.90% and Bank of Baroda Used Car Loan interest
rates starts from 10.45% . These are Floating rate loans and are one of the best car loan rates in India.
Rate of interest vary by borrower occupation, loan amount and loan tenure.
Bank of Baroda Car Loan
Features New Car Loan Used Car Loan
Processing Fee 0.75% Max Rs. 0.75% Max Rs.

10,000 10,000
Loan Tenure Upto 7 years Upto 3 years

Lowest EMI Rs. 1,604 per lakh Rs. 3,175 per
lakh
Loan Amount Upto 85% of on- Upto 80%

road price
Prepayment Nil Nil

Charges
High Loan amount of up to Rs. 1 crore across categories
APPLY LOAN ONLINE AT MYLOANCARE
Personal Loan
@ 10.75%*
Home Loan
@ 8.65%*
Gold Loan
@ 10.50%*
Business Loan
@ 13.50%*
Loan Against Property

@ 8.80%*
Credit
Card
Do More
 SBI Car Loan Rate

 HDFC Bank Car Loan Rate
 ICICI Bank Car Loan Rate
 Compare Rates of Other Banks
 Calculate Bank of Baroda EMI
 Check Bank of Baroda Eligibility
 Explore Personal Loan
 Check EPF & Credit Report
Bank of Baroda Car Loan
Bank of Baroda gives car loan to borrowers who need funds to buy a new car. Benefits of taking vehicle loan
from Bank of Baroda are:
 High Loan amount of up to Rs. 1 crore across categories
 Zero prepayment charges
 Eligibility up to 60 per cent of gross monthly income
 Low processing fee starting from 0.50 percent of loan amount
Compare Car Loan Rates of All Banks in India
Bank of Baroda Car Loan Interest Rate

Bank of Baroda Car Loan interest rate depends upon following factors -
 Loan amount: Generally banks offer lower interest rates for higher amount. Bank of Baroda offers 85% of
on-road price of your car.
 Your Salary: Higher salary bracket individuals are offered loans at lower interest rates. Car Loan interest
rate Bank of Baroda varies with your net monthly income.
 Employer Category: Employer category of the borrower is a major deciding factor in order to determine
his/her rate of interest. Bank of Baroda has a list of company categories of salaried individuals to which they
avail vehicle loan. So, higher company category leads to low Bank of Baroda car loan rate.
 Relationship with the Bank: Bank of Baroda offers special rates, offers and charges to the existing account
holders of the bank. Those who have managed their accounts and made all the payments on time in past will
get benefit of low vehicle loan interest rate.
 Loan Tenure: Bank of Baroda vehicle loans are of longer repayment tenure of 7 years.
 Repayment Capacity: Before giving loan to the borrower, Bank of Baroda checks the repayment capacity of
the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of
previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.
Bank of Baroda Car Loan Eligibility

The following table depicts the various eligibility criteria for availing a vehicle loan.
Eligibility Criteria Eligibility Details
Age 21 years - 65 years
Minimum Annual Income
Minimum Credit Score 700 and above
Loan Tenure 7 years
Loan to Value Ratio 85% of on-road price
Car loan eligibility relies upon different factors but the most important factor is your ability to repay the loan.
The main factors on which the eligibility of an applicant depends are:
Age: Age plays an important role to know your eligibility and repayment capacity. Bank of Baroda offers auto
loan to those who are atleast 21 years old at the time of loan approval and maximum 65 years at the time of
loan maturity.
Income: Bank of Baroda car loan calculator calculates your eligibility based upon your income. Usually bank
set minimum levels of income to apply for car loan.
Job stability and Profession: Job stability is important to improve your status and eligibility for vehicle loan
from Bank of Baroda. If you are working with a reputed company, probability of getting car loan increases as
the income is considered to be more stable and bank offers best Bank of Baroda car loan interest to the
employees of reputed companies.
CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has a direct
impact on your Bank of Baroda car loan eligibility. If you have a poor repayment record, then you may not get
the loan but on the other side, a regular repayment record increases your vehicle loan eligibility. Generally,
Bank give loan at a CIBIL score of 700 and above.
Loan Amount: Bank of Baroda auto loan amount depends upon your income. Bank of Baroda Bank gives
100% of ex-showroom price depending upon the value of the car. To improve chances of approval, apply for
a loan amount that you can comfortably service and check your Bank of Baroda car loan status online and
avial multiple benefits.
Bank of Baroda Car Loan Calculator

Car Loan EMI of Bank of Baroda is a fixed amount that you pay each month towards the repayment of your
car loan till the end of tenure. Lowest EMI offered by Bank of Baroda is Rs. 1,604 per lakh loan amount at
lowest car loan interest rate of 9.25%. Car Loan EMI of Bank of Baroda depends on factors like:
 Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the
EMI.
 Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh.
 Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for
a high loan amount.
Bank of Baroda EMI Car Loan Calculator
 Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
 The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby
you pay interest on the loan amount outstanding on a reducing basis at or after the end of the month.
 Simply key in the loan amount, rate of interest and vehicle loan tenure here and check the EMI amount using
the vehicle loan EMI calculator here. In case the EMI amount displayed is different from the one advised to
you by the agent, you must check the calculation basis with your vehicle loan agent.
Illustration
You can calculate the monthly payment (EMI) yourself using the following equation
E= P. r. (1+r)n/[(1+r) n -1]
Where,
 P represents the principal amount that you want to apply for.
 r is the rate of interest per month which is calculated as rate of annual income/ (12*100)
 n is the tenure of loan in months
 E represents the monthly payment or EMI
Let’s say you take out a vehicle loan for Rs. 700,000 to be paid back over 5 years at an interest rate of 9.25%.
Your monthly payments for this loan after applying the above formula would be Rs. 14,616 for 5 years.
Bank of Baroda Auto Loan Fee and Charges
Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before
the end of tenure period. Bank of Baroda allows prepayment of vehicle loan after paying 1 EMI with
prepayment Nil.
Processing Fee - Bank of Baroda asks for a processing fee of 0.75% of loan amount. Max. Rs.10,000 with
applicable service tax.
Bank of Baroda Car Loan Top up, Balance Transfer

 Bank of Baroda offers car loan balance transfer from another bank. This is subject to your meeting other
eligibility criteria
 You can avail additional top-up car loan from Bank of Baroda, subject to your eligibility
Documents required
Salaried Employees
 Filled up loan application form
 2 Passport Size Photo
 Copy of Income Tax PAN
 Identity Proof –Aadhaar, Passport/ Driving License/ Voter ID/ PAN
 Quotation of car
 Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old),
Passport
 Income Documents – 3 months pay slip, 2 years Form 16, 3 months bank statement showing salary credit
and any EMI debit
 R.C of Vehicle and Insurance of Car
Self-Employed
 Identity Proof – Aadhaar, Passport/ Driving License/ Voter ID/ PAN
Passport
and any EMI debit
 R.C of Vehicle and Insurance of Car.
Frequently Asked Questions on Bank of Baroda Car Loan
What is car loan interest rate offered by Bank of Baroda ?
As per current interest rates, Bank of Baroda car loan interest rates are in the range of 8.90 % to 10.65%.
What is the lowest EMI per lakh on Bank of Baroda car loan?
Lowest EMI per lakh is Rs. 1,604 for Bank of Baroda for a loan availed at an interest rate of 8.90% and for a
tenure of 7 years.
What is the maximum tenure of Bank of Baroda car loan?
You can repay your Bank of Baroda car loan in a flexible period of 7 years.
How much car loan I can borrow from Bank of Baroda?
Bank of Baroda offers you 85% of on-road price of car as loan.

How much processing fee is charged by Bank of Baroda on car loan?
Bank of Baroda charges a processing fee of 0.75% of loan amount Max. Rs. 10,000 with applicable service tax.
Is age an eligibility factor to get car loan from Bank of Baroda?
Yes, age is an important eligibility factor to get Bank of Baroda car loan as you should be at least 21 years old
at loan approval time and 65 years old at loan maturity time.
Are there any prepayment charges on Bank of Baroda car loan?
You can take car loan from Bank of Baroda with prepayment nil.
Can I add my spouse's income while applying for car loan from Bank of Baroda ?
You can combine your income with the income of your spouse to increase your loan eligibility and to get
higher loan amount.
Compare Car Loan Interest Rates of Bank of Baroda with other banks
 HDFC Bank
 SBI
 ICICI Bank
 Axis Bank
 IndusInd Bank
 Kotak Bank
 PNB
 Union Bank of India
 Central Bank of India
 Andhra Bank
 IDBI Bank
 Federal Bank
 Bank of India
 Bank of Maharashtra
 Corporation Bank
 Indian Bank
 Bank of Baroda
 OBC
 United Bank of India
COMPARE CAR LOAN DETAILS OF BANKS
Select First Bank
Select Bank Name HereAndhra BankAxis BankBank of BarodaBank of IndiaBank of MaharashtraCentral Bank of
IndiaCorporation BankFederal BankHDFC BankICICI BankIDBI BankIndian BankIndusInd BankKotak BankOBC
Select Second Bank
Select Third Bank
COMPARE NOW
Related Topics
 Compare Car Loan Interest Rates

 Calculate Car Loan EMI
 Check Car Loan Eligibility
 Used Car Loan Interest Rate
 Car Loan Reviews
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 How to Get a Perfect Credit Score: A Step by Step Guide
Bank of Baroda Car Loan News - Mar 2019
 2017-12-18 : Mega car loan mela by Maruti Suzuki, Varun Motors
Maruti Suzuki car dealer Varun Motors & Maruti Suzuki had jointly organised a Mega car loan mela & exchange
carnival at Wesley College Ground Paradise and LB Nagar Exhibition Ground near ICICI Bank. Inaugurated by
K V Tulshi Bagwale, Deputy General Manager of Bank of Baroda, the new Maruti Celerio X was also launched.
 2017-09-06 : Bank of Baroda plans to scale up its car loan lending
Public sector lender, Bank of Baroda (BoB) is planning to scale up car loan lending, while some of the lenders
including State Bank of India (SBI) and Axis Bank has already stopped car loans to the cab aggregators. As per
the bank’s available data, the bank has financed more than 500 cars for Uber drivers in FY18 and is in the
process to finance more.
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Axis Bank Car Loan
If you’re looking for a car loan that offers up to 100% of the on-road price, a maximum
repayment tenure of 7 years, and financing for second-hand as well as new cars, then Axis
Bank car loans are just the right fit for you. Get to know all about Axis Bank car loans on
BankBazaar.
More
We found 1 Axis Bank Car Loan

Axis Bank Car Loan
8.60% - 11.50%Fixed
1L MinLoan Amount
View Details
Get Quote
Are you looking to purchase your dream car this year? For a quick and cost-effective
method of purchasing your dream car, opt for Axis Bank car loans. Axis Bank offers car
loans for new as well as used cars. You can avail a loan amount of Rs.1 lakh and above
from Axis Bank to purchase a new or used car with a maximum tenure of 5-7 years. The
interest rate applicable for a new car loan is 9.15% p.a. for salaried customers and up to
100% on-road funding. The interest rate applicable for a used car is up to 90% funding
of the valuation amount.
At Axis Bank, you can also avail loan against car for a loan amount of Rs.10 lakh and
above for a tenure of up to 15 years. The interest rate applicable for a loan against car
is 10% of the part payment amount up to 180 days from the date of disbursement.
You’re probably eligible for an Axis Bank Car Loan if you

are
At least 21 years old
Less than 75 years old
Salaried or self-employed
with regular income
Earn more than the minimum
income required
Check if you’re eligible >>
Your Axis Bank Car Loan amount eligibility is based on

these factors
Minimum income required

Rs.20,000 per month
Loan capped @
95% of the ex-showroom price
EMIs of other loans lower

your eligibility
Check how much you can borrow >>
Increase your eligible Axis Bank Car Loan amount by these
steps
Pay off your credit card bills
Choose longer tenure loan up to 7 years

Check eligible loan amount >>
Documentation needed to apply for an Axis Bank Car Loan

 1. Signed application form with photograph
 2. Photo ID and age proof
 3. Residence proof
 4. Last 6 months bank statement
 5. Documentation for salaried applicants:
o Last 3 months salary – slips

o Form 16 or Income Tax Returns
 6. Documentation for self-employed applicants:
o Last 3 years Income Tax Returns with computation of Income

o Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Apply now >>
Axis Bank Car Loan Interest RatesUpdated on 15 Mar 2019

Axis Bank Car Loan Details
Interest Rate
(Monthly
8.60% to 11.50%
reducing
balance)
Processing Fees Up to Rs. 5500
Loan Tenure 1 year to 7 years
10% of principal
outstanding (plus GST) till
Pre-closure 6 months. 5% (plus GST)
Charges thereafter. Two part-
payments allowed per
financial year
Guarantor
No guarantor required
Requirement
Search for loan >>

Overview About Axis Bank Car Loan
Axis Bank Limited is the third largest private sector bank in India. It offers financial
services to customer segments covering Large and Mid-Corporates, MSME, Agriculture
and Retail Businesses. Axis Bank offers uniquely tailored car loan products that take the
pain and hassle out of buying a car. Axis Bank car loans are flexible, transparent, quick,
and cost-effective. Special benefit available for Priority Banking, Wealth Banking and
Privee banking customers. On BankBazaar.com you can check your eligibility in
seconds for a Axis bank car loan by filling in a short form and you can apply online. To
know more, follow some simple steps given below to get attractive deals.
Axis Bank is popular for it’s incomparable car loan schemes in India, with it’s
uncomplicated processing, flexible tenures, and superior customer service. Low interest
rates make this car loan very attractive and affordable. Car loan finance rates fluctuate
based on external market conditions but still Axis Bank ensures that the car loan
interest rates are competitive and reasonable.
Why choose Axis Bank Car Loan?

Axis Bank offers affordable car loans at low interest rates. The process for availing car
loan is simple and transparent and the bank also offers the option of flexible tenures.
Customer service provided by the bank is very unique and customer centric.
Axis Bank Car Loan Interest Rate (New Car)
Axis Bank new car loan charges are transparent and kept to a minimum. Extra charge is
applicable on charges and fees wherever GST is applicable.
Type of charge Charges
Interest rate 11% to 12% p.a.
Processing fee Rs.3,500 to Rs.5,500
Documentation
Rs.300
charge
Loan cancellation Rs.1,000 per instance
 10% of the part payment

charges up to 180 days
from the date of
Part payment disbursement
charges  5% of the part payment
charges after 180 days
from the date of
disbursement
 10% of the principal
outstanding up to 180
days from the date of
Foreclosure charges disbursement
outstanding after 180
disbursement
Stamp Duty charges At Actuals
Issuance of Credit
Rs.50 per instance
Report
Late Payment Penal

2% per month
Interest
Duplicate No Dues
Rs.500 per instance
Certificate (NOC)
Type of charge Charges
Duplicate repayment
schedule issuance Rs.500 per instance
charges
Duplicate statement
Rs.500 per instance
issuance charges
Cheque or
instrument swap Rs.500 per instance
charges
Cheque bounce or
instrument return Rs.500 per instance
charges
Axis Bank Car Loan Interest Rate (Pre-owned Car)

Axis Bank pre-owned car loan charges are transparent and kept to a minimum. Extra
charge is applicable on charges and fees wherever GST is applicable.
Type of Charge Charges
Interest rate 14.50% to 16.25% p.a.
Documentation
Rs.300
charge

from the date of
from the date of
disbursement
Foreclosure charges  10% of the principal


disbursement
disbursement
Issuance of Credit
Rs.50 per instance
Report
Late Payment Penal

2% per month
Interest
Duplicate No Dues
Rs.500 per instance
Certificate (NOC)
Duplicate repayment
charges
Duplicate statement
Rs.500 per instance
issuance charges
Cheque or
charges
Cheque bounce or
charges
Interest Rates and Charges for Loan against Car at Axis

Bank
Axis Bank Loan against Car charges are transparent and kept to a minimum. Extra
charge is applicable on charges and fees wherever GST is applicable.
Interest rate 14.50% to 16.25% p.a.
Documentation
Rs.300
charge

from the date of
from the date of
disbursement
Foreclosure charges disbursement
disbursement
Issuance of Credit
Rs.50 per instance
Report
Late Payment Penal

2% per month
Interest
Duplicate No Dues
Rs.500 per instance
Certificate (NOC)
Duplicate repayment
charges
Duplicate statement
Rs.500 per instance
issuance charges
Cheque or
charges
Cheque bounce or
charges
How to apply for Loan Against Car at Axis Bank?

To apply for a Loan against Car, you can visit the Axis Bank website and request a Call
Back by filling out an online form with personal details such as your name, gender,
mobile number, email ID, and address. A bank executive will call you back and provide
assistance with the car loan application process. Or, you can locate the nearest Axis
Bank Loan Centre on the website and apply for the loan in person.
Axis Bank - New Car Loan

At Axis Bank, eligible customers can apply for a new car loan of up to 95% of the ex-
showroom price on select models of cars.
Features of Axis Bank Car Loan

Most customers opt for Axis Bank car loans for its simple and easy application process,
speedy loan processing, minimum documentation, and fast loan disbursement.
Applicants can track the status of their car loan application online. Here are the features
and benefits of new car loans at Axis Bank:
 Get high-value car loans to purchase new cars at Axis Bank, the minimum loan amount that
can be availed is Rs.1 lakh to a maximum of up to 85% on-road funding.
 The interest rate for new car loan starts from 11% p.a.
 The loan tenure ranges from 1 to 7 years.
 Benefit from a high Loan-to-Value (LTV) ratio at Axis Bank, get up to 95% of the ex-
showroom price on select models of cars.
 For priority banking, wealth banking and privee banking customers, the processing fee is only
Rs.1,000. No income documents required for documentation.
 Club 50 and Channel One Current Account holders at Axis Bank can benefit from special
surrogate scheme in the form of waiver of income documents.
 Axis Bank salary customers can benefit from special scheme in the form of a waiver of
income documents.
 Earn 350 Axis eDGE Rewards points by submitting post-disbursal documents within 60 days
of first loan instalment being disbursed. To redeem reward points, check the Axis eDGE
rewards catalogue, available on the bank website.
Self-employed individuals, HUF, Trusts, partnership companies, proprietorships,
societies, and Limited Liability Partnership Firms can apply for car loans at Axis Bank.
Why apply for an Axis Bank Car Loan on BankBazaar.com?

BankBazaar.com is an avant-garde loan comparison website which provides accurate
and reliable information on probable car loan options, through an uncomplicated
interface, that is focused on bringing both the pros and cons of the associated car loan
plan. Applying for a car loan with Bankbazaar.com is advantageous due to the following
reasons :
1. One Stop Destination for Multiple Products - Bankbazaar offers multiple choices of car loans,
based on your specific requirements. Customers interested in Axis Bank car loan can go through
all related information and products, offers, etc available for this loan.
2. Lowest Interest Rates- BankBazaar.com is associated with market leaders like HDFC Bank, Axis
Bank,ICICI Bank and many others who help us obtain the lowest interest rates on personal, car or
home loans for you. By applying through Bankbazaar.com for your Axis Bank car loan, you can
avail special interest rates and offers on your car loan that is not available anywhere else.
3. Instant Quotes- By filling up a simple online form, the customer can help us evaluate the perfect
loan options for him/her. For Axis Bank Car loan, based on information provided, BankBazaar.com
will provide you all the information related to the amount of car loan that can be availed, interest
rates and schemes that can be looked into and so on.
4. Simple Online Comparison- In order to justify your decision to avail Axis Bank car loan you can
compare loans from different Banks against each other for your specific suitability- rate of interest,
EMI, processing fees,customer feedback, etc. With Bankbazzar.com, customers get to make wise,
informed decisions.
5. Transparent Procedures - Bankbazaar.com isn’t a mediator, a promoter/dealer or agent of any
bank. Our assessment of the available car loan options and plans is always impartial and
objective, so that customers can make informed decisions.
6. Privacy- Personal information is treated with high regard and kept very confidential. The
information you provide is only shared with your chosen lender, and never shared with a third
party for any reason whatsoever.
Top banks in India like HDFC, ICICI and Axis Bank swear by the Bankbazaar.com
name. Our steadfastly reliable online technology has been assiduously adopted by
these lenders to provide their customers the best loan experience on their own
websites.
How to apply for an Axis Bank Car Loan on

BankBazaar.com?
Applying for an Axis Bank car loan on Bankbazaar.com is a simple and quick process.
The step by step procedure is as follows -
 On Bankbazaar.com’s homepage, select Car Loan from the various loan options on offer. It
turns up results from popular loaning banks (with regards to the loan option selected) and the
user friendly ‘Get Quote’ and ‘Explore’ buttons. Clicking on either of these will open up a
simple interface with a couple of questions. Provide the requisite information and respond to
the various uncomplicated prompts. Choosing Axis Bank directly from this menu will allow you
to properly check the features and benefits associated with the Bank. The ‘Apply Now’ option
takes this step further.
 Once you have made up your mind to avail Axis Bank car loan, select the car loan option and
quote offered by the bank by clicking on it.
 After the submission of the online application, you will receive an instant e-approval from
Bankbazaar.com. This application is next transferred to your chosen bank from wherein a
customer support executive will get in touch with you within a short duration of time. The
status of your application can be tracked through email and sms as well.
Availing services provided by Bankbazaar.com helps save your time, money and efforts,
while assuring you the best loan options that is tailor made for your exclusive
requirements.
Axis Bank Car Loan Eligibility

The eligibility criteria for new car loans at Axis Bank is as follows:
 Salaried individuals aged 21 to 70 years (at loan maturity) with an annual income of
Rs.2,40,000 p.a. for all approved models of cars. The applicant must have minimum 1 year of
continuous employment. The applicant's income eligibility is based on the latest salary slip
and Form 16.
 Self-employed non-individuals with a minimum net annual business income of Rs.1,80,000
p.a. for select models of cars and Rs.2 lakh p.a. for others. The applicant must have minimum
3 years of employment in the same field of business. The applicant's income eligibility is
based on the Income Tax Returns (ITR) and audited financials of last 2 years.
 Self-employed individuals aged 18 to 75 years (at loan maturity) with an annual income of
Rs.1,80,000 p.a. for select models of cars and Rs.2 lakh p.a. for others. The applicant must
have minimum 3 years of employment in the same field of business. The applicant's income
eligibility is based on the Income Tax Returns (ITR) and audited financials of last 2 years.
 Priority banking, wealth banking and privee banking customers with a vintage of 6 months
and an Average Quarterly Balance (AQB) of Rs.1 lakh for the last 2 quarters are eligible for a
maximum new car loan amount of 3 times the AQB in the last 2 quarters.
 Customers with a salary account at Axis Bank for the last 3 months.
 Salary customers who work with Public Limited Companies, Private Limited companies or
MNCs are eligible for new car loans. Permanent employees of state or central government,
public sector undertakings, reputed schools or colleges are also eligible for new car loans at
Axis Bank.
Axis Bank Car Loan EMI Calculator

To find out how much your car loan will cost you on a monthly basis, use the Car Loan
EMI Calculator. Enter the chosen loan amount, loan tenure, interest rate, and
processing fee in the tool, and get instant results. You can check your eligibility for the
chosen loan amount with the instant and accurate calculations given by the EMI
calculator.
Through Bankbazaar.com, calculation of the EMI on Axis Bank car loan is a simple and
quick process. Our Car Loan EMICalculator tool is designed to calculate the applicable
EMI on your car loan and the total interest due, in a matter of seconds. Simply, follow
the steps listed below-
Go to Finance tools and select car loan emi calculator. After that, fill in details required
such as loan amount that you wish to borrow can be entered using the slider or the edit
box, tenure of loan, interest rate and processing fee. The calculator will then work out
the exact pattern of your loan repayment.
By entering the four fields, you can see the monthly EMI which you have to pay to Axis
Bank in order to pay off your car loan. Based on your eligibility BankBazaar will show
you car loan offers from Axis Bank. You can then select the offer and apply online.
Axis Bank Car Loan Foreclosure

Axis Bank customers have to shell out relatively high foreclosure charges if they wish to
pre-close their loan before the determined date.
 5% of the principal outstanding loan amount if they are making a foreclosure after 180 from
the commencement of the loan.
 10% of the principal outstanding loan amount if they are making a foreclosure before 180
from the commencement of the loan.
Axis Bank Car Loan - Verification Process

For the verification process, customers will have to submit the following documents.
 Salaried individuals can submit either their Aadhaar card, PAN card, Passport, Voter’s ID card
or Driving License, or latest salary slip and Form 16 for identification proof and Aadhaar card,
Passport, Voter’s ID card, Telephone bill, Electricity Bill or Life Insurance policy for address
proof.
 Self-employed individuals can submit either their Aadhaar card, PAN card, Passport, Voter’s
ID card or Driving License or latest Income Tax Return form for identification proof and
Aadhaar card, Passport, Voter’s ID card,
 For self-employed individuals from a Public Limited Company, they have to submit either an
audited balance sheet, profit or loss account of the past year or the company ITR form for the
last two years as proof of income. For address proof, customers can submit either their
telephone bill, electricity bill, establishment certificate, SSI registered certificate or sales tax
certificate.Telephone bill, Electricity Bill or Life Insurance policy for address proof.
 For self-employed individuals from partnership firms, they have to submit either an audited
balance sheet, profit or loss account of the past year or the company ITR form for the last two
years as proof of income. For address proof, customers can submit either their telephone bill,
electricity bill, establishment certificate, SSI registered certificate or sales tax certificate.
 For self-employed individuals from a Private Limited Company, they have to submit either an
audited balance sheet, profit or loss account of the past year or the company ITR form for the
last two years as proof of income. For address proof, customers can submit either their
telephone bill, electricity bill, establishment certificate, SSI registered certificate or sales tax
certificate.
Axis Bank Car Loan Tips

If you’re new to availing a car loan from Axis Bank, make sure you follow the below
listed tips or guidelines.
 Plan your finances for the month.
 Choose a car within your budget.
 Make sure that your credit score is optimum before applying for the loan - anything above 750
is good. The higher your credit score the lower will be the interest rate added to your loan.
 Keep the tenure short - especially for a car loan as the value of your car depreciates as the
years go by.
 Take an insurance policy against your car loan - to cover the loan liability in case of an
eventuality.
 Ensure that your debt-to-income ratio does not surpass 40% of your monthly net income.
 Make a down payment north of 20% of the total loan amount. This too will reduce the interest
rate significantly.
 Never miss an EMI payment. If you do, immediately speak to the bank and make an
adjustment.
Axis Bank Car Loan FAQs

1. How can I find my Axis Bank Car Loan Status online?
Axis Bank car loan customers can track applications made on Bankbazaar.com
through SMS alerts and mails. Axis Bank car loan status can also be checked online
through the Axis Bank portal.
2. Where can I find the Axis Bank Car Loan Application Form?
Customers can apply for a car loan online through the Bankbazaar website or the
Axis Bank website using the online Axis Bank car loan application form.
3. Is it possible to check the Axis Bank Car Loan Statement Online?
Yes, borrowers can get their car loan statements through the Axis Bank online
banking portal.
4. Can I make part - prepayment and if so what are the Axis Bank Car Loan Prepayment
Charges ( Pre Closure Charges)?
Yes, you can make a part-prepayment towards your Auto Loan. Part payment
Charges are 10 % of the part payment amount up to 180 days from date of
disbursement and after 180 days 5% charge would be levied from date of
disbursement.
5. How do I contact Customer care for more details on Axis Bank Car Loan?
Our dedicated and qualified team of customer care executives are available at
xxxxxxxxxx and will be happy to assist customers with any queries regarding Axis
Bank car loans.
6. What are the documents required for availing a car loan through Axis Bank ?
List of documents required are :
o Proof of Age
o Identity proof
o Duly filled application form
o Photograph of applicant
o Proof of residence
o Income proof
o Latest Bank statement
o Signature verification proof
o Rate List or Pro-forma Invoice
Post Sanction / Pre Disbursement Documentations required are :
o The duly signed Loan Agreement along with RTO set.
o Request for Standing Instruction (SI) or ECS form or post dated cheques (PDCs). Security
Cheques are required for SI and ECS.
o Margin money receipt.
7. How to apply for an Axis Bank Car Loan?
You can use any of the following methods to apply for a car loan from Axis Bank.
o You can apply online on the Axis Bank website.
o You can visit any Axis Bank Loan Center. A list of the centers is available on the
Axis Bank Website.
o You can also call the customer care center on the Axis Bank toll free lines.
o Axis Bank also provides an SMS service. Send “Car” to XXXXXXX to start the
process.
8. What is the minimum loan amount I can get from Axis Bank?
Axis Bank offers a minimum of Rs. 1 lakh to purchase a car.
9. What is the maximum loan amount I can get with an Axis Bank Car Loan?
The maximum loan amount you can get from Axis Bank to buy a car will depend on
your eligibility criteria. The bank will also take into consideration the finance
requirements, your income and repayment capacity.
10. What is the minimum loan tenure?
Axis Bank offers car loans with repayment tenures starting from 12 months.
11. What is the maximum loan tenure?
Axis Bank offers car loans with flexible repayment tenures that can be extended to a
maximum period of 60 months.
12. What is the interest rate on Axis Bank Auto Loan?
Axis Bank charges 11.00% - 12.00% as interest. The interest rates offered are fixed.
13. Are there any processing fees on Axis Bank Car Loans?
Yes, Axis Bank levies processing fees within the bracket of Rs. 3,500 to Rs. 5,500
which is inclusive of tax. You also need to pay Rs. 300 as documentation charges.
Processing fees are kept transparent and to a minimum.
14. What are the charges for late payment?
Axis Bank will charge 2% per month for late payments.
15. Can I preclose my car loan?
Yes, you are allowed to foreclose your car loan. You can submit a request for
preclosure at any Axis Bank Loan center.
16. Are there any foreclosure fees on the car loan from Axis Bank?
Yes, Axis Bank will levy 5% of the outstanding principal amount + GST.
17. Does Axis Bank allow part payments on the car loan?
Yes, you can make part payments on your car loan but this will be allowed only twice
in a loan calendar year. You can make only one part payment in the loan calendar
month. The minimum amount needs to be equal to one EMI. The maximum part
payment allowed is 25% of the principal balance in one year.
18. Are there any charges for part payment?
Yes, 5% of the Part Payment amount plus GST will be charged as part payment fees.
19. What is the penalty for bounced cheque?
Rs. 500 is charged per bounced cheque.
20. How do I repay the loan? What are the options to pay EMIs?
You can make payments towards your loan EMIs in the following ways.
Post-dated cheques - You can handover post dated cheques to the nearest Axis
Bank Loan Center. Only non-Axis Bank account cheques will be accepted. This
option is available only in non-ECS locations. Subsequent sets of post dated cheques
should be submitted on time.
Electronic Clearing Service (ECS) -This service is available for customers to make
payments from non-Axis Bank accounts. EMIs will automatically be deducted from the
account on the EMI Due Date.
Standing Instructions - Axis Bank customers who hold a savings, current or salary
account can use this option. Non-Axis Bank customers can choose to open a savings
account to avail of this facility. The EMI amount will automatically be deducted from
this account, so make sure it is sufficiently funded by the due date.
21. Can I check the status of my loan application online?
Yes, you can visit the Axis Bank website to check your loan status. Select loans and
click on “Have/Applied for an Axis Bank Loan”. You can then click on “Check your
loan status online”. Fill in your Application ID and click on “Enquiry” to know the status
of your car loan.
22. Where can I get a Car Loan Application form?
You can visit an Axis Bank Loan center to procure this form. You can also get a
sample copy of all car loan application forms online on the Axis Bank website. Select
Products > Loans > Car Loans > How to apply.
23. For what kind of vehicles does Axis Bank provide car loans?
You can avail of car loans from Axis Bank to finance passenger cars, sports utility
vehicles (SUVs), and multi-utility vehicles (MUVs) that are purchased for personal use
and available in India.
24. What is the process of loan verification?
After you have submitted your loan application and required documents, Axis Bank
follows the procedure below.
o Processing and approval of the application form.
o Verification of documentation.
o Sanctioning the loan.
o Disbursement of the loan.
25. How long does the car loan process take?
Axis Bank takes up to 30 working days to make a decision and convey this
information to you. This time period is calculated from the date of receipt of your
application form which is complete and all documentation required. If the form is
incomplete, or the documents needed for a proper appraisal has not been submitted
by the customer, this period could be extended.
26. What security is acceptable to Axis Bank to get a car loan?
In the case of Axis Bank Auto Loans, the car itself will serve as security. You need to
hypothecate the vehicle to the bank for the period of the loan. No other collateral is
needed.
27. How do I remove the hypothecation on the vehicle after I have repaid the loan?
After you have repaid your loan, Axis Bank will guide you through the process of
removing the hypothecation. Axis Bank will provide you with the following documents.
o No Objection Certificate (NOC) will be issued for the Regional Transport Office
(RTO) and the Auto Insurance Company.
o No Objection Certificate issued by Axis Bank.
o Original Form 35.
You need to approach your Regional Transport Office (RTO) and submit these
documents. A fee for the hypothecation removal from the Registration Certificate will
be charged.
28. How do I change my email address in my car loan account?
You can change or update your address in the car loan account by calling the Axis
Bank toll free numbers. Simply inform them to make the change. Alternatively, you
can send an email to loans@axisbank.com from your registered email ID.
29. How do I change my phone number in my Axis Bank Car Loan Account?
You can change your phone number following the same procedure as changing your
email ID. You can call the Axis Bank toll free numbers and inform them to make the
change. Alternatively, you can send an email to loans@axisbank.com from your
registered email ID.
30. How do I contact the Axis Bank Customer Care for car loan queries?
You can call the following number toll free to contact the Axis Bank customer service.
1800 233 5577
1800 209 5577
1800 103 5577
You can also email them at loans@axisbank.com.
31. How I track my loan progress or repayment schedule?
You can track your loan account by placing a request for Statement of Account or
Repayment Schedule. You can also request for an interest certificate. Contact the
customer care via phone or email to place this request. You can also visit an Axis
bank Loan Center to get this information.
32. What is the income requirements for Axis Bank Car Loan?
o For salaried individuals, you need to be earning at least Rs. 2.4 lakhs per annum.
o Self employed individuals should be earning at least Rs. 2 lakhs per annum. This is
reduced to Rs. 1.8 lakhs on selected models.
o Self-employed non individuals should be earning at least Rs. 1.8 Lac p.a. for
selected models and Rs. 2.0 Lac p.a. for others.
o Under the special schemes for Priority/Wealth/Privee Customers, a minimum
Average Quarterly Balance of Rs. 1 lakh for the last 2 quarters completed is
required.
33. What are the documents required for a Axis Bank car loan application?
You need to submit the following documents along with your car loan application.
o Application form
o Photograph
o ID proof
o Age proof
o Address proof
o Income proof
o Signature verification proof
o Bank statement
o Pro-forma Invoice or Rate List
34. Are there documents required to be submitted after the loan is sanctioned?
Yes, you need to submit the following documents post sanction and before
disbursement.
o Duly signed loan agreement along with RTO set.
o Margin money receipt.
o Payment documents - Request for Standing Instruction, ECS Form, Post-dated
Cheques.
o 3 post dated Security Cheques are required for SI and ECS.
35. Do I need my CIBIL score to apply for an Axis Bank Car Loan?
Since a car loan is a secured loan, your CIBIL score might not be absolutely required.
But CIBIL scores help get your loan approved and fetch you good interest rates. You
can purchase your score on the CIBIL website for Rs. 500. Banks usually prefer a
score of 750 and above.
36. Can I cancel my loan application before it is sanctioned or disbursed?
Yes, you are allowed to make a cancellation on your loan application. However, Rs.
1,000 will be charged for cancellations. Additional charges can include stamp duty
charges and interest accumulation.
In Case You Missed It!!!
Car loan default - What, when and how
There have been instances where a customer has applied for a car loan but fails to pay the EMIs
that are needed to repay the loan amount. In such situations, the bank or lender will notify the
customer of the payments that need to be made. If the customer fails to respond to these
notifications, the customer will be termed as a defaulter. It is important that a customer reads the
offer documents carefully to ensure that they do not miss out on any EMI payments to avoid
tarnishing their credit profile. Read more about Car Loan Defaults
Importance of the car loan surrender letter
Whenever you take a car loan, you will find that there are types of clauses which can be complex
and confusing. These clauses are prepared in order to secure the interest of the lender. One of
these clauses is the surrender letter. It states that the borrower is ready to surrender the vehicle
when he or she violates the terms and conditions laid by the lender or when he or she defaults the
loan. This clause is very helpful to the banker when the borrower fails to respond to the lender's
notifications regarding repayment or when the borrower defaults the loan. Find out more about
a surrender letter here!
Manufacturer, dealer and agents role in a car loan deal
There is a large group of people in India who would purchase a new or used car with the financial
backing provided by a car loan. When a customer decides on purchasing a car, the dealer that they
approach will offer to guide them to the right financier who can offer a car loan at an affordable
interest rate. But we fail to notice the contributions made by a number of people when purchasing a
car. The manufacturer, agent, bank, and dealer all have an equal role to play in the purchase of a
car. Learn more on purchase of a four-wheeler.
Reality Check for Car Loan Freebies
There are a number of car dealers and manufacturers who resort to attractive discounts and offers to
make customers purchase their vehicles. This practice has been in effect for ages and has proven to
be a successful tactic which has resulted in an increase in annual sales. There are a number of
different offers that are provided such as discounts, free accessories, free servicing of the car, cash
discounts, free insurance, and many more. A customer can choose a dealer that provides the right
offer that works best with their needs and requirements. Read further to know more.
Things to consider when applying for a car loan
In today’s world, not all of us can purchase a car without the help of a car loan. With car loans being
one of the most popular financial products among the people of India, potential borrowers should be
equipped with the right information about the loan. There are certains conditions that need to be met
by a car loan applicant to be eligible for the loan. Interest rates will have to be negotiated,
documents would have to be submitted, and credit history are only a few of the factors which the car
loan applicant will have to consider and research on. Read on to know more about the important
points to consider when Applying for a Car Loan.
GST of 18% is applicable on all banking products and services from the 1st of July,
2017.
Disclaimer
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News About Axis Bank Car Loan
 Maruti Suzuki All Set to Launch the New Wagon R
The next-gen Maruti Suzuki is all set for its launch in the Indian car market. The car will be available for
purchase on 23 January 2019. The facelift version of the Wagon R will come with a wider and slightly
longer body, yet not deviating too much from its original dimensions.
The 2019 Wagon R bears very little resemblance to the previous versions of the hatchback. The front of
the car is constructed similarly to that of an SUV. Additionally, the car comes with taller headlights, a
matte black finish on the grille and lower bumper and a floating roof.
Under the hood, the car will be powered with a 1.2-litre, 4-cylinder engine. This will most definitely mean
higher power output and torque than its predecessors. The car will also come in CNG variants and with
automatic transmission options as well. The pricing for the new Wagon R is estimated to be around
Rs.4.5 lakh to 6.5 lakh and will compete with the likes of the new Hyundai Santro.
4 January 2019
 Audi may avoid huge grilles in future cars
One of the trademarks of Audi has been the ‘singleframe grille’ which is trapezoidal in shape. However,
the design team at Audi seem to be rethinking this design element. It could result in the grille being
removed altogether. The grilles could also be retained but with the frames painted in a different color to
make the grilles look either bigger or smaller. The border between the grille and frame could also be
melded together for a new look.
6 December 2018
 Freestyle Update for Ford Figo Sedan
The Ka Urban Warrior sedan concept based on the Ford Aspire has been revealed by Ford. The vehicle
is in the production-ready formal and is basically a stretched version of the Figo Aspire that is available to
customers in India. The family sedan concept has a few design changes similar to those on the Figo
Freestyle hatchback. The Ford Figo Urban Warrior Concept sedan has headlamps that feature black
accents, wheel boxes with black frames, as well as a grey grille in the front. The wheels are 15 inches
and feature a pearlescent grey finish. Some of the other design elements include a red colour scheme
with black accents. They height of the ride has increased and it also has faux skid plates at the front as
well as the rear end. No mention has been made of the price of the vehicle just yet, but the company has
confirmed that the sedan will be available for purchase in Brazil starting next year.
4 December 2018
 Suzuki Exits China Due to Rise in SUV Demand
Suzuki Motors have exited the Chinese market due to the shift in consumer buying preference from
hatchbacks to SUVs and sedans. The Japanese carmaker will transfer their 50% stake to Chongqing
Changan Automobile Co. once the legal proceedings have been completed.
Suzuki, however, still continues to be the most dominant in the Indian car market through their subsidiary,
Maruti Suzuki. The car makers plan to boost their sales to 5 million units per year by 2030.
7 September 2018
 A 10% Market Share Estimated by Volvo Car
The right arm of the Swedish motor company, Volvo Car India has been reported to have been aiming for
a 10% market share in the near future. Volvo Car India will evidently achieve this target by the year 2020.
The company has grown tremendously over the last few years having achieved a 28% growth in the year
2017 and 33% in the year 2018. The company’s public relations and corporate communications manager
said that Volvo Car India as an automobile organisation has shown drastic improvements and the
company is confident about profiting a 10% market share by the year 2020. The manager went on to
state that Volvo Car India currently holds presence in more than 21 cities, and it has been reported to
have more than 20 dealer partners and in the current scenario, it has more than 23 showrooms.
He also said that the company’s Kolkata dealer, that goes by the name Kolkata Sanwaria Automobile
Private Limited is presently taking care of the needs of people in the cities of Jamshedpur, Ranchi, and so
on. Volvo Car India has been focusing on bringing its presence to the smaller towns and cities of India.
1 August 2018
 'Circle Elite' scheme introduced by Mercedes-Benz for the Mercedes Owners
Mercedes-Benz has introduced its new 'Circle Elite' program as a special privilege for the Mercedes-Benz
owners. This special programme designed for the Mercedes owners gives them access to multiple
benefits and entitles them to a number of exclusive services. Fine dining experiences at discounts, getting
access to luxury properties in India, global travel assistance and medical assistance along with visa
acquisition advice and other customised services that are necessary while traveling are some of the
special benefits and privileges that the Mercedes owners get entitled to through this scheme. The benefits
of this programme also include purchase of luxury items, lifestyle products, and electronic goods at
selected stores. Moreover, owners who are like playing golf can get complimentary golf lessons as well.
The new owners of Mercedes who purchased their car in 2018 will automatically get enrolled to this
program, however, the older customers can get entitled to these services by calling the company
executives through a hotline number or through the official website.
30 July 2018
 Maruti Suzuki’s Car Sales up by over 30%
According to statistics for June 2018, Maruti Suzuki has recorded a 36.3% increase in car sales. The car
manufacturer sold over 1.44 lakh units in June. Domestic sales increased by 45.5% from June 2017 with
over 1.35 lakh units sold.
There was a 15.1% growth in the sale of mini segment cars which increased from 25,524 units in June
2017 to 29,381 units in June 2018. Sale of compact segment cars increased by 76.7% with 71,570 units
sold in June 2018 as compared to the 40,496 units sold in June 2017.
Midsize sedans recorded a 60% decrease in sales as compared to the number of units sold in June 2017.
Utility vehicles have also recorded an increase in sales by 39.2%.
Exports of Maruti Suzuki vehicles have dropped by 29% since the last year as compared to June 2017.
2 July 2018
 Porsche purchased 10% stake of Rimac Automobili and Croatian technology
Giving a major boost to the electric car industry, Porsche has purchased a 10% stake in Rimac Automobili
and Croatian technology. The deputy chairman of the executive board for finance and IT at Porsche, Lutz
Meschke, the approaches and ideas of Rimac being very promising they have entered into a
development partnership with the company to generate further prospects.
Porsche has laid its trust on the remarkable credentials of Rimac that it has shown in the electric mobility
sector by designing fully electric super-sports cars such as Concept One and C Two together with the
core vehicle systems. As a matter of fact, Rimac had displayed its latest version of the C Two, a two-
seater electric hypercar which can reach a peak speed of up to 256 miles per hour or around 400 km per
hour in the Geneva Motor Show in March 2018.
25 June 2018
 Discounts up to Rs.10 lakh on Select Audi Cars
Audi has announced that it would offer its customers attractive discounts on select cars. The discounts
would be applicable on the original price of A3, A6, and Q3 models, with discounts ranging from Rs.2.74
lakh to Rs.9.70 lakh.
Easy EMIs would be made available for those choosing to buy these models in 2018 and they can begin
paying the EMIs in 2019.
According to the Head of Audi India, Rahil Ansari, part of Audi’s strategy for 2018 is customer centricity.
He also stated that tax rates and high import charges should not be a reason why potential customers
choose not to make a purchase.
In addition to the discount offered on these models, Audi also plans to offer other sales and after sales
benefits. One of these benefits includes a 57% buyback assurance through the Audi Choice program.
29 May 2018
 Volkswagen aims to break the record for electric cars driving up Pikes Peak
Volkswagen has decided to take up the challenge to break the record for electric cars driving up the
famous Pikes Peak. The carmaker plans to use the I.D. R super sports car which has 2 electric engines
that produce 680 bhp power and 650 Nm torque. The sports car weighs 1,100 kg. The Pikes Peak hill
challenge will take place on 24 June 2018 at Colorado Springs in the United States. The I.D. R has a top
speed of 100 kmph in under 2.25 seconds. The power is stored in lithium-ion batteries. Therefore, in
order to recover energy, when the car brakes are applied, the electric engines will convert the braking
energy into electricity and feed it to the battery.
The I.D. R will have to climb 1,440 vertical metres above 2,862 metres, cruise 156 corners on asphalt
road of the peak in one attempt to break a record of 8:57.118 minutes. The external factors include the
weather and Pikes Peak is known to have weather below-freezing point temperature at the end of June.
26 April 2018
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Mumbai Nellore New
Delhi Noida Patna Pune Secunderabad Surat Thane Vadodara Visakhapatnam
By City
 Car Loan
"Excellent Service"
5.0/5 "Blown Away!"
It was quite a good experience i had with this Car loan and the process had been pretty simple. The loan amount
which they had provided was sufficient and the interest rate with them has been nominal as well. There has not been
any sort of extra charges which they had made as well.
Was this review helpful? Yes 0
RC , Hyderabad
Reviewed On Mar 12, 2019
 Car Loan
"Good service"
4.0/5 "Great!"
I have been holding my car loan with Axis bank for an while,They have given me good credit limit based on my
requirement , and the rate of interest they have charged me was nominal compare to the market value, even
processing fee which they have charged me was nominal,Still this loan is running.
OMKAR POL , Pune

 Car Loan
"good process "
4.0/5 "Great!"
I have taken a car loan in Axis Bank. The loan amount was Rs .5,86,000 , there is a no pr-Closure charges. Rate of
interested they charged 9%. Second time i have taken a top up loan amount of Rs. 8lakhs interest hey charged 13% .
All documents are collected door step service. Its very easy process for the documentation. Car loan rate of interest
is ok for me.interest 13%. All the documents are collected in door step . Car loan rate of interested is ok for me.
KUMAR SAR... , Bangalore

 Car Loan
"EXCELLENT"
5.0/5 "Blown Away!"
I have a goos experience with the AXIS BANK and i am using the car loan with this bank they have given the loan
within 4-5 days a;so the domination process was simple and easy. The rate of interest is above 9% which is lower
when compared to the others.
AJAY KUMA... , New Delhi

Reviewed On Feb 25, 2019
 Car Loan
"Good service"
5.0/5 "Blown Away!"
I have taken a car loan with AXIS BANK . The tenuity period is sufficient , my application was taken care by AXIS and
they processed it keeping my documents . Rate of interest if i see its reasonable compare to market value. I am
happy with Overall services.
SAURABH S... , New Delhi

 Car Loan
"Satisfactory"
4.0/5 "Great!"
The interest rate is reasonable in Axis Bank so have opted the car loan with them. I took the car loan before one year
back. They need to improve the customer service. There was no processing fee. I made some down payment and
bank has provided 80% funding. The loan duration is 5 years.
HARI PRAS... , Bangalore

 Car Loan
"Good car loan experience..."
5.0/5 "Blown Away!"
When i try to purchase a car, The axis bank guy approached me and i have accepted the loan from them. The
showroom has a tie up with this guy and he came up and processed all the procedure to get the loan. I have received
the loan in 4 days. I don't remember about the interest rate right now. Through ECS, i used to make the EMI.

SREEKIRAN ... , Hyderabad
 Car Loan
"Its Excellent"
5.0/5 "Blown Away!"
I bought Dustar car for the cost of Rs. 14 lakhs, however I approached the loan amount of Rs. 7 lakhs for the tenure
period of three years. I took the standard interest its good. The customer care is good they helped on the car loan
queries. Finally the loan got closed I got the NOC.
VENKATESWA... , Hyderabad
 Car Loan
"Best financial Service"
5.0/5 "Blown Away!"
Based on the good rate of interest i have chosen Axis bank for car loan . There is nominal charges for the processing
fees for approval and documentation. They instantly approved the loan in 2 days . I make the payments through Ecs
process . Overall am satisfied with service and response.
MARIYAPPAN... , Chennai
 Car Loan
"Good service"
4.0/5 "Great!"
I have been holding for car loan with Axis bank. Based on my requirement they have given me good loan amount, it
was sufficient for me, and the rate of interest they have charged me was nominal. they have charged me up to
10.25% that was nominal to me.and even they have charged me nominal processing fee.
YELETI SRI... , Hyderabad

 Car Loan
"Good service"
4.0/5 "Great!"
I had taken this Car loan from them a very long time back and the experience has been quite good. The loan amount
was sufficient but the interest rate has been high. Their customer support team has been quite helpful and their staffs
had been responsive as well and overall it was a good experience.
MUNUSWAMI ... , Chennai

 Car Loan
"Good Experience and sati..."
4.5/5 "Excellent!"
Recently I took Car loan from AXIS, they are very good in response and they are doing good job. I would say they
treating the customer in nice manner, the interest rate is very good compared to bank. I have purchased Maruthi
suzuki dezire its fine.

SWAMINI NA... , Hyderabad
 Car Loan
"Not satisfied"
2.0/5 "Expected more"
My car loan experience was not up to the mark with AXIS bank, i took a used car loan with nominal interest rate when
compared to other banks. Customer service was not good as they opened a savings account without my knowledge.
Tenure period for this loan is for 5 years.
RAJA RAM B... , Jodhpur

 Car Loan
"Excellent "
5.0/5 "Blown Away!"
The interest rate is quite nominal for the car loan with Axis Bank. It was taken 2 years back. The customer service is
very good. I have purchased a new car and made some down payment, they have given the required loan amount.
The loan tenure is 7 years.
SHEKHARKUM... , Ahmedabad
 Car Loan
"Very prompt and customer..."
5.0/5 "Blown Away!"
I have taken a car loan from Axis bank and the service has been very prompt. I have got the disbursal in 24 hours.
The documentation process was very nice, They have came to my office and collected all the documents in one shots
and they have informed the process also very clearly. As per the market rates, they are charging the interest rates
also.
DIBYENDU ... , Kolkata

 Car Loan
"Excellent"
4.5/5 "Excellent!"
I have taken a car loan in Axis Bank and the interest rate is so good. The customer service and response was
excellent. I took this loan by last year and the tenure is 7 years. There was no processing fee. I can do part payment
and foreclosure anytime. They have given 100% funding to buy a car.
THARUN UN... , Kochi

Reviewed On Jan 25, 2019
 Car Loan
"Its Good"
5.0/5 "Blown Away!"
To whom which I bought the car, the dealer got tie up with AXIS, I submitted the papers to them. The bank
sanctioned the car loan within 7 days of time. I got the better interest, they sanctioned the on road price Rs. 5.31
lakhs for the tenure of 7 years.
JEEVAN KU... , Chandigarh

 Car Loan
"Hassle free car loan"
4.0/5 "Great!"
They have nice app to check the outstanding balance and this is a user friendly app. They have sanctioned the loan
on time and the documentation process was very simple actually the dealer has taken care of everything. The
processing fee was very nominal and the interest rates very competitive.
NITIN SES... , Bangalore

 Car Loan
"Its Good"
4.0/5 "Great!"
I have closed AXIS car loan, the paper work was smooth at the time. I paid the all the emi and closed it. Finally I got
the NOC letter from the bank. They responded well at the time of taking loan however I approached the bank through
the dealer. Interest was almost same as other bank for my first car it was Hyundai I10.
CHANDURI V... , Secunderabad

 Car Loan
"Satisfactory"
4.0/5 "Great!"
For my Mahindra verito car, AXIS bank sanctioned the loan which I was required for the purchased and they gave me
the flexible emi as per my preference. I got the NOC letter from the bank for the car loan. I have taken two car loans
from the same bank.
CHANDURI V... , Secunderabad

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Bank Maharashtra Car Loan Interest Rate

Bank Maharashtra Car Loan Interest Rate Mar 2019
Bank of Maharashtra New Car Loan interest rate starts from 9.25% and Bank of Maharashtra Used Car
Loan interest rates starts from 9.40% . These are Floating rate loans and are one of the best car loan rates
in India. Rate of interest vary by borrower occupation, loan amount and loan tenure.
Bank Maharashtra Car Loan
Processing Fee 0.25% Min Rs. 1,000 0.25% Min Rs.

Max Rs. 15,000 500
Lowest EMI Rs. 1,622 per lakh Rs. 2,088 per

lakh
Loan Amount Upto 85% of on- Upto 50% of

road price market value
Prepayment Not Available Not Available

Charges
Quick disbursal of loan

Personal Loan
@ 10.75%*
Home Loan
@ 8.65%*
Gold Loan
@ 10.50%*
Business Loan
@ 13.50%*
@ 8.80%*
Credit
Card
Do More

 Calculate Bank of Maharashtra EMI
 Check Bank of Maharashtra Eligibility
Bank Maharashtra Car Loan
Bank of Maharashtra gives car loan to borrowers who need funds to buy a new car. Benefits of taking vehicle
loan from Bank of Maharashtra are:
 Quick disbursal of loan
 Competitive interest rates
 Customer-friendly policies
Bank of Maharashtra Car Loan Interest Rate

Bank Maharashtra Car Loan interest rate depends upon following factors -
 Loan amount: Generally banks offer lower interest rates for higher amount. Bank of Maharashtra offers
85% of on-road price of your car.
rate Bank Maharashtra varies with your net monthly income.
his/her rate of interest. Bank of Maharashtra has a list of company categories of salaried individuals to which
they avail vehicle loan. So, higher company category leads to low Bank Maharashtra car loan rate.
 Relationship with the Bank: Bank of Maharashtra offers special rates, offers and charges to the existing
account holders of the bank. Those who have managed their accounts and made all the payments on time in
past will get benefit of low vehicle loan interest rate.
 Loan Tenure: Bank of Maharashtra vehicle loans are of longer repayment tenure of 7 years.
 Repayment Capacity: Before giving loan to the borrower, Bank of Maharashtra checks the repayment
capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all
the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills
payment.
Bank Maharashtra Car Loan Eligibility

Minimum Annual Salaried: Rs. 4.00 Lakhs

Income Self Employed Professionals: Rs.
4.00 Lakhs
Self Employed Businessmen: Rs.
4.00 Lakhs
Minimum Credit 700 and above

Score
Loan Tenure 7 years
Age: Age plays an important role to know your eligibility and repayment capacity. Bank of Maharashtra offers
auto loan to those who are atleast 18 years old at the time of loan approval and maximum 60 years at the time
of loan maturity.
Income: Bank of Maharashtra car loan calculator calculates your eligibility based upon your income. Usually
bank set minimum levels of income to apply for car loan. Bank of Maharashtra asks for net annual income of
minimum Rs. 4.00 lakhs.
from Bank of Maharashtra. If you are working with a reputed company, probability of getting car loan
increases as the income is considered to be more stable and bank offers best Bank Maharashtra car loan
interest to the employees of reputed companies.
impact on your Bank of Maharashtra car loan eligibility. If you have a poor repayment record, then you may
not get the loan but on the other side, a regular repayment record increases your vehicle loan eligibility.
Generally, Bank give loan at a CIBIL score of 700 and above.
Loan Amount: Bank Maharashtra auto loan amount depends upon your income. Bank of Maharashtra Bank
gives 100% of ex-showroom price depending upon the value of the car. To improve chances of approval, apply
for a loan amount that you can comfortably service and check your Bank Maharashtra car loan status online
and avial multiple benefits.
Bank Maharashtra Car Loan Calculator

Car Loan EMI of Bank of Maharashtra is a fixed amount that you pay each month towards the repayment of
your car loan till the end of tenure. Lowest EMI offered by Bank of Maharashtra is Rs. 1,622 per lakh loan
amount at lowest car loan interest rate of 9.25%. Car Loan EMI of Bank of Maharashtra depends on factors
like:
EMI.
a high loan amount.
Bank Maharashtra EMI Car Loan Calculator
Illustration
E= P. r. (1+r)n/[(1+r) n -1]
Where,
Bank Maharashtra Auto Loan Fee and Charges
the end of tenure period. Bank of Maharashtra allows prepayment of vehicle loan after paying 1 EMI with
prepayment .
Processing Fee - Bank of Maharashtra asks for a processing fee of 0.25% of loan amount. Min. Rs. 1000and
Max. Rs.15,000 with applicable service tax.
Bank of Maharashtra Car Loan Top up, Balance Transfer

 Bank of Maharashtra offers car loan balance transfer from another bank. This is subject to your meeting
other eligibility criteria
 You can avail additional top-up car loan from Bank of Maharashtra, subject to your eligibility
Documents required
Salaried Employees
Passport
and any EMI debit
Self-Employed

Passport
and any EMI debit
Frequently Asked Questions on Bank Maharashtra Car Loan
What is car loan interest rate offered by Bank Maharashtra ?
As per current interest rates, Bank Maharashtra car loan interest rates are in the range of 9.25 % .
What is the lowest EMI per lakh on Bank of Maharashtra car loan?
Lowest EMI per lakh is Rs. 1,622 for Bank of Maharashtra for a loan availed at an interest rate of 9.25% and
for a tenure of 7 years.
What is the maximum tenure of Bank of Maharashtra car loan?
You can repay your Bank of Maharashtra car loan in a flexible period of 7 years.
How much car loan I can borrow from Bank of Maharashtra?
Bank of Maharashtra offers you 85% of on-road price of car as loan.

How much processing fee is charged by Bank of Maharashtra on car loan?
Bank of Maharashtra charges a processing fee of 0.25% of loan amountMin. Rs. 1,000 and Max. Rs. 15,000
with applicable service tax.
Is age an eligibility factor to get car loan from Bank of Maharashtra?
Yes, age is an important eligibility factor to get Bank of Maharashtra car loan as you should be at least 18
years old at loan approval time and 60 years old at loan maturity time.
Are there any prepayment charges on Bank Maharashtra car loan?
You can take car loan from Bank of Maharashtra with prepayment .
Can I add my spouse's income while applying for car loan from Bank of Maharashtra ?
higher loan amount.
Compare Car Loan Interest Rates of Bank of Maharashtra with other banks
 HDFC Bank
 SBI
 ICICI Bank
 Axis Bank
 IndusInd Bank
 Kotak Bank
 PNB
 Andhra Bank
 IDBI Bank
 Federal Bank
 Bank of India
 Indian Bank
 Bank of Baroda
 OBC
Select First Bank
Select Second Bank
Select Third Bank
COMPARE NOW
Related Topics

Latest Blogs
Bank Maharashtra Car Loan News - Mar 2019
 2017-09-04 : Bank of Maharashtra waives processing fee on home and vehicle loans
Bank of Maharashtra has completely waived off processing fees on its home loans and vehicle loans. Meanwhile,
the bank also claims to offer zero processing fees when someone transfers a home loan from another bank
during this festive offer period. The offer is available only to the bank customers till December, 2017.
to them.
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Bank of India Car Loan Interest Rate

Bank of India Car Loan Interest Rate Mar 2019
Bank of India New Car Loan interest rate starts from 9.50% and Bank of India Used Car Loan interest
rates starts from 8.90% . These are Floating rate loans and are one of the best car loan rates in India. Rate
of interest vary by borrower occupation, loan amount and loan tenure.
Bank of India Car Loan
Processing Fee 1.00% Min Rs. 1.00% Min Rs. 500

500 Max Rs. 10,000
Lowest EMI Rs. 1,634 per Rs. 3,203 per lakh

lakh
Loan Amount Upto 85% of Upto 70% of
on-road price market value
Prepayment Nil Nil

Charges
PAN India presence
Personal Loan
@ 10.75%*
Home Loan
@ 8.65%*
Gold Loan
@ 10.50%*
Business Loan
@ 13.50%*

@ 8.80%*
Credit
Card
Do More

 Calculate Bank of India EMI
 Check Bank of India Eligibility
Bank of India Car Loan
Bank of India gives car loan to borrowers who need funds to buy a new car. Benefits of taking vehicle loan
from Bank of India are:
 PAN India presence
 Reasonably low interest rates
 Quick and easy processing
Bank of India Car Loan Interest Rate

Bank of India Car Loan interest rate depends upon following factors -
 Loan amount: Generally banks offer lower interest rates for higher amount. Bank of India offers 85% of on-
road price of your car.
rate Bank of India varies with your net monthly income.
his/her rate of interest. Bank of India has a list of company categories of salaried individuals to which they
avail vehicle loan. So, higher company category leads to low Bank of India car loan rate.
 Relationship with the Bank: Bank of India offers special rates, offers and charges to the existing account
holders of the bank. Those who have managed their accounts and made all the payments on time in past will
get benefit of low vehicle loan interest rate.
 Loan Tenure: Bank of India vehicle loans are of longer repayment tenure of 7 years.
 Repayment Capacity: Before giving loan to the borrower, Bank of India checks the repayment capacity of
the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of
previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.
Bank of India Car Loan Eligibility

Minimum Annual Income
Minimum Credit Score 700 and above
Loan Tenure 7 years
Age: Age plays an important role to know your eligibility and repayment capacity. Bank of India offers auto
loan to those who are atleast 18 years old at the time of loan approval and maximum 65 years at the time of
loan maturity.
Income: Bank of India car loan calculator calculates your eligibility based upon your income. Usually bank
set minimum levels of income to apply for car loan.
from Bank of India. If you are working with a reputed company, probability of getting car loan increases as
the income is considered to be more stable and bank offers best Bank of India car loan interest to the
employees of reputed companies.
impact on your Bank of India car loan eligibility. If you have a poor repayment record, then you may not get
the loan but on the other side, a regular repayment record increases your vehicle loan eligibility. Generally,
Bank give loan at a CIBIL score of 700 and above.
Loan Amount: Bank of India auto loan amount depends upon your income. Bank of India Bank gives 100%
of ex-showroom price depending upon the value of the car. To improve chances of approval, apply for a loan
amount that you can comfortably service and check your Bank of India car loan status online and avial
multiple benefits.
Bank of India Car Loan Calculator

Car Loan EMI of Bank of India is a fixed amount that you pay each month towards the repayment of your car
loan till the end of tenure. Lowest EMI offered by Bank of India is Rs. 1,634 per lakh loan amount at lowest
car loan interest rate of 9.25%. Car Loan EMI of Bank of India depends on factors like:
EMI.
a high loan amount.
Bank of India EMI Car Loan Calculator
Illustration
E= P. r. (1+r)n/[(1+r) n -1]
Where,
Bank of India Auto Loan Fee and Charges
the end of tenure period. Bank of India allows prepayment of vehicle loan after paying 1 EMI with prepayment
Nil.
Processing Fee - Bank of India asks for a processing fee of 1.00% of loan amount. Min. Rs. 500and Max. Rs.0
Bank of India Car Loan Top up, Balance Transfer

 Bank of India offers car loan balance transfer from another bank. This is subject to your meeting other
eligibility criteria
 You can avail additional top-up car loan from Bank of India, subject to your eligibility
Documents required
Salaried Employees
Passport
and any EMI debit
Self-Employed
Passport
and any EMI debit
Frequently Asked Questions on Bank of India Car Loan
What is car loan interest rate offered by Bank of India ?
As per current interest rates, Bank of India car loan interest rates are in the range of 9.50 % .
What is the lowest EMI per lakh on Bank of India car loan?
Lowest EMI per lakh is Rs. 1,634 for Bank of India for a loan availed at an interest rate of 9.50% and for a
tenure of 7 years.
What is the maximum tenure of Bank of India car loan?
You can repay your Bank of India car loan in a flexible period of 7 years.
How much car loan I can borrow from Bank of India?
Bank of India offers you 85% of on-road price of car as loan.

How much processing fee is charged by Bank of India on car loan?
Bank of India charges a processing fee of 1.00% of loan amountMin. Rs. 500 and Max. Rs. 0 with applicable
service tax.
Is age an eligibility factor to get car loan from Bank of India?
Yes, age is an important eligibility factor to get Bank of India car loan as you should be at least 18 years old at
loan approval time and 65 years old at loan maturity time.
Are there any prepayment charges on Bank of India car loan?
You can take car loan from Bank of India with prepayment nil.
Can I add my spouse's income while applying for car loan from Bank of India ?
higher loan amount.
Compare Car Loan Interest Rates of Bank of India with other banks
 HDFC Bank
 SBI
 ICICI Bank
 Axis Bank
 IndusInd Bank
 Kotak Bank
 PNB
 Andhra Bank
 IDBI Bank
 Federal Bank
 Bank of India
 Indian Bank
 Bank of Baroda
 OBC
Select First Bank
Select Second Bank
Select Third Bank
COMPARE NOW
Related Topics

Latest Blogs
Bank of India Car Loan News - Mar 2019
 2017-01-09 : Bank of India reduces car loan rate by 70 basis points
Bank of India has reduced its car loan interest rate to 9.35 percent for new car buyers as compared to 10.05
percent earlier. The rate is effective from 7th January, 2017.
to them.
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Central Bank Car Loan Interest Rate

Central Bank Car Loan Interest Rate Mar 2019
Central Bank of India New Car Loan interest rate starts from 9.00% and Central Bank of India Used Car
Loan interest rates starts from 9.95% . These are Floating rate loans and are one of the best car loan rates
in India. Rate of interest vary by borrower occupation, loan amount and loan tenure.
Central Bank Car Loan
Processing 0.50% Min Rs. 0.50% Min Rs.

Fee 2,000 Max Rs. 2,000 Max Rs.
20,000 20,000
Lowest EMI Rs. 1,609 per lakh Rs. 2,076 per lakh
Loan Amount Upto 90% of on- Upto 75% of
road price market value
Prepayment Nil from own Nil from own

Charges sources; 1% in sources; 1% in
case of loan case of loan
takeover takeover
Quick and easy processing
Personal Loan
@ 10.75%*
Home Loan
@ 8.65%*
Gold Loan
@ 10.50%*
Business Loan
@ 13.50%*

@ 8.80%*
Credit
Card
Do More

 Calculate Central Bank of India EMI
 Check Central Bank of India Eligibility
Central Bank Car Loan
Central Bank of India gives car loan to borrowers who need funds to buy a new car. Benefits of taking vehicle
loan from Central Bank of India are:
 Quick and easy processing
 Low interest rates
Central Bank of India Car Loan Interest Rate
Central Bank Car Loan interest rate depends upon following factors -
 Loan amount: Generally banks offer lower interest rates for higher amount. Central Bank of India offers
90% of on-road price of your car.
rate Central Bank varies with your net monthly income.
his/her rate of interest. Central Bank of India has a list of company categories of salaried individuals to which
they avail vehicle loan. So, higher company category leads to low Central Bank car loan rate.
 Relationship with the Bank: Central Bank of India offers special rates, offers and charges to the existing
account holders of the bank. Those who have managed their accounts and made all the payments on time in
past will get benefit of low vehicle loan interest rate.
 Loan Tenure: Central Bank of India vehicle loans are of longer repayment tenure of 7 years.
 Repayment Capacity: Before giving loan to the borrower, Central Bank of India checks the repayment
capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all
the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills
payment.
Central Bank Car Loan Eligibility

Minimum Annual Salaried: Rs. 1.80 Lakhs

Income Self Employed Professionals: Rs.
1.80 Lakhs
Self Employed Businessmen: Rs.
1.80 Lakhs
Minimum Credit 700 and above

Score
Loan Tenure 7 years
Age: Age plays an important role to know your eligibility and repayment capacity. Central Bank of India offers
auto loan to those who are atleast 18 years old at the time of loan approval and maximum 65 years at the time
of loan maturity.
Income: Central Bank of India car loan calculator calculates your eligibility based upon your income. Usually
bank set minimum levels of income to apply for car loan. Central Bank of India asks for net annual income of
minimum Rs. 1.80 lakhs.
from Central Bank of India. If you are working with a reputed company, probability of getting car loan
increases as the income is considered to be more stable and bank offers best Central Bank car loan interest
to the employees of reputed companies.
impact on your Central Bank of India car loan eligibility. If you have a poor repayment record, then you may
not get the loan but on the other side, a regular repayment record increases your vehicle loan eligibility.
Generally, Bank give loan at a CIBIL score of 700 and above.
Loan Amount: Central Bank auto loan amount depends upon your income. Central Bank of India Bank gives
100% of ex-showroom price depending upon the value of the car. To improve chances of approval, apply for
a loan amount that you can comfortably service and check your Central Bank car loan status online and avial
multiple benefits.
Central Bank Car Loan Calculator

Car Loan EMI of Central Bank of India is a fixed amount that you pay each month towards the repayment of
your car loan till the end of tenure. Lowest EMI offered by Central Bank of India is Rs. 1,609 per lakh loan
amount at lowest car loan interest rate of 9.25%. Car Loan EMI of Central Bank of India depends on factors
like:
EMI.
a high loan amount.
Central Bank EMI Car Loan Calculator
Illustration
E= P. r. (1+r)n/[(1+r) n -1]
Where,
Central Bank Auto Loan Fee and Charges
the end of tenure period. Central Bank of India allows prepayment of vehicle loan after paying 1 EMI with
prepayment Nil from own sources; 1% in case of loan takeover.
Processing Fee - Central Bank of India asks for a processing fee of 0.50% of loan amount. Min. Rs. 2000and
Max. Rs.20,000 with applicable service tax.
Central Bank of India Car Loan Top up, Balance Transfer

 Central Bank of India offers car loan balance transfer from another bank. This is subject to your meeting
other eligibility criteria
 You can avail additional top-up car loan from Central Bank of India, subject to your eligibility
Documents required
Salaried Employees
Passport
and any EMI debit
Self-Employed
Passport
and any EMI debit
Frequently Asked Questions on Central Bank Car Loan
What is car loan interest rate offered by Central Bank ?
As per current interest rates, Central Bank car loan interest rates are in the range of 9.00 % .
What is the lowest EMI per lakh on Central Bank of India car loan?
Lowest EMI per lakh is Rs. 1,609 for Central Bank of India for a loan availed at an interest rate of 9.00% and
for a tenure of 7 years.
What is the maximum tenure of Central Bank of India car loan?
You can repay your Central Bank of India car loan in a flexible period of 7 years.
How much car loan I can borrow from Central Bank of India?
Central Bank of India offers you 90% of on-road price of car as loan.
How much processing fee is charged by Central Bank of India on car loan?
Central Bank of India charges a processing fee of 0.50% of loan amountMin. Rs. 2,000 and Max. Rs. 20,000
Is age an eligibility factor to get car loan from Central Bank of India?
Yes, age is an important eligibility factor to get Central Bank of India car loan as you should be at least 18
years old at loan approval time and 65 years old at loan maturity time.
Are there any prepayment charges on Central Bank car loan?
You can take car loan from Central Bank of India with prepayment nil from own sources; 1% in case of loan
takeover.
Can I add my spouse's income while applying for car loan from Central Bank of India ?
higher loan amount.
Compare Car Loan Interest Rates of Central Bank of India with other banks
 HDFC Bank
 SBI
 ICICI Bank
 Axis Bank
 IndusInd Bank
 Kotak Bank
 PNB
 Andhra Bank
 IDBI Bank
 Federal Bank
 Bank of India
 Indian Bank
 Bank of Baroda
 OBC
Select First Bank
Select Second Bank
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OverviewAxis BankxBank of BarodaxBank of IndiaxLowest Interest
Rate9.25%Details 8.90%Details 9.50%Details Loan Tenure8 years7 years7 yearsCar Loan
ChargesProcessing FeeNil0.75%1.00%Foreclosure Charges5% of outstanding principalNilNil
Eligibility
Calculate EMI
Average credit score and debt by age range
Average Average
Average Average
Age Credit Student
Credit Mortgage
Range Card Loan
Score Deb
Debt Debt
18 - 635 $1,750 $12,425 $15,650

20
Average Average
Average Average
Age Credit Student
Credit Mortgage
Range Card Loan
Score Deb
Debt Debt
21 - 638 $2,500 $35,000 $75,000

34
35 - 658 $3,100 $21,500 $93,700

49
50 - 703 $2,100 $9,500 $125,000

69
70+ 729 $2,500 $5,000 $34,500
Source: We surveyed 2,500 people in the United States on 9/2/2018.
As you can see from the chart above, different types of debt peak at different
stages in life. Average student loan debt is highest for those just out of college
and entering the workforce. Credit card debt is highest for those between the
ages of 35-49. Mortgage debt peaks for those 50-69, at a stage where they
may be having just bought a smaller home after the children become adults,
or buying a retirement property. Different stages of life bring about different
needs.
Comparing Different Credit Score Formulas (Credit Bureaus)

Credit
Factors,
Credit Experian TransUnion Equifax
Score
Weight
Payment 35% 40% 35%

History
Credit 30% 20% 30%

Utilization
Credit
Factors,
Credit Experian TransUnion Equifax
Score
Weight
Credit Age 15% 21% 15%
Different 10% 11% 10%

Types of
Credit
Number of 10% 5% 10%

Inquiries
Source: Data found October 10, 2018.

https://www.transunion.com/credit-score,
https://money.howstuffworks.com/personal-finance/debt-management/credit-
score1.htm
There are three credit bureaus that all have slightly different methods in
creating credit score. FICO, the long standing creator of credit scores uses the
following breakdown. While the others are slightly different, they all take into
account similar factors, just with varying weights. It is important to understand
what each factor means and how they interconnect to help you achieve your
goal of an improved credit score.
FICO scoring model calculation (weight) factors

Credit Score
Credit Factors
Weight
Payment History 35%
Credit Utilization 30%
Credit Age 15%
Different Types of 10%

Credit
Number of Inquiries 10%
Source: https://www.myfico.com/credit-education/whats-in-your-credit-score
Make Payments on time, every month
Creditors report your activity to credit bureaus, which means that if you make
a late payment, that will appear on your credit report. While it doesn’t seem
like one late payment would make that much of a difference, it can, and does.
Late Payment Delay & Credit Score Drop
Average Credit
Average
Late Score
Credit Score
Payment Recovery
Drop
(Days) (TransUnion)
(TransUnion)
in 6 Months
30 Days 25 Points 85 Points

Average Credit
Average
Late Score
Credit Score
Payment Recovery
Drop
(Days) (TransUnion)
(TransUnion)
in 6 Months
Charge 150 Points 20 Points

Off
Source: We tracked a group of 500 members targeting those who have missed payments on
their loans for different amounts of time and how much their credit score dropped during those
time frames.
As you can see from the chart above, being late just 30 days can result in a
25 point drop to your credit score. The longer you are late, the lower your
credit score will drop. All is not lost however, because once you get back on a
good schedule of making payments, your credit score can rebound,
sometimes more than the initial drop.
Check your free credit score today in just 2

minutes.
Learn different techniques around building

credit and what it can do for you.
The bank was founded by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III on 20 July 1908.
The bank, along with 13 other major commercial banks of India, was nationalised on 19 July 1969,
by the Government of India and has been designated as a profit-making public sector undertaking
(PSU).

Bank of Baroda (BOB) Car Loan Interest Rates 2019: Sona Copy Here

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Bank of Baroda (BOB) Car Loan Interest Rates 2019: Sona Copy Here

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Sona copy here The Journey of Milind M Kulkarni & Associates started in 1986-87 as a

proprietorship which has gradually grown to a firm of Chartered Accountants with a

Bank of Baroda (BOB) Car Loan Interest

Base Rate 8.60% to 10.35%

Rate of Interest B.R + 0.25%

Loan Tenure A maximum of 7 years

A maximum of Rs. 100

15%-20% on the road price

How to calculate Interest rate on my Bank of Baroda Car

Documentation needed to apply for an Bank of Baroda Car

 2. Signed application form with photograph

 4. Last 6 months' bank statement

 5. Documentation for salaried applicants:

o Last 3 months' salary slips

 6. Documentation for self-employed applicants:

o Last 3 years' Income Tax Returns with computation of Income

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Bank of Baroda Car Loan Interest RatesUpdated on 15 Mar 2019

Interest Rate 8.60% to 10.35%

Loan Tenure 7 years

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Bank of Baroda Overview

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Bank of Baroda Car Loan Interest Rate

Bank of Baroda Car Loan Interest Rate Mar 2019

Bank of Baroda Car Loan

Features New Car Loan Used Car Loan

Processing Fee 0.75% Max Rs. 0.75% Max Rs.

Loan Tenure Upto 7 years Upto 3 years

Loan Amount Upto 85% of on- Upto 80%

Prepayment Nil Nil

High Loan amount of up to Rs. 1 crore across categories

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Loan Against Property

 SBI Car Loan Rate

Bank of Baroda Car Loan Interest Rate

Bank of Baroda Car Loan Eligibility

Eligibility Criteria Eligibility Details

Age 21 years - 65 years

Minimum Annual Income

Minimum Credit Score 700 and above

Loan Tenure 7 years

Loan to Value Ratio 85% of on-road price

Bank of Baroda Car Loan Calculator

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Bank of Baroda Auto Loan Fee and Charges

Bank of Baroda Car Loan Top up, Balance Transfer

Bank of Baroda offers you 85% of on-road price of car as loan.

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