Bank of Baroda Car Loan 2025 offers up to 100% financing, lower interest rates, and exclusive offers on electric vehicles. Learn about eligibility, repayment terms, documents, and expert tips to get approved.
If you’re planning to buy a new car in 2025, including an electric vehicle (EV), Bank of Baroda Car Loan 2025 can help you secure fast, affordable financing. With attractive interest rates, flexible tenures, and up to 100% funding for eligible borrowers, BoB makes vehicle ownership easy—whether it’s a hatchback, sedan, SUV, or an EV.
In this guide, we’ll explore every aspect of the car loan process—from updated rate charts and EV offers to eligibility, documentation, EMI calculations, and how to apply online or offline. You’ll also find important FAQs, RBI norms, and smart tips to avoid loan rejection.
Key Features of Bank of Baroda Car Loan 2025
| Feature | Description |
|---|---|
| Loan Amount | ₹1 lakh to ₹100 lakh |
| Interest Rate | Starting from 8.70% p.a. |
| Tenure | 12 to 84 months |
| Margin | Up to 100% financing |
| Processing Charges | 0.25% – 1% of loan amount |
| Prepayment Charges | Nil on floating rate loans |
| Vehicle Coverage | Petrol, Diesel, CNG, Electric, Hybrid |
| Application Mode | Online, Branch Visit, Dealer Tie-ups |
BoB’s 2025 car loan product is designed to support both traditional fuel buyers and the growing electric vehicle market.
Benefits of Bank of Baroda Car Loan 2025
100% Funding: No down payment required for eligible applicants
EV Focus: Special interest rates for electric cars
Quick Approval: Sanction within 48–72 hours
Women Benefit: 0.05% interest concession for female borrowers
Digital Process: Apply and upload documents online
NRI Eligible: Car loans available for NRIs with Indian co-borrowers
Bank of Baroda Car Loan Interest Rates 2025
| Borrower Type | Rate (p.a.) |
|---|---|
| Salaried (CIBIL >750) | 8.70% – 9.25% |
| Salaried (CIBIL <750) | 9.30% – 10.50% |
| Self-Employed | 9.00% – 10.75% |
| Electric Vehicle Loan | 8.50% – 9.25% |
| Used Car Loan | 10.25% – 12.50% |
| Women Borrowers | 0.05% lower than standard rates |
Interest is linked to the Bank of Baroda BRLLR (Repo Linked Lending Rate) and may change as per RBI guidelines.
Types of Car Loans Offered by BoB in 2025
New Car Loan – For any brand-new passenger vehicle.
Used Car Loan – Up to 75% of the car’s value.
Electric Car Loan – Specialized EV financing with discounts.
Car Loan for NRIs – Available with Indian co-applicant.
Top-up Car Loan – Additional funds over existing loan.
Car Loan for Fleet Owners – Under MSME scheme for commercial use.
Loan Amount & Repayment Terms
| Vehicle Type | Max Loan | Margin | Max Tenure |
|---|---|---|---|
| New Car | Up to 100% | 0% | 7 years |
| EV Car | 100% + Accessories | 0% | 7 years |
| Used Car | Up to 75% of value | 25% | 5 years |
| NRI Loan | Up to ₹30 lakh | 10%+ | 5 years |
Tip: BoB offers better interest and faster disbursal to its salary account holders.
Eligibility Criteria for Bank of Baroda Car Loan 2025
| Criteria | Requirement |
|---|---|
| Age | 21–70 years at loan maturity |
| Monthly Income | ₹20,000+ (₹2 lakh+ annual for self-employed) |
| Credit Score | 700+ preferred |
| Employment | Salaried or Self-employed (3+ years) |
| Co-applicant | Optional (advisable for better approval odds) |
| Residency | Indian residents and NRIs (with resident co-borrower) |
Documents Required
KYC Documents:
PAN Card
Aadhaar / Passport / Voter ID
Passport-size photographs
Income Documents:
For Salaried:
Last 3 months’ salary slips
Last 6 months’ bank statements
Form 16 or latest ITR
For Self-employed:
2 years ITR with computation
Business registration proof
CA-audited P&L & balance sheet
Vehicle Documents:
Proforma invoice from dealership
Insurance & Registration details (for used cars)
EV Loans Under Bank of Baroda Car Loan 2025
BoB has introduced a special financing scheme for electric vehicles under its Green Vehicle Loan Program.
Features:
Up to 100% financing on EV + charger
Interest rate starting at 8.50% p.a.
Tenure up to 7 years
Finance includes insurance, accessories, battery pack
Eligible EV Models:
Tata Nexon EV
Mahindra XUV400
MG ZS EV
Hyundai Kona
BYD e6 & Atto 3
Subsidy from FAME II or state schemes can further reduce cost. Check with your dealer.
EMI Calculation for Bank of Baroda Car Loan 2025
Example: ₹10 lakh loan at 9.25% for 5 years (60 months)
EMI = ₹20,902/month
Total Payable = ₹12.54 lakh
Interest = ₹2.54 lakh
Use BoB’s EMI Calculator to get exact monthly figures.
How to Apply for Bank of Baroda Car Loan 2025 Online
Click “Apply Now”
Fill in name, PAN, loan amount, employment type
Upload KYC & income documents
Get instant approval confirmation
Digital agreement & e-sign
Disbursal in 48–72 hours (direct to dealer or account)
Car Loan Through Dealership (Offline)
BoB has official tie-ups with:
Maruti Suzuki
Hyundai
Tata Motors
Mahindra
Toyota
Kia Motors
Visit dealership → Submit documents → BoB approves → Loan disbursed → Drive your car
Prepayment, Charges & Offers
| Charge | Amount |
|---|---|
| Processing Fee | 0.25% – 1% of loan |
| Prepayment (Floating) | NIL |
| Penal Interest | 2% per month on overdue |
| Documentation Charges | Nominal (waived during offers) |
Special Offers:
No processing fee during Diwali & Banking Week
Extra 0.10% discount for existing BoB account holders
Tips to Get Easy Approval
Maintain credit score above 750
Prefer shorter tenure loans (≤5 years)
Choose car model with high resale value
Apply jointly with a co-applicant
Route salary through BoB account for faster approval
Avoid applying with multiple banks simultaneously
FAQs – Bank of Baroda Car Loan 2025
Q1. What is the interest rate on BoB car loan for salaried professionals?
Starts from 8.70% p.a. for applicants with CIBIL score of 750+.
Q2. Can I get a car loan without down payment?
Yes. BoB offers 100% funding on new and EV vehicles to eligible customers.
Q3. Are electric cars eligible under BoB car loans?
Yes. EVs get dedicated interest discounts and 100% finance including chargers.
Q4. What’s the minimum income required?
₹20,000 per month for salaried, ₹2 lakh annual income for self-employed.
Q5. Can NRIs apply for Bank of Baroda Car Loan 2025?
Yes, with a co-applicant residing in India and valid income documentation.
Q6. Is prepayment allowed on BoB car loans?
Yes, there are no prepayment charges for floating rate loans.
Q7. What’s the maximum tenure I can choose?
Up to 7 years (84 months) for new and EV cars; 5 years for used cars.
Q8. Can I finance accessories with the car?
Yes, BoB includes accessories, insurance, and extended warranty in the total loan.
Q9. How much processing fee is charged?
Generally 0.25%–1%, but may be waived during festive offers.
Q10. Where can I track my car loan application status?
Via BoB Loan Tracker, Mobile Banking App, or by calling customer service.
Important Links
| Bank of Baroda officials website | click here |
| home page | click here |
| Join WhatsApp group | join here |
Authoritative External Links
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Conclusion
Bank of Baroda Car Loan 2025 is an excellent choice for buyers seeking flexible financing, competitive rates, and full coverage for both traditional and electric vehicles. With up to 100% funding, quick disbursal, and exclusive benefits for women and EV buyers, BoB makes car ownership easier and more affordable. Whether you’re a salaried professional, self-employed, or an NRI, choosing BoB ensures transparent terms, policy-compliant processing, and long-term savings. For smart, future-ready car financing in 2025, Bank of Baroda remains a top lender to trust.