Bank of Baroda Car Loan 2026
Bank of Baroda offers repo-linked floating and fixed car loans with credit-score-based pricing and a fully digital option. Interest rate 7.60% – 11.30%, loan Up to 90% of on-road price (bob Digital Car Loan up to 93%), tenure Up to 84 months (7 years).
Rates as of Sep 2026 (official page, undated) · Checked 30 September 2026Bank of Baroda Car Loan at a glance
- Floating rates from 7.60%
- Flat processing fee; only ₹500 for government / PSU staff
- 0.25% off for home-loan customers
- Minimum CIBIL 701
- Rate 0.05% higher without credit life insurance
Bank of Baroda car loan interest rate & charges
| Feature | Bank of Baroda |
|---|---|
| Interest rate | 7.60% – 11.30% |
| Rate details | Floating from BRLLR − 0.30% (7.60%) to BRLLR + spread + 3.15% (11.30%); fixed 8.50% – 11.20%. Add 0.05% if you do not take Group Credit Life Insurance. Minimum CIBIL 701. |
| Processing fee | Up to ₹10 lakh: ₹1,500 + GST; above ₹10 lakh: ₹2,000 + GST; ₹500 + GST for government / PSU employees |
| Loan amount | Up to 90% of on-road price (bob Digital Car Loan up to 93%) |
| Tenure | Up to 84 months (7 years) |
| Prepayment / foreclosure | Floating: nil. Fixed: free up to ₹40,000 within 2 years, 2% + GST above that within 2 years, nil after 2 years |
| Minimum credit score | CIBIL 701+ |
| Rate options | Floating (BRLLR) or fixed |
Special schemes & features
0.25% rate concession for existing Bank of Baroda home-loan borrowers
0.05% lower rate if you opt for GCLI
Online journey with up to 93% funding
Source: bankofbaroda.bank.in, Sep 2026 (official page, undated). Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at Bank of Baroda’s rates
| Loan amount | EMI @ 7.60% | EMI @ 9.45% | EMI @ 11.30% |
|---|---|---|---|
| ₹5,00,000 | ₹10,043 | ₹10,489 | ₹10,946 |
| ₹8,00,000 | ₹16,068 | ₹16,782 | ₹17,514 |
| ₹12,00,000 | ₹24,103 | ₹25,173 | ₹26,271 |
Tenure 5 years, reducing-balance method. Total interest on ₹8,00,000 at 7.60%: ₹1,64,104.
Bank of Baroda car loan EMI calculator
Eligibility
- Salaried, self-employed, professionals, business persons and farmers
- CIBIL score of 701 or above
- Income as per bank norms
Documents required
- Application form with photographs
- KYC: PAN (mandatory) and Aadhaar / passport / voter ID / driving licence
- Income proof — salaried: last 3 salary slips and Form 16; self-employed: 2 years’ ITR with computation, P&L and balance sheet
- Bank statements for the last 6 months
- Proforma invoice / quotation from the dealer showing on-road price
- Employment or business continuity proof
- After purchase: RC copy with hypothecation, insurance policy naming the bank, and final invoice
How to apply for Bank of Baroda Car Loan
- Pick the car and get a quoteAsk the dealer for an itemised on-road quotation — ex-showroom, road tax, registration, insurance, TCS and accessories.
- Compare offersCheck rate, rate type (fixed / floating), processing fee, foreclosure charges and the APR in each lender’s Key Facts Statement.
- ApplyOnline, through the bank app, at a branch or at the dealership; many banks give pre-approved offers to existing customers.
- SanctionThe bank checks your credit report, income and the car’s price, then issues a sanction letter and KFS.
- Sign and pay marginSign the loan agreement, set up NACH/e-mandate for EMIs and pay your down payment to the dealer.
- Disbursal and registrationThe bank pays the dealer directly; the RTO registers the car with the bank’s hypothecation on the RC. Submit the RC and insurance copies to the bank.
Bank of Baroda vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹8,00,000 |
|---|---|---|---|---|
| Canara Bank Car Loan | 7.45% – 15.00% | 0.25% of loan (min ₹1,000, max ₹5,000) + GST; 50% waiver from 1 Jul to 30 Sep 2026 | Up to 84 months (7 years) | ₹16,011 |
| Bank of Baroda Car Loan | 7.60% – 11.30% | Up to ₹10 lakh: ₹1,500 + GST; above ₹10 lakh: ₹2,000 + GST; ₹500 + GST for government / PSU employees | Up to 84 months (7 years) | ₹16,068 |
| PNB Car Loan | 7.60% – 9.70% | 0.25% of loan (min ₹1,000, max ₹1,500) + GST | Up to 84 EMIs (7 years) | ₹16,068 |
| Union Bank of India Car Loan | 7.60% – 10.00% | ₹1,000 + GST (aggregator); often waived for electric vehicles | Up to 84 months (7 years) | ₹16,068 |
| HDFC Bank Car Loan | 8.15% onwards | Up to 0.5% of loan (min ₹3,500, max ₹8,000) per BankBazaar; ClearTax shows 1% (min ₹3,500, max ₹9,000) — plus GST | 12 – 84 months | ₹16,279 |
| ICICI Bank Car Loan | 8.40% onwards | Up to ₹8,500 + GST | 12 – 84 months | ₹16,375 |
| SBI Car Loan | 8.40% – 9.35% | Up to ₹5 lakh: ₹500 (salaried) / ₹750 (others); ₹5 – 10 lakh: ₹1,000 / ₹1,250; above ₹10 lakh: ₹1,500 / ₹2,000 — all + GST | Up to 7 years (Green Car Loan up to 8 years) | ₹16,375 |
| Axis Bank Car Loan | 8.95% – 11.75% | ₹3,500 – ₹5,500 + GST | 12 – 96 months (up to 8 years) | ₹16,587 |
Frequently asked questions
What is the Bank of Baroda Car Loan car loan interest rate?
Bank of Baroda car loan rates start at 7.60% and go up to 11.30% p.a. (as of Sep 2026 (official page, undated)). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹8,00,000 from Bank of Baroda?
At 7.60% for 5 years the EMI is about ₹16,068, with total interest of ₹1,64,104.
What is the processing fee?
Bank of Baroda: Up to ₹10 lakh: ₹1,500 + GST; above ₹10 lakh: ₹2,000 + GST; ₹500 + GST for government / PSU employees. GST at 18% applies on fees.
What is the maximum tenure?
Bank of Baroda: Up to 84 months (7 years).
Can I prepay or foreclose the loan?
Bank of Baroda: Floating: nil. Fixed: free up to ₹40,000 within 2 years, 2% + GST above that within 2 years, nil after 2 years.
Do I have to buy credit life insurance from Bank of Baroda?
No. Group Credit Life Insurance is optional; without it the rate is 0.05% higher.
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with Bank of Baroda Car Loan. Terms change — confirm with the lender.