Thursday 1 September 2016

Bank of Baroda Car Loan | Letzbank

Bank of Baroda (BOB) was established dated 20th July, 1908 by the Maratha, Maharaja of Baroda His Highness Sir Savajirao Gaekwad III. His Highness incorporated the bank on the doctrine of financial prudence & corporate governance, to meet the financial requirements of many lives across the country. The transformation of the bank took place dated 19th July 1969 when the bank was recognized as a nationalized bank, by the Government of India. Further, the bank was also designated as a profit-making public sector undertaking. The bank has its corporate office in Mumbai - the commercial capital and has its headquarters in Vadodara- Gujarat. The bank ranks as second largest public sector bank in the country subsequent to State bank of India. BOB offers a broad variety of good financial products and services to the clients from corporate and retail segments. The bank has an affluent presence both nationally and internationally with a strong set-up of 5307 branches and 8000 ATM's within the country. Globally, the bank operates across 25 countries. BOB has outsourced customer care services through leading organizations namely - TCS and IBM to offer its client an exceptional banking experience. In the year 2014, BOB had ranked 801 on Forbes Global 2000 . This article aims at giving you an in-depth brief about Bank of Baroda Car Loan
Baroda Car Loan:
Bank of Baroda Car Loans is a convenient car loan that can be applied for purchase of your car weather new or old. Bank of Baroda also offers finance for installation of a CNG/LPG Gas kit in your vehicle with an aim to publicise the usage of alternate fuel and save on the national security of the country.
Know key benefits of Bank of Baroda Car Loan:
·         BOB car loans are available upto Rs.100 Lakhs or upto twice your annual gross income for purchase of a car of any make or model which is inclusive of Gas-kit – In case of salaried individual.
·         BOB car loans are available upto Rs.100 Lakhs or upto thrice your annual gross income for purchase of a car of any make or model which is inclusive of Gas-kit – In case of self-employed person or a businessman. 
·         BOB Car loan can be availed for purchase of old vehicles which should not be more 3 years old.
·         BOB car loan can be paid back during a loan tenure of 7  years
·         The loan will be disbursed with a charge of low processing fee
·         The does not pose any prepayment penalty towards making a prepayment of your car loan.
·     There is a concession in rate of interest offered for customer who deposit atleast 50% amount as a security deposit or collateral.
·         Home loan borrower having a good track record are offered a concession of 0.25%
·         You should be a salaried or self-employed in a reputed organization, or a govt. employee to apply for a car loan at Bank of Baroda
  • Repayment can be done within 84 months of purchase of a new vehicles whereas within 36 months for second hand vehicles. For installation of only CNG or LPG gas kit repayment can be done within a period of 24 months.
  • Margin money that need to be he is around 15% of the on road price of the car in case of purchase of a car upto Rs.15 Lakhs.
  • For loans more than Rs. 15 Lakhs margin money of approximately 20% of the on road price of car needs to be deposited.
  • Age Limit for avail BOB car loan is 21 years which should not exceed more than 65 or the age of retirement by the end of your loan tenure or whichever is earlier.To know more on BOB Car Loans – Look into Letzbank.
-          Letzbank will help you rush through other car loan options available in market.
-          You can choose from the best car loan offers offering lesser interest rates, lower EMI and multiple repayment option during a substantially long loan tenure.
-          Submit your application with us online and get your service fee exempted.
-          E-save your documents in our document locker for future transactions

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