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
Apply Now - Letzbank
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