Auto Loan
 |
| Auto Loan |
Documents required for Digital Journey
For Salaried - Please keep the following handy !
- Aadhaar
Number connected with mobile number
- PAN
Number
- Digital
Bank statement for last 06 months or Net Banking Credentials
- Web-Camera
for clicking picture and performing Video KYC
- Margin
money receipt (If applicable)
For Self Employed - Please keep the following handy !
- Aadhaar
Number connected with mobile number
- PAN
Number
- Digital
Bank statement for last 06 months or Net Banking Credentials
- Digitally
generated ITR for last 2 years or ITR E-filing credentials
- Web-Camera
for clicking picture and performing Video KYC
- GST
Portal Credentials or Digital GST Return for 1 Year
- Margin
money receipt (If applicable)
Maximum loan amount for Digital Auto Loan is Rs.
50,00,000/-(Fifty Lakh)
Note: The Loan processing should be completed within 7 days
To know more about product features & benefits, please click hare
NOTE:- Get a car loan digitally to purchase vehicle of your choice.
You can buy a hatchback, sedan, MUVs, SUVs, Electric car. Our digital auto
loans are available to salaried employees, businessmen, professionals etc.
We offer attractive interest rates on car loans with up to 93% financing,
making our loans the ideal choice for funding your brand new car.
Car Loan : Features
- Resident
Individuals (singly) - Salaried employees, self-employed professionals
(Doctor, Engineer, Architect, Interior Designers, Tech management
consultants, Practicing Company secretaries etc.), Insurance agents and
self-employed business persons are eligible to apply for auto loans.
- Minimum
age of the borrower should be 21 years, while the maximum age at the end
of loan period is 58 years (for salaried) and 65 (self employed).
- The
interest rate on car loans is calculated on the daily reducing balance and
is based on the credit score or CIBIL Bureau score of the applicant. The
minimum credit score required for the loan is 701. CIBIL score of -1 is
also eligible.
- The
repayment period or tenure for car loans is flexible 12 months to maximum
of 84 months and is determined by the EMI amount.
- As
collateral, all cars financed through our auto loans are hypothecated with
Bank of Baroda. The hypothecation is removed once the borrower repays the
entire loan amount.
- Salaried
employees
- Self-employed
professionals (Doctor, Engineer, Architect, Interior Designers, Tech
management consultants, Practicing Company secretaries etc.)
- Self-employed
business persons and Insurance agents
Purpose:
For purchase of new passenger cars, multi utility vehicles
(MUVs), SUVs, Electric cars etc. for private use.
Age Criteria:
Minimum age of the borrower should be 21 years, while the
maximum age at the end of loan period is 58 years (for salaried) and 65 (self
employed)
Digital Car Loan : Document Required
More than a dream, having a car is nowadays a necessity to
be able to get from one place to another without having to wait for tightly
packed public transport, or to have the freedom to go anywhere anytime without
worrying about time schedules. Bank of Baroda offers car loans at really
attractive rates, flexible tenure and easy instalments, one of the lowest in
the industry, so you can have your dream car without feeling the pinch of a
making a big ticket purchase. When it comes to Bank of Baroda, the process to
secure a car loan is really simple.
All you need to do is make sure you have the following
documents:
- Personal
Identification Proof:
- PAN
Number (mandatory)
- Aadhaar
Number (mandatory)
- Digitally
generated Bank A/C Statement for last -6- months (mandatory)
- For
Self Employed (in addition to above stated in Point number A & B):
- Digitally
generated Income Tax Return (ITR-3&4) for the last -2- years
(mandatory)
Please Note: Digitally generated Bank Statements
& ITR referred as - bank statement received in email or generated through
Net Banking. ITR-3&4 downloaded from Income Tax Website in pdf/xml format.
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