Bank of Baroda Car Loan Form
This is an application form for a Car Loan issued by the Bank of Baroda and this form can be from the bank’s official website i.e. https://www.bankofbaroda.in/, or it can be directly downloaded from the link given below.
Details to be Mentioned in Bank of Baroda Car Loan Form
- Applicants Name
- Category Type of Applicants i.e. SC/ST/OBC/Other
- Residence Address
- About Yourself
- Credit Card Details
- Self Employed/Professional/Business Details
- Salaried Person Details
- Proposed Loan Details
- Income Details
- And any other details
Eligibility for Bank of Baroda Car Loan
- Salaried Employees
- Businessmen, professionals, and Farmers
- Directors of Private and Public Limited companies, Proprietor of Proprietorship Firms, partners of Partnership Firms.
- Corporates (Partnership, private Limited, Public Limited, and Trust)
- NRIs/PIOs
Car Loan Documents Required
All you need to do is make sure you have the following documents handy-
- Photo ID with age proof (like, PAN card, passport, driving license)
- Signed application form with 3 passports sized photographs
- Residence proof-like
- Valid passport
- Voter ID card
- Driving license
- Postpaid utility bill (gas bill and electricity bill)
- Updated passbook or bank account statement
- Notarized registered rent agreement
- Bank statement for the last six months
- If the applicant is a salaried individual
- Last 3 months’ salary slips
- Form 16 or Income Tax Returns
- If the applicant is a self-employed individual
- Balance sheet and profit and loss account, computation of income for last 2 years.
- Income Tax Returns – last 2 years for Applicants, 26 AS, Traces
- Business proof: Gomasta License, Registration Certificate, Service Tax Registration, among others
- IT Assessment / Clearance Certificate, Income Tax Challans / TDS Certificate (Form 16A) / Form 26 AS for income declared in ITR.
Some key features about Bank of Baroda’s car loan and interest rates include
- The processing fee of Rs. 1500/- + GST
- The loan tenure is up to 7 years for new cars.
- The loan value is up to 90% of the on-road price of the car. There are no prepayment charges
- The interest rate is based on BRLLR
- Daily reducing balance
- Credit score or CIBIL score, which should be within defined Scores of the Bank.
- The repayment period is up to 84 months, determined by EMI
- All cars financed by the bank are hypothecated to the Bank, which is removed on full and Final payment of the loan.
- Profile of borrowers include: salaried employees, businessmen, professionals, corporates, NRIs and PIOs
- The age range for getting an auto loan is 21 to 70 years.
- Bank of Baroda also offers car loan balance transfers from another bank and top-up car loans provided the borrower meets the eligibility criteria.
You can download the Bank of Baroda Car Loan Form in PDF format using the link given below or an alternative link for more details.