If you are planning to buy a car this Navratri, then this news is of your use. Actually, on behalf of Bank of Baroda, car loans are being made available to the customers at a low rate of interest.
BoB is charging interest at the rate of seven percent
BoB has made a tweet from the official Twitter handle. It is written in it that hit the spot and take your favorite car customer home at affordable rates of interest. BoB is charging interest on car loans at the rate of seven per cent.
A link to the website has also been given on this tweet by BoB, in which all the information related to the car loan has been given. Apart from this, you can also apply for a car loan.
Maro mauke pe chauka and drive home your new four-wheeler at competitive interest rate. #BankofBaroda ke #BarodaCarLoan ke saath, #FrontFootPeKhelo
Apply now https://t.co/TDW1WvPIzU#BankofBaroda #AzadiKaAmritMahotsav @AmritMahotsav pic.twitter.com/Wp57RHrP3z
— Bank of Baroda (@bankofbaroda) March 24, 2022
Loan is available on these cars
As per the link provided by BoB, you can take loan against hatchbank, sedan, MUV, SUV, sports car and luxury car. Like BoB, this loan can be availed by Salaried Employees, Traders, Businessmen, Corporates as well as NRI people.
On behalf of BoB, customers are getting the facility of financing up to 90 percent at the rate of seven percent interest.
BoB is claiming that this interest rate is quite economical as compared to other banks.
Know the interest rate of other banks
While BoB is charging interest at the rate of seven per cent, State Bank of India (SBI) is charging interest at the rate of 7.20 per cent.
Canara Bank charges interest at the rate of 7.30 per cent.
Interest is charged at the rate of 7.45 per cent in Axis Bank.
Talking about Federal Bank, it is charging the highest interest rate of 8.50 percent on car loan.
BoB offers attractive interest rates on loans to all the customers based on their credit score. Also, existing home loan borrowers with good credit history get a 0.25% discount on their car loan interest rate.
The car loan limit has been kept by the bank up to one crore rupees, which means you can take a car loan of one crore rupees from the bank.