Review of Bank of Baroda and Union Bank Car Loan. Here is Dream Finance Offer without Prepayment, Forecloure charge with Very attractive rates
Best Car Loan Scheme in India: Union Bank & Bank of Baroda
Car Finance got a new scheme from 2 Large Public Sector Banks where they offering special finance scheme for coming Festive Season
Union Bank Car Loan Scheme
Key Highlights of Union Bank Car Loan from September to November 2021
- No Pre Payment Charges on Car Loan
- No Foreclousre Penalty Charges if loan foreclosed through Own Funds
- No Processing Fees
- 90% On Road Finance
- Finance upto 7 years
- Interest Rates Starting from 7.25% as special finance scheme for Festival Season. For anyone with CIBIL Score more than 725 can have lowest rate
| CIBIL Score | Interest Rate |
| > 725 | 7.25% |
| > 700 but < 725 | 7.35% |
| Less than 700 | 7.50% |
This is a Floating rate scheme and is very attractive finance deal
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Bank of Baroda Car Loan
Key Highlights of Bank of Baroda Car Loan from September to November 2021
- No Pre Payment Charges on Car Loan from day 1 for Individuals
- No Foreclousre Penalty Charges from day 1 for Individuals
- Loan Processing Fees of Rs 1770
- 85% On Road Finance
- Account Mandatory with Bank of Baroda else Account Opening charge of Rs 1000
- Interest Rates Starting from 7.3% as special finance scheme for Festival Season. For anyone with CIBIL Score more than 800 can have lowest rate
| CIBIL Score | Interest Rate |
| > 800 | 7.3% |
| > 770 but < 800 | 7.65% |
| Less than 770 but > 725 | 7.90% |
This is a Floating rate scheme and is very attractive finance deal for someone looking for flexibility of part payment and Foreclosure.
Important Highlights
Important to note that its a Floating Interest rate scheme by Banks. So basis Intertest Rate Fluctuations - your Interest Outflow will be impacted and may not be same at rate at which the loan booked
Stamp Duty as per applicable rates needs to be paid and would be additional. Generally Stamp Duty Varies from State to State.
Your Cat Loan Rate is Determined after a thorough assessment by Bank including CIBIL Score
You can apply Online with Bank of Baroda and Union Bank for quick processing
Documents Required
- Copy of PAN Number, Aadhaar Card
- Address Proof (Verified from Aadhar, Utility Bill, Bank Statement, LIC Policy)
- Latest ITR Return for 2 yrs with Computation for Business / Last 3 Month Salary Slip + 2 Year Form 16 for Salaried
- Bank Statement for last 6 months
- 2 Passport Size Photograph