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Bank of Baroda Car Loan — Used over 5 to 7 years

Published version 2 · Checked 11 Oct 2026

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Loan type
Vehicle
Minimum amount
Not published
Maximum amount
MUR 600,000.00
Minimum term (months)
Not published
Maximum term (months)
36
Minimum annual interest rate

A yearly interest percentage. In a reducing-balance estimate, interest is charged on the amount still owed. Fees may be extra.

7.7%
Maximum annual interest rate

A yearly interest percentage. In a reducing-balance estimate, interest is charged on the amount still owed. Fees may be extra.

8.7%
Rate type
Variable
Rate basis
Not published
Rate qualifier
Range
Reference rate
Not published
Reference rate value (p.a.)
Not published
Published margin (p.a.)
Not published
Reference rate as of
Not published
APR

A yearly cost measure that includes interest and specified charges. Check the bank’s definition; it is different from the nominal interest rate.

Not published
APR basis
Not published
Minimum monthly income
Not published

About this loan

Bank of Baroda Car Loan — Used over 5 to 7 years

  • older than 5 years but not more than 7 years old

Rate evidence

Advertised bank pricing: PLR (7.70% p.a.) for qualifying applicants; otherwise PLR + 1.00% (8.70% p.a.). At the PLR dated 15 June 2025; confirm concession eligibility.

Eligibility and conditions

  • Only for vehicles older than five years but no more than seven years.
  • PLR 7.70% is from the schedule effective 15 June 2025. Rates are variable; confirm the current personal offer with the bank.
  • PLR concession requires one of: specified additional security equal to 50% of the loan; an existing standard-category housing loan; gross salary of at least Rs 50,000/month pledged to the bank; or existing standard-category credit secured by a first-rank fixed property charge (excluding housing). Otherwise PLR + 1.00% applies. The lower-rate estimate assumes qualification.

Costs not yet priced

  • Confirm processing fees, insurance, taxes, legal/registration charges and any other costs with the bank.
Sources & verification (29 facts)
Estimate config

Checked 11 Oct 2026

The key will be in your hands. Explore car loans from Bank of Baroda. Car Loans Eligibility Purpose Amount Margin Repayment Rate of Interest Security Processing Fees Documents Required Sanctioning Authority Permanent employees (of government., parastatal bodies, reputed public and private companies) Self-employed/businessmen having regular source of income with minimum monthly income of Rs. 10,000 Corporates, proprietors, partners, directors of private/public ltd. company with min. monthly income of Rs. 20,000 For purchase of car for personal use Maximum Rs. 30,00,000 for new vehicles Maximum Rs. 10,00,000 for reconditioned/second-hand cars not more than 5 years old Maximum Rs. 6,00,000 for reconditioned/second-hand cars older For new cars - 20% of purchase price For reconditioned/second-hand cars not more than 5 years old - 25% of purchase price For reconditioned/second-hand cars which are older than 5 years but not more than 7 years old - 40% of purchase price (Purchase price includes cost of car, VAT registration charges/road tax and insurance.) For new cars - 7 years For reconditioned/second-hand cars not more than 5 years old - 7 years For others - 3 years (Loan repayment to commence one month after disbursement.) At PLR, in following cases:- If the applicant provides securities by way of FDR/assignment of life insurance policies/creation of 1st rank charge on property equal to 50% of loan amount If the applicant is our existing client availing housing loan under standard category For people having gross minimum salary of Rs. 50,000/- p.m. and salary is pledged in favour of the bank If the applicant is our existing client availing credit facilities under standard category where he has created 1st rank fixed charge on the properties (excluding housing loan) For others - PLR +1.00% Gage sans deplacement Salary pledge Comprehensive insurance assigned in bank’s favour Option for getting interest concession Lien on FDR/assignment of life insurance policies 1st rank fixed charge on the property 1.00% of loan amount – Minimum Rs. 2,500; Maximum Rs. 15,000 (One-time fee, No processing charges to be charged at the time of renewal) Copy of national ID card Copy of driving license for vehicle for which loan is applied Salary slips of last 3 months for salaried, and MRA return for businessman Quotation for the cost of vehicle Time frame for taking credit decision/disposal of proposal from the date of submission of data/information is within 10 working days for all credit facilities up to Rs. 3,00,000. Apply Online Calculators Download Forms Need Assistance? General Call (230) 208 1504/05 (230) 208 3891/93 Email Us cesecretary.mu @bankofbaroda.com 24X7 Service for Card Blocking Mauritius: 8974 Outside Mauritius: (230)58958974 Address: P.B. No. 553 No.32, Sir William Newton Street, Port Louis Mauritius Request Callback Please fill in these details, so we can call you back and assist you. Related Products Baroda Personal Loan Know More House Loan Know More Mortgage Loan Know More Road Transport Loan Know More

Document: Bank of Baroda: car

Document section: Reviewed product terms

Website section: Loans / Cards

Bank breadcrumbs: Products → car

Downloaded 11 Oct 2026, 14:45. Effective from: Not stated.

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