Bank of India Car Loan Apply 2024 – Interest Rate & Types

Bank of India Car Loan Apply 2024 – Interest Rate & Types: Hi friends, In this article, we will know in detail what is Bank of India car loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so you can complete this article till the end. read.

If you want to buy the car of your dreams and you are short of money then you can join Bank of India Car Loan. Before applying for a car loan, it is important for you to know completely what is a car loan ?

When you take a loan to buy a used, new or luxury car, it is a car loan. How to buy bike bike loan Similarly, take a car loan to buy a car.

Bank of India Car Loan Details

Car loan comes under the category of secured loan. That is, to take this loan, you have to give any collateral or security, but in a car loan, the car itself acts as a collateral. customer to take loan CIBIL Score It is important to be very good. If your credit score is very good then you can go for Bank of India attractive Car loan interest rate can take advantage of. You can also take a car by joining it because you can take a personal loan to fulfill any of your personal purposes. But a personal loan can be costlier than a car loan.

Under Bank of India Car Loan, you can get a maximum loan of up to Rs 200 lakh. You can take advantage of this loan to buy a new, used or any type of car. The maximum loan tenure of the loan is up to 7 years. At present, the Bank of India car loan interest rate starts from 7.25% per annum. The processing fee is up to 1% of the loan amount.

Benefits and Features of Bank of India Car Loan

• Any person can take advantage of Bank of India car loan to buy any type of new or used car.
• At present, the BOI Car Loan interest rate starts from 7.25% per annum.
• Under this loan, you can take a loan up to a maximum of Rs 200 lakh.
• apply for this car loan both online and offline.
• apply for Bank of India Loan by calling the customer care number of the bank.
• The processing fee for New Car Loan is up to 0.25% of the loan amount subject to a minimum of Rs.1000 and a maximum of Rs.5000.
• The processing fee for a second hand car loan is up to 1% of the loan amount subject to a minimum of Rs.500 and a maximum of Rs.10,000.
• BOI Car Loan The maximum term is up to 7 years.

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Bank of India Car Loan Key Features​

loan name	bank of india car loan 2023
name of the lender	Bank of India
Rate of interest	Starting from 7.25% p.a.
processing fee	For New Car Loan: Up to 0.25% (Minimum Rs.1000, Maximum Rs.5000 ) For Second Hand Car Loan: 1% of Loan Amount ( Minimum Rs.500, Maximum Rs.10,000 )
loan tenure	7 years
Application Mode	online / offline
official website	https://www.bankofindia.co.in/

Bank of India Car Loan Eligibility

Only those individuals can apply for this car loan who are eligible for it. For more details about eligibility, you can contact to your Nadjiki Bank branch. Some of the general eligibility are as follows:

• All types of Salaried Employees, Professionals, Self Employed Salaried Employees, Professionals, Self Employed Persons can apply.
• Both resident and non-resident people of India are eligible.
• The maximum age of the applicant should not be more than 65 years.
• Companies, partnership firms, proprietary concerns and other types of corporate entities are eligible.
• HUF not eligible.

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Documents Need for Bank of India Car Loan

Before applying, you should also have the necessary documents so that whenever the bank asks you for documents, you can immediately show them all the documents. For more information about the document, you can go to the bank and contact. Some common documents are as follows:

• Signed application form with photograph
• Photo ID and age proof
• Proof of residence
• Bank statement of last 6 months
• Documents for Salaried Applicants:
• Salary slip of last 3 months
• Form 16 or Income Tax Return
• Documents for Self Employed Applicants:
• Tax Return of last 3 years with computation of income
• CA Certified/Audited Balance Sheet and Profit and Loss Account for the last 3 years

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How to apply Bank of India Car Loan ?

If you fulfill all the conditions of the bank, then you can apply for it both online and offline. You can also apply for the loan by calling the customer care number of the bank. Follow the steps given below to apply:

Bank of India Car Loan Apply Online

• To apply online, first you have to visit the official website of the bank bankofindia.co.in But have to come.
• After visiting the website car loan Click on the option.

• All the information related to car loan will come in front of you.
• To apply, click on the option of Apply Now.
• The loan application form will open in front of you.
• Enter the requested information in it and click on submit.
• Then the bank will contact you and the loan process will be issued further.

How to apply for car loan offline ?

• To apply offline, you have to first go to your nearest bank branch.
• Contact the bank employee who will provide you information about the car loan.
• Your documents will be verified.
• Then you have to fill the form and submit the documents.
• In this way your application will be done.

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BOI Car Loan Interest Rate 2024

At present, the interest rate of BOI Car Loan starts from 7.25% per annum. This interest rate may vary depending on the applicant’s CIBIL score, profile, loan amount, age etc. If you are an existing customer of the bank and your credit score is very good, then you can take advantage of the attractive interest rates of the bank.

Before applying for a car loan of any bank, it is important for you to know about the interest rate of that loan properly. You can apply for the cheapest car loan by comparing the car loan interest rate of different banks.

BOI Car Loan EMI Calculator

Before applying for BOI Car Loan, you should calculate the EMI of your loan so that you will get an idea of how much installment you will have to pay at the time of loan repayment. You can calculate your loan EMI with the help of Car Loan EMI Calculator by visiting the official website of the bank.

You can apply for the cheapest car loan by comparing the car loan EMI of different banks. Car loan amount, interest rate, loan tenure, processing fee, etc. are the factors that affect the EMI of a car loan.

BOI Car Loan Customer Care Number

If you have any other type of information regarding this loan, then you can get information by calling the customer care number of the bank.

• Customer care: 8010968305 / 7669300024

Final Touch: Review

In this article we have you Bank of India Car Loan Apply, Interest Rate Provided complete information about. Anyone can take advantage of this loan to buy the car of their dreams.

Hope friends, you have found this article informative. If you liked this article then please share it as much as you can.

FAQ’s on Bank of India Car Loan