The key will be in your hands. Explore car loans from the Bank of Baroda.
Key Features
- Financing up to 80% of cost of New Vehicle and up to 70 % of cost of vehicle value in case of old car
- Higher Repayment period up to 48 Months for new vehicle and up to 36 months for old vehicles
- Low interest rate
- Low Processing Fee
- No Hidden Charges
- Interest charges on Daily Reducing Balance
Eligibility
- Holder of UAE driving license
- Minimum salary/monthly income of AED 4000
- Max Limit – New Car-AED 1250000
- Old Car- AED 125000
Charges
| Income / Salary Range | Interest Rate |
| Up to AED 10,000/- pm | 3.75% flat or 7.50% reducing Balance |
| >AED 10,000/- pm – AED 25,000/- pm | 3.25 % flat or 6.50% reducing Balance |
| >AED 25,0000/- Pm | 2.75% flat or 5.50% reducing Balance |
| Processing Fees | 1.00% of loan amount with min. AED 500 & Max. AED 2500/- |
WARNING:
- You may have to pay penalties if you pay off a loan/financing early
- Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future