Bank of India car loan interest

I am thinking of takin’ car loan from the Bank of India but before applying for the loan I want to know about the car loan interest rate of the bank. Can you tell me what the interest rate is at the bank? If yes, tell me fast so that I can decide whether I should take loan from this bank or not?

[Saksham]

I am sharing the details of BOI Vehicle loan interest rates for your reference. You can go through it.

Rs.25 lacs were given for buying Indian made vehiclesband Rs.75 lacs for imported vehicles.

For Companies and corporate entities – Rs.100 lacs

Non-resident Indians – Rs.25 lacs.


Rate of interest on daily reducting balance


New Vehicles
Repayment upto 3 years
1.75% over Base Rate

New Vehicles
Repayment over 3 years
2.25% over Base Rate

Second Hand Vehicles
2.25% over Base Rate

Processing charge


Upto Rs.25,000
1000

Rs.25000 to Rs.25 lacs
1% of loan amount Min.Rs.2000 and Max. Rs.10,000

Loan Over Rs.25 lacs
Flat – Rs.15,000