Bank of Baroda Bike Loan
Bob Two Wheeler Loan:
To enable eligible applicants as per BOB Two Wheeler Loan eligibility norms, bank offers finance schemes on easy terms, such as a convenient BOB Two Wheeler Loan rate, to purchase two-wheelers.
BOB Two Wheeler Loan Interest Rate:
- Bank states BOB Two Wheeler Loan rate as being calculated on base rate.
- Base rate for above purpose is at 9.50% per annum
- Effective BOB Two Wheeler Loan interest rate is at 13.50% per annum
BOB Two Wheeler Loan Eligibility Norms:
Following are eligible for loan, under BOB Two Wheeler Loan eligibility criteria:
- Resident Indians
- Salaried employees
- Non-salaried class: self-employed businessmen and traders; professionals
- Farmers and agriculturists
- Stated BOB Two Wheeler Loan interest rate remains uniform for all categories of borrowers.
Quantum Of BOB Two Wheeler Loan:
Minimum and maximum amount of loan extended at BOB Two Wheeler Loan rate, to applicants who are able to satisfy BOB Two Wheeler Loan eligibility criteria, is as follows:
- Lower limit on loan amount is Rs.5000
- Upper limit is at Rs.1 lac
- Actual amount of loan that would be disbursed is equal to 5 times monthly income of applicant.
- Margin of 10% is also considered before disbursal of above amount
- Irrespective of amount of loan that will be disbursed; BOB Two Wheeler Loan interest rate remains uniform.
Procedure To Be Followed While Applying For BOB Two Wheeler Loan:
- All eligible applicants as per prescribed set of BOB Two Wheeler Loan eligibility conditions may log on to official website to be able to download form. Duly-filled in application form along with following documents have to be submitted at the nearest bank branch to avail of loan at BOB Two Wheeler Loan rate:
a) Age proof
b) Address proof
c) Signature proof
d) Proof of income / salary: ITR / salary slip
e) Papers of Insurance of vehicle
f) Two passport-sized photographs
- If loan amount exceeds Rs.50, 000: security is required:
a) Primary security: hypothecation of vehicle to be acquired
b) Collateral: papers of NSC and Share certificates
Or
Mortgage of property
c) Third party acceptable to bank acting as guarantor
- Processing fee at a minimum of Rs.250 is also charged; calculated at 2% of loan amount.
Tenure Of BOB Two Wheeler Loan:
Bank specifies tenure of loan to be equal to 5 years, at the end of which all borrowers should have repaid entire quantum disbursed to them, at BOB Two Wheeler Loan rate.
Repayment Of BOB Two Wheeler Loan:
Borrowers should repay full amount of loan disbursed at BOB Two Wheeler Loan interest rate, in a maximum of 60 equated monthly installments.
Product Page URL Of BOB Two Wheeler Loan: you may log on tohttp://www.bankofbaroda.com/int_adv.asp#retailloan to know more.
Branch Office Address (In Table):
City
|
Branch
|
Address
|
Phone number
|
Delhi
|
ASAFALI RD
|
ASAFALI RD,
JEEVAN VIKAS BHAWAN, 30/31 A,
ASAFALI RD,
NEW DELHI-110002
|
011- 23234812
|
Mumbai
|
NAVI MUMBAI
|
SHOP NO 1 TO 4,GR FLR, YASH RESIDENCY,
PLOT NO 6, SECTOR 6,
NAVI MUMBAI - 400708
|
022- 27606021
|
Kolkata
|
ALIPORE
|
ALIPORE BRANCH,
38/1/E,
GOPAL NAGAR ROAD,
KOLKATA - 700027
|
033- 24795525
|
Chennai
|
ALWARPET
|
ALWARPET BRANCH,
252 A, TTK ROAD, ALWARPET,
CHENNAI - 600018
|
044- 23454226
|
