Bank of Baroda is the third largest bank in India after State Bank of India and Punjab National bank and ahead of ICICI Bank. It was founded in 1908 and is headquartered in Baroda (Vadodara).The bank offers a wide range of customized and specialized services to meet the diverse needs of of its customers, and these services have been categorized into personal banking, business banking, corporate banking, international banking, treasury banking,and rural banking services.
The two wheeler loan helps you to purchase a motorcycle or a scooter of your choice and pay it in equated Monthly Installments EMIs. Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a two wheeler loan with ease..You all think that “how it is possible? To overcome this issue Bank of Baroda came with an exciting opportunity i.e. Bank of Baroda Two Wheeler Loan. This loan is eligible for salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of the Bank of Baroda.
1. No processing fee for staff or ex-staff of Bank of Baroda
2. Salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of BOB
3. Hassle free documentation
4. Can be availed to bus a new bike upto Rs.10 lakh
5. This loan is used to purchase bike for private use
6. Affordable interest rate start at 11.50% per annum onwards
7. Don't need to pay any pre closure charges
8. Easy monthly installments
9. Repayment tenure upto 5 years
To apply for a two wheeler loan, you have to pay fees and charges applied by the Bank of Baroda. It covers all charges and fees made by a bank to their customers.The following charges are taken from Bank of Baroda i.e processing fee, prepayment / foreclosure charges etc.
1. Processing fee = 2% of the loan amount (Minimum Rs.1000)
2. Foreclosure charges = NIL
3. Tenure period = 1 year to 5 years
4. Loan amount = Upto Rs.10 lakh
Before applying for a loan for two wheeler from Bank of Baroda, you should fulfil all basic eligibility criteria as prescribed by the bank. For the two wheeler loan application the salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of Bank of Baroda are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
Salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of BOB
21 years to 70 years
Any applicant who is going to avail a loan for two wheeler from Bank of Baroda must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
Filled application form
Passport size photograph
For salaried individuals = PAN card, voter’s ID, passport, Driving license
For self employed individuals = PAN card, voter’s ID, passport, driving license
For salaried individuals = Utility bills, passport, etc.
For self employed individuals = Utility bills, passport, etc.
For salaried individuals = Salary slips, IT returns, bank statements
For self employed individuals = Bank statements, IT returns, audited financial statements
9.15% to 15.90%
Start at 10.65%
Start at 11.83%
9.65% to 15%
10% to 18%
10% to 26%
Start at 11.83%
21% to 29%
Start at 11.50%
7.75% to 8.35%
Start at 10.70%
There are two ways to apply for Bank of Baroda Two Wheeler Loan :
1. Offline Method : By visiting the nearest bank branch
2. Online Method
Firstly visit lenders website or branch from which you want to get loan
Fill the application form and read all the term and conditions
Attach all required documents with an application form
After submitting form lenders will let you know that you eligible or not for the loan
Bank of Baroda Two Wheeler Loan Customer Care
Contact number : 18001024455 / 18002584455
To know the details of your branch please visit : http://bank of baroda.com/locate-us-branch.htm
The mathematical formula is used to calculating EMI of Bank of Baroda Two Wheeler Loan
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
P stands for the loan amount or principal,
R is the interest rate per month and
N is the number of monthly installments.
Financials products offered by Bank
The maximum loan tenure is 5 years for Bank of Baroda Two Wheeler Loan.
You can apply online or offline for a two wheeler loan from Bank of Baroda.
The interest rate provided for a two wheeler loan from Bank of Baroda starts at 11.50% per annum.
The processing fee provided by the Bank of Baroda two wheeler loan is 2% of the loan amount (Minimum Rs.1000).
The maximum loan amount is Rs.10 lakh provided by Bank of Baroda for two wheeler loan.
The following formula is used to calculate EMI of Bank of Baroda two wheeler loan is EMI = [PXRX(1+R)^N] / [(1+R)^N-1], Where, P stands for Loan Amount, R stands for Interest Rate, N stands for tenure in number of months
The minimum age is 21 years and maximum age is 70 years is required to take a two wheeler loan from Bank of Baroda.Last Updated on : 01/Sep/2020
Know More About
You're eligible for a Bank Of Baroda Two Wheeler Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
|Bank Of Baroda Two Wheeler Loan Details|
|Interest Rate (Monthly reducing balance)||11.5% - 0%|
|Processing Fees||2% of the loan amount (Minimum Rs.1000)|
|Loan Tenure||1 year to 5 years|
|Pre-closure Charges||Varies with bank|
|Guarantor Requirement||Varies with bank|
Two Wheeler Loans EMI Calculator