The key to the future

Explore car loans from Bank of Baroda.

  • Eligibility
  • Key Features
  • Charges

Car Loans : Eligibility

  • Holder of UAE driving license

  • Minimum salary/monthly income of AED 4000

  • Max Limit  - New Car-AED 1250000

  • Old Car- AED 125000

Car Loans : 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

Car Loans : Charges

Rate of interest*: 3% p.a. (flat rate) or 6.00% p.a. (reducing balance), subject to change from time to time

Processing Charges *: 1% of the loan amount payment Charges*: 1% charges*: 1% of amount of loan minimum AED 250

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