Bank of Baroda car loan interest rate and EMI calculator
Bank of Baroda car loans are at 7.85% to 11.30% a year (floating rate). On its site, Bank of Baroda does not show the average rate that it charges. The calculator starts at 7.85%, the lowest floating rate of Bank of Baroda (most borrowers pay more). The calculator also shows the processing fee, the annual percentage rate (APR) and the foreclosure charge. Verification date: 27 Oct 2026.
Bank of Baroda car loan interest rate and charges
| Interest rate | 7.85% to 11.30% a year (floating BRLLR 8.15% − 0.30% upwards; fixed 8.50% to 11.20%; by CIBIL score (minimum 701)) |
| Average rate charged | Not published by the lender |
| Processing fee | ₹1,500 (loan up to ₹10 lakh) or ₹2,000 (above ₹10 lakh); ₹500 for government and PSU employees + GST |
| Close early / part-payment | Floating rate: nil for individuals. Fixed rate: 2% + GST if you prepay more than ₹40,000 or close the loan within 2 years; nil after 2 years. |
| Loan amount and tenure | Up to 90% of the on-road price; up to 84 months (fixed rate: at least 37 months); maximum ₹3 crore for individuals |
Bank of Baroda car loan rate by borrower
| Borrower | Rate |
|---|---|
| Floating (BRLLR − 0.30% to BRLLR + SP + 3.15%) | 7.85% to 11.30% |
| Fixed | 8.50% to 11.20% |
The bank's table shows 7.60% as the lowest floating rate. But its formula (BRLLR 8.15% − 0.30%) and its banner give 7.85%. We use 7.85%. Add 0.05% if you do not buy the group credit life insurance. Home loan borrowers of BoB pay 0.25% less.
Bank of Baroda car loan EMI table
EMI at 7.85% (the rate for Bank of Baroda's lowest floating rate (most borrowers pay more)). The loan is the on-road price less your down payment.
| Loan | 3 yrs | 4 yrs | 5 yrs | 6 yrs | 7 yrs |
|---|---|---|---|---|---|
| ₹3,00,000 | ₹9,380 | ₹7,303 | ₹6,061 | ₹5,238 | ₹4,653 |
| ₹5,00,000 | ₹15,634 | ₹12,171 | ₹10,102 | ₹8,730 | ₹7,756 |
| ₹7,00,000 | ₹21,887 | ₹17,040 | ₹14,143 | ₹12,222 | ₹10,858 |
| ₹8,00,000 | ₹25,014 | ₹19,474 | ₹16,164 | ₹13,968 | ₹12,409 |
| ₹10,00,000 | ₹31,267 | ₹24,343 | ₹20,205 | ₹17,460 | ₹15,512 |
| ₹12,00,000 | ₹37,521 | ₹29,211 | ₹24,246 | ₹20,952 | ₹18,614 |
| ₹15,00,000 | ₹46,901 | ₹36,514 | ₹30,307 | ₹26,190 | ₹23,267 |
| ₹20,00,000 | ₹62,534 | ₹48,685 | ₹40,409 | ₹34,920 | ₹31,023 |
Cost of the rate on ₹8 lakh for 5 years
APR includes the highest processing fee with GST. It shows the full cost of the loan for each year.
| Rate | EMI | Total interest | APR |
|---|---|---|---|
| Lowest rate (7.85%) | ₹16,164 | ₹1,69,825 | 7.94% |
| Middle of the range (9.57%) | ₹16,829 | ₹2,09,732 | 9.67% |
| Highest rate (11.30%) | ₹17,514 | ₹2,50,832 | 11.40% |
Foreclosure: cost to close the loan
5-year loan at 7.85%. The charge is on the balance that you repay, and you also pay GST.
| Loan | EMIs paid | Balance | Charge |
|---|---|---|---|
| ₹5,00,000 | 6 | ₹4,58,335 | Nil |
| ₹5,00,000 | 18 | ₹3,69,951 | Nil |
| ₹5,00,000 | 30 | ₹2,74,374 | Nil |
| ₹10,00,000 | 6 | ₹9,16,669 | Nil |
| ₹10,00,000 | 18 | ₹7,39,902 | Nil |
| ₹10,00,000 | 30 | ₹5,48,747 | Nil |
Bank of Baroda and other banks
The data comes from the site of each bank. If a bank shows the average rate that it charged, that rate is the most accurate guide to the rate that a usual borrower gets.
| Lender | Rate | Average charged | Processing fee | Close early |
|---|---|---|---|---|
| State Bank of India | 8.55%–9.50% fixed | 8.90% Jul–Sep 2026 | ₹500–₹2,000 flat | 2% in first 2 years, then nil; part-payment nil |
| HDFC Bank | 7.60%–14.00% fixed | 8.63% Apr–Jun 2026 | 0.5% (₹3,500–₹8,000) + ₹700 | 5% (any time) |
| ICICI Bank | 8.00%–11.20% fixed | 8.92% Jul–Sep 2026 | Up to ₹8,500 | 3% / 2%; nil after 24 months |
| Axis Bank | 8.80%–11.70% fixed | Not published | Up to 2% + ₹700 | 5% (any time) |
| Punjab National Bank | 7.90%–10.95% floating | Not published | 0.25% (₹1,000–₹1,500); waived to 31 Dec | Nil (floating) |
| Bank of Baroda | 7.85%–11.30% floating | Not published | ₹1,500 / ₹2,000 flat | Nil (floating) |
| Canara Bank | 7.75%–10.95% floating | Not published | 0.25% (₹1,000–₹5,000); waived to 31 Dec | Nil |
| Union Bank of India | 7.85%–10.25% floating | Not published | ₹1,000 flat | Nil (own funds) |
| Bank of India | 7.85%–8.95% floating | Not published | 0.25% (₹2,500–₹10,000) | Nil (floating, RBI rule) |
Frequently asked questions
What is the Bank of Baroda car loan interest rate?
Bank of Baroda car loans are at 7.85% to 11.30% a year. The floating rate is BRLLR 8.15% − 0.30% and more. The fixed rate is 8.50% to 11.20%. The rate changes with the CIBIL score (minimum 701). On its site, Bank of Baroda does not show the average rate that it charges. The calculator uses 7.85%, the lowest floating rate of Bank of Baroda (most borrowers pay more). The bank sets your rate from your credit score, income, the car and the tenure.
What is the EMI for an ₹8 lakh Bank of Baroda car loan?
At 7.85%, the EMI is ₹16,164 for 5 years and ₹12,409 for 7 years. At 7.85%, it is ₹16,164 for 5 years.
What is the processing fee for a Bank of Baroda car loan?
₹1,500 (loan up to ₹10 lakh) or ₹2,000 (more than ₹10 lakh); ₹500 for government and PSU employees. You also pay GST at 18%. On an ₹8 lakh loan, the highest fee with GST is ₹1,770.
Can I prepay a Bank of Baroda car loan?
Yes. On a floating-rate loan to an individual, there is no charge. On a fixed-rate loan, the bank charges 2% plus GST in the first 2 years if you close the loan or prepay more than ₹40,000. After 2 years, there is no charge.
Is the Bank of Baroda car loan rate fixed or floating?
Bank of Baroda gives floating-rate car loans that follow the repo rate. Thus, your rate changes when RBI changes the repo rate. It also has a fixed-rate alternative at a higher rate.
Sources
- Bank of Baroda: Baroda Car Loan – rates, charges and MITC. Read on 27 Oct 2026.
Banks frequently change these rates. We examine them each month. Your sanction letter and Key Facts Statement show the rate and charges that you pay. Use the KFS / APR checker to examine them.