Baroda Car Loan for NRI/PIOs

  • Benefits
  • Eligibility
  • Most Important Terms and Conditions (MITC)
  • Salaried employees
  • Businessmen, professionals
  • Directors of private and public limited companies, proprietor of proprietorship firms, partners of partnership firms
  • Corporates (partnership, private limited, public limited and trust).
Eligibility based on Income Criteria
salaried person

(*average of last 3 months GMI to be considered)

GMI less than Rs 50,000 24 times of GMI
GMI less than Rs 50,000 24 times of GMI
GMI less than Rs 50,000 24 times of GMI
Others 4 times of Gross Annual income (average of 2 years Annual Income)

Eligibility based on Repayment capacity

Total deductions including proposed EMI should not exceed

salaried GMI less than Rs 50,000 60%
GMI Rs. 50,000 & above but less than Rs. 1,50,000 70%
GMI Rs. 1,50,000 and above 80%
Others Average Annual Income (last 2 years) less than Rs. 6 lakhs 80%
Average Annual Income (last 2 years) less than Rs. 6 lakhs 60%
Average Annual Income (last 2 years) is Rs. 6 lakhs and above 80%

Maximum Limit

Rs. 100 lakhs (for all categories)

Repayment Period

Maximum 84 months


10% Margin on ‘on road price’ of the vehicle.

Bureau Score Validation

Minimum Bureau score cut off as per bank’s guidelines.


Minimum: Borrower: 21 years, Co-applicant: 18 years

Maximum: Age of the applicant/co-applicant/guarantor + repayment period should not exceed 70 years


Hypothecation of vehicle financed.


Comprehensive insurance of the vehicle with the bank’s clause

Pre-closure charges


Rate of Interest

To know rate of interest, click here
Rate of interest on car loan is based on CIBIL Bureau score of the applicant/ co-applicant. Minimum Cut off score is 725.

Concession in ROI: Concession of 0.25% in rate of interest on car loans to our existing home loans borrowers who maintain a good track record of repayment without any overdue.

Unified Processing Charges

To know processing charges, click here

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Select Loans Type
  • Baroda Car Loan for NRI/PIOs
  • Baroda CRE Home Loan for NRI/PIOs
  • Baroda Home Improvement Loan for NRI/PIOs
  • Baroda Home Loan
  • Baroda Home Loan Advantage for NRI/PIOs
  • Loan Against FCNR (B) Deposits in Foreign Currency in India
  • Loans Against FCNR (B) Deposits in Rupees
  • Baroda Top Up Loan for NRI/PIOs
  • Loans/Overdrafts Against Security of Non-Resident (Rupee) Fixed Deposits
  • Mortgage Loan
  • Others

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