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 |
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