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Bank of India Car Loan

Home Bank of India Bank of India Car Loan

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Updated: 02-12-2020 06:24:42 AM
Note: The car loan interest rates mentioned on this archived page are from October 2018 and may have changed now. In order to know the latest rates please visit the Bank of India website.

 

About the Bank of India

Bank of India is a nationalized bank founded in the year 1906 and headquartered at Mumbai. The Bank of India has 4963 branches in India that are spread over the length and breadth of the country. Bank of India also has overseas presence in 22 foreign countries across 5 continents. Bank of India offers several banking and financial services to the citizens of India as well as NRIs.

Bank of India Car Loan: An Overview

Owning a car used to be a luxury statement as well as a dream rather than a reality for people in the earlier times. However, today it is more of a necessity of life as it provides a reliable means of transport for one’s family. Due to the high cost of living, several people, whose salaries or incomes are not sufficient to buy a car outright, they have to wait for their savings to grow larger so that they can still live their dreams of owning a car no matter if it’s a pre-owned car or a new one. Bank of India offers the Bank of India Star Vehicle Loan Scheme for such individuals.

The Bank of India Star Vehicle Loan Scheme is offered to individuals to purchase a two/four wheeler vehicles (not requiring heavy duty license), as well as for purchase of used/second hand 2 and 4 wheeler (age of the vehicle not to exceed 3 years). This car loan can also be availed for the purpose of reimbursement of cost of four wheeler purchased from own sources.

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