Bank of Baroda Car Loan interest rates · November 2026
Your car loan at BoB.
Choose a scheme. Understand the rate. Explore your repayment.
What would I pay each month?
See scheme conditions Scheme selected for illustration. Check eligibility with the bank.
About you
BoB's published car loan rates are the same whatever your credit score, income, gender or employer, so there's nothing to ask. Where you land inside a scheme's range is up to the bank.
At 7.85%, you repay ₹9.7 lakh: ₹8 lakh borrowed and ₹1.7 lakh interest.
From the first year, most of each EMI repays the loan.
Every 0.25% off the rate saves about ₹95 a month. Worth asking for.
Range estimate, not your approved offer. Excludes fees. Assumes the rate stays unchanged.
Scheme conditions & source
Understand this scheme
- Published rate
- 7.85%–9.00% p.a.
- Rate type
- Floating
- Pricing published as
- BRLLR − 0.30% to + 0.60% + SP
- Benchmark
- BRLLR today: 8.15%
- Who it's for
- New Car
What still needs confirming
- Your eligible rate and the scheme's conditions
- Processing fees and other charges
- How often the rate resets, and to what
Effective date not stated · checked 15 Nov 2026
Compare BoB's car loan schemes
Different schemes have different conditions. Starting rates are not personalised quotes.
| Scheme | Published rate | EMI range* | Choose |
|---|---|---|---|
| Digital Car Loan | 7.85%–9.00% | ₹16,164–₹16,607 | Selected |
| Car Loan2 borrower bands | 7.85%–13.65% | ₹16,164–₹18,470 |
*₹8 lakh over 5 years, before fees. Scheme names follow the bank's published wording.
Every car loan rate BoB publishes
3 rates across 2 schemes, by who each is for.
| Scheme and band | Who it's for | Rate | EMI* | Use |
|---|---|---|---|---|
| Digital Car LoanNew Car | As the band says | 7.85%–9.00% | ₹16,164–₹16,607 | |
| Car LoanNew Car | As the band says | 7.85%–11.55% | ₹16,164–₹17,614 | |
| Car LoanPre Owned Car | As the band says | 10.90%–13.65% | ₹17,354–₹18,470 |
*₹8 lakh over 5 years, before fees. Band names are the bank's own; “who it's for” is what they state.
How BoB compares
Each bank's lowest published rate, and what the same loan would cost a month there. Before charges.
The rates BoB's loans are linked to
A floating loan's rate is one of these plus a spread fixed when you borrow. When it moves, your EMI or your term moves at the next reset.
MCLR by reset period · from 12 Nov 2026
| Reset period | Compared | MCLR |
|---|---|---|
| Overnight | 7.85% | |
| 1 month | 8.00% | |
| 3 months | 8.50% | |
| 6 months | 8.70% | |
| 1 year | 8.85% |
A loan on MCLR resets at the end of its period, most often one year, to the MCLR then plus its spread. If yours is still on MCLR, you can ask to move it to the repo-linked rate.
Official Checked 15 Nov 2026 · Bank's own page
BoB car loan: questions borrowers ask
Which BoB car loan scheme has the lowest rate?
Digital Car Loan, from 7.85% a year (priced as BRLLR − 0.30% to + 0.60% + SP). Bank of Baroda publishes 2 car loan schemes we read; each has its own conditions, so check which you qualify for.
What is the BoB car loan interest rate?
As of 15 Nov 2026, Bank of Baroda publishes car loan rates of 7.85% to 13.65% a year (floating). The lowest, 7.85%, is for: New Car. The rate you are offered depends on your credit score, income and the loan amount.
What is the EMI on a ₹8 lakh car loan from BoB?
At BoB's lowest published rate of 7.85%, a ₹8 lakh car loan over 5 years costs about ₹16,164 a month, or ₹1,69,825 in interest over the loan. Charges and insurance are extra.
Are BoB loans linked to the repo rate?
Bank of Baroda's repo-linked lending rate (BRLLR) is 8.15% from 8 Oct 2026. Floating retail loans are priced from it, plus a spread fixed when you borrow.
What is BoB's MCLR?
Bank of Baroda's 1-year MCLR is 8.85%, effective 12 Nov 2026. Loans taken between 2016 and 2019 and many business loans are linked to it.
Is BoB cheaper than other banks for a car loan?
Of the 7 banks we read for car loans, BoB's lowest published rate (7.85%) ranks number 5; the lowest is 7.70% at Maharashtra. Compare the charges as well as the rate.
Does RateScan get paid by BoB?
No. We take no referral fees, show no ads and don't take loan applications. Every figure is read from the bank's own page, which is linked from every scheme.
More from BoB
Other banks
How we collect loan rates
From the bank's own pages. Every figure is read from the lending-rate page the bank publishes, and links back to it. Benchmarks are re-read every day.
A published rate is not an offer. Banks set your rate from your credit score, income, the loan amount and the property or vehicle. We show the range the bank publishes; "7.60% onwards" means the bank gave no top figure.
Benchmark plus spread. A floating loan's rate is the bank's benchmark (its repo-linked rate, or MCLR for older loans) plus a spread fixed when you borrow. When the benchmark moves, your rate moves with it at the next reset.
The EMI is worked out on a reducing balance with monthly instalments: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the yearly rate ÷ 12 and n the number of months. It leaves out processing charges and insurance.
No referral fees. We don't take loan applications or get paid by lenders, so the order is the order.
Independent. No referral fees. Official sources.
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