Bank of Baroda EV Loan (2W + 4W)

Bank of Baroda, established in 1908 and headquartered in Vadodara, offers this electric vehicle loan at a floating interest rate of 7.6% to 11.15%, financing up to 90% of the on-road price, for loan amounts up to ₹3 crore over tenures of 37 to 84 months. The bank states a processing fee of ₹750 to ₹1,000 and a prepayment penalty of 2%.

This EV rate already carries a 0.15% concession versus the bank's standard car loan, with a further 0.25% reduction for existing home-loan customers and a 0.50% reduction where 50% liquid collateral is offered; tenure can be extended to 96 months for salaried applicants with a CIBIL score of 726 or above, and a 50% processing-fee concession is available. A fixed-rate variant is also disclosed on the same page at 8.50% to 11.05%. Minimum loan amount, applicant age, minimum salary, employment type, and documentation requirements are not published for this product.