|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|BOI Star Vehicle Loan||9.30-9.90%, Fixed||500+ applicable charges||50,00,000||7 Years|
Q: Does Bank of India offers concession on processing charges?
A: BOI offers concessions on processing charges.The fees are waived for the following borrowers.
Q: What is the maximum loan amount that a borrower can take from Bank of India for Car Loan?
A: The maximum loan quantum set by Bank of India are given below:
Q: Can I finance a car that I have already purchased?
A: Yes, Bank of India will provide reimbursement for the car you purchased using your own source of finance. You can pay back the reimbursement with easy instalments as per the terms and interest rate set by the Bank of India Car Loan Scheme.
Q: Can a borrower avail a loan to finance a pre-owned car?
A: Yes, Bank of India provides car loan for pre-owned cars but the car should not be more than 3 years old from the time of registration.
Q: Does the Bank of India charge any penalties for late payments of car loan?
A. Bank of India has not specified any penalty fees for late payments. You can ask all the details from the bank representative at the time of availing car loan.