Bank of India Cuts Auto Loans to 8.30% PA

With cars now considered a necessity rather than a luxury, Bank of India’s Star Vehicle Loan Scheme offers an attractive loan for purchase a four-wheeler (old or new) with an initial interest rate of 8.30% per annum. The loan will have zero processing charges up to 31 December 2022.

Individuals and corporate entities can avail of this loan with a flexible repayment period of up to 84 months. The Star Vehicle Loan EMI begins at as low as Rs.1, 574 per lakh, which helps ease the financial burden on borrowers.

To encourage the use of electric vehicles, Bank of India is also offering 100% financing against on-road price of Tata Naxon/Punch /All EV’s Variants and Mahindra and Mahindra XUV700 and all EV’s variants.

Given Bank of India’s transparent policies, all rates and charges are disclosed upfront without hidden charges.

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