Mumbai: Bank of Baroda (BoB) one of the top public sector banks in India has decided to offer a discount on car loans from November, 1. Car loans from BoB will now be available at 100 basis points reduced rates. This will help new customers to get a car loan from BoB at 11.5 percent per annum on floating basis.

BoB is also celebrating the Centenary Retail Loan Festival and anyone who takes a car loan during this festival will get an additional discount of 25 basis point. This offer will certainly bring more cheers to the festive season.

BoB offers car loans under its Baroda Car Loan scheme, which is especially designed  finance a car that suits the customers need. One unique feature of Baroda Car Loan is that it  also presents an add on facility for installation of CNG-LPG gas-kit in new or old (not more than 5 years) four wheeler. BoB offers a car loan of up to Rs 15 Lakhs for any car model (Inclusive of Gas-Kit). Loans can be availed for new and second-hand vehicles (Not more than 3 years old). Baroda Car Loan have low interest rates and  repayment tenures up to 7 years.

BoB had earlier reduced its home loan rates as festive offer and is also planning to introduce a reverse mortgage scheme for senior citizens.