Do I have an option to pre-close my Car Loan? And, what are the prepayment charges?
Yes, you can pre-close your Bank of Baroda Car Loan. There is no fee applicable if you close your loan account after 6 months of the disbursal.
Are there any additional charges if I get a Car Loan?
Yes, when you borrow a Car loan, some of the charges are levied to the borrower in order to avail the finance for Car loan, such as –
Document Verification/ vetting charges
Pre- Inspection (Contact Point Verification-CPV) charges
One time post inspection charges
Advocate charges for legal opinion
Valuer charges for valuation (One time at the time of sanction)
Bureau report charges
ITR Verification charges