Bank of India
Bank of India Star Vehicle Loan
Data Verified
Last checked: 25 Feb 2026Best for value-conscious buyers who want a low rate with zero prepayment penalties.
Low-interest vehicle loans with zero hidden charges for purchasing four-wheelers and two-wheelers for personal or business use.
Lowest PSU RateMinimal Processing FeeNo Prepayment PenaltyTwo-wheeler OptionQuick Processing
Interest Rate
8.25%
Starts From p.a.
Max Tenure
7 Yrs
84 Months
Loan Amount
to
Up to ₹5 Crore
Expert Verdict
"Bank of India offers an unbeatable 8.25% rate with almost zero processing fee during campaign periods. Being a PSU, they don't charge for prepayment, giving you total freedom. The paperwork is standard. Verdict: Best for absolute cost savings over the loan term."
Key Privileges
EligibilityAge 18-70, Stable income
Processing FeeNil (Special Promo) or up to ₹1,000
PrepaymentNil
Lock-inNone
DocumentationIdentity/Address proof, Income papers, Vehicle quotation
Start Application
Applying takes less than 5 minutes. You will need your PAN card and Aadhaar details handy.
Simplified Digital KYC
Instant Approval Check
Zero Physical Documentations
By clicking apply, you will be redirected to the official bank portal. FinanceMacha may earn a commission on successful approvals.
Eligibility Summary
- Min. Credit Score700+
- Min. Income₹2.5 lakh per annum
- EmploymentSalaried/Self