Bank of India Car Loan in Chennai-EMI Calculator-Wishfin

Bank of India Car Loan in Chennai

About Bank of India Car Loan Chennai

Chennai is one of the picturesque cities of India with a spectacular scenery of artifacts and seawater that have a refreshing feel every time you come down here. But the residents of Chennai also like to drive a car on the city roads and look for a lender that can provide a custom loan featuring attractive interest rates. There is one bank that can do the same, and the name is Bank of India, a leading public sector bank involved in converting the car dream into reality with a car loan.

Bank of India Car Loan Chennai at a Glance

Interest Rate6.85% onwards
Loan AmountMaximum Loan Amount : ₹ 50,00,000 for Resident Indian(individuals) &₹ 100,000 for corporates for Resident Indian; ₹ 50,00,000 for Non-Resident Indians
Loan TenureUpto 7 Years for New Cars & upto 3 years for pre-owned cars
Processing FeeNIL
Prepayment ChargesNew Cars: ₹ 500 per application irrespective of the limit

Pre-owned cars: 1% of loan amount minimum ₹500/- and Max ₹10,000/

Eligibility Criteria

  • Salaried employees working in both public and private firms are a welcome at Bank of India for Car Loan.  Also eligible are Non-resident Indians (NRIs), self-employed and professionals.
  • Companies, Partnership Firms, Sole Proprietorship Firms and Hindu Undivided Families are prohibited from applying for a car loan at BOI.


A list of documents is needed to avail BOI Car Loan in Chennai. Interested to know which are the documents being asked to submit?

  • Identity Proof- PAN Card/Passport/Voter ID/Aadhaar card
  • Address Proof-Utility Bill/Passport/Voter ID/Aadhaar Card
  • Signature Verification Proof-PAN Card/Passport/Driving License
  • Income Proof-Last 3 Month Salary Slips, Form 16 for Last 2 Years, Last 6-month Bank Statement (For Salaried), ITR, Audited Balance Sheet and Profit & Loss Account Statement for the Last 3 Years (Self-Employed)
  • RTO Copy
  • Processing Fee Cheque
  • A Duly Filled Application Form

For more information, visit Car Loan Chennai

Bank of India Car Loan Chennai Branches

You can find a decent number of branches of Bank of India in Chennai. If you are not aware of their locations in the city, the table below will do the needful. The table also contains key information such as IFSC Code, MICR Code, etc.

Branch NameComplete AddressIFSCMICR Contact Detail
Chennai MainChennai Main, 17 Errabalu Chetty Str, Chennai, Chennai, Tamil Nadu, Pin- 600001BKID0008000600013009
Mount RoadMount Road, 175/1 Anna Salai, Pb 2703 Chennai, Chennai, Tamil Nadu, Pin- 600002BKID0008001600013010044-28520248, 28520565
MylaporeMylapore, 174, Luz Church Road, Mylapore, Chennai, Tamil Nadu, Pin- 600004BKID0008002600013011044-24991369, 24992622
SowcarpetSowcarpet, 59 Devaraja Mudaliar R, Sowcarpet, Chennai, Tamil Nadu, Pin- 600003BKID0008003600013018044-25352381, 25354008
TheagaroyanagarT Nagar, 104 Sir Theagaroya Road, T.Nagar, Chennai, Tamil Nadu, Pin- 60017BKID0008004600013014044-28150249, 28150774
RoyapettahRoyapettah, 183, Royapettah High R, Royapettah, , Chennai, Tamil Nadu, Pin- 600014BKID0008005600013013044-28132952, 24816339
ThousandlightThousandlight, 406 Llyods Road, Gopalapuram Post, Chennai, Tamil Nadu, Pin- 600086BKID0008006600013015044-28350066, 28350076
PurasawalkamPurasawalkam, Palace Regency Ist Fl, 80 - 93 Puraswalkam Road, Chennai, Tamil Nadu, Pin- 600010BKID0008007600013012044-26404545, 26421219
EgmoreEgmore, 15/16 Casa Major Road, Egmore, Chennai, Tamil Nadu, Pin- 600008BKID0008009600013004
AdayarAdayar, 33/3 1St Main Road, Gandhi Nagar, Chennai, Tamil Nadu, Pin- 600020BKID0008010600013002044-24412719, 24425884
GuindyGuindy, Spic Centre, 44 - A Mount Road Guindy, Chennai, Tamil Nadu, Pin- 600032BKID0008011600013005044-22350638, 22352453
Cathedral RoadCathedral Road, Garuda Building, 46, Cathedral Road, Chennai, Tamil Nadu, Pin- 600086
BKID0008012600013003044-28112369, 28112567
K.K.NagarK.K.Nagar, 455, Rk Shanmugam Road, K.K.Nagar, Chennai, Tamil Nadu, Pin- 600078BKID0008013600013006044-24713529, 28470847
KodambakkamKodambakkam, 12 Puliyur Ii Main Roa, Major Trust Puram, Chennai, Tamil Nadu, Pin- 600024BKID0008014600013007044-24727657, 24831371

Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%