Bank of India Car Loan in Mumbai

About Bank of India Car Loan Mumbai

A major public sector bank with a total branch count of over 5,000 is just the friend you need for realizing a car dream. And who is that friend? Any guesses? It’s Bank of India (BOI), which offers an attractive car loan to let you ride by taking a care of your wallet. It becomes easy to apply for Bank of India Car Loan if you live in Mumbai, the city that runs 24×7. The reason being a huge branch count in the city. Let’s find more about BOI Car Loan here.

Bank of India Car Loan Mumbai 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.


Don’t know the documents you need to apply for a car loan at BOI in Mumbai? The documents include proofs for identity, income, residence, among others. Know all the documents in the points below.

  • 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 Mumbai

Bank of India Car Loan Mumbai Branches

Want to visit the nearest BOI Branch in Mumbai? Find that out from the list below. The list also contains information pertaining to the branch address, IFSC Code, and MICR Code, etc.

Branch NameComplete AddressIFSCMICRContact Detail
Mumbai MainMumbai Main, 70/80, M.G. Road, P.B. No. 238, Mumbai, Mumbai-400023, MaharashtraBKID0000001400013087022-22624925, 22624926
Andheri WestAndheri West, 28 S.V Raod, Pb 7358 Andheri West, Mumbai- 400058, MaharashtraBKID0000002400013003022-26280209, 26280219
Ballard EstateBallard Estate, Darabshaw House, Narottam Morarji Marg, Mumbai- 400021, MaharashtraBKID0000003400013008022-22612400, 22691218
Ramdas Nayak MargRamdas Nayak Marg (Hill Road), 56 Hill Road, Bandra, Mumbai- 400050, MaharashtraBKID0000004400013026
Mumbai CentralMumbai Central, Sahkti Sadan C Blk, Dr Dada Saheb Bhadaka, Mumbai- 400007, MaharashtraBKID0000005400013005022-23074474, 23097442
Borivali WestBorivali West, Mangal Kunj, S.V.Road, Mumbai- 400092, MaharashtraBKID0000006400013007
Breach CandyBreach Candy, Sky Scraper A, 4/697, Bhulabhai Desai, Mumbai- 400026, MaharashtraBKID0000007400013009022-23678907, 23688526
Bullion ExchangeBullion Exchange, 185, Sheikh Memon Street, Post Box No. 2313, , Mumbai-400002, MaharashtraBULLION EXCHANGE400013011022-23429825, 23428841
ChemburChembur, Near Chembur Naka, Post Bag - 7207, Mumbai-400071, MaharashtraBKID0000009022-25221865, 25225302022-25221865, 25225302
ChurchgateChurchgate, Eros Theatre Building, Jamshedji Tata Road, Mumbai-400020, MaharashtraBKID0000010400013014022-22838136, 22884868
C P TankC P Tank, Chandaramji Girls High, School Bldg C P Tank, Mumbai-400004, MaharashtraBKID0000012400013013022-23812317, 23885257
Cumbala HillCumbala Hill, Dell Star Ns Patkar Ma, Hughes Road, Mumbai-400026, MaharashtraBKID0000013400013015022-23803628, 23803972
Dadar (West)Dadar (West), 61 Gokhale Rd North, Nr. Portugues. Church, Mumbai- 400028, MaharashtraBKID0000015400013019022-24221895, 24221267
Ghatkopar EastGhatkopar East, Kiran Niketan, Tilak Road, Ghatkopar, Mumbai-400077, MaharashtraBKID0000019400013067022-25021428, 25021462
Goregaon WestGoregaon West, Patkar College Bldgs, S.V.Road, Goregaon., Mumbai-400062, MaharashtraBKID0000022400013022
Gandhi MarketGandhi Market, 96 Sion Matunga Estat, Matunga, Mumbai-400022, MaharashtraBKID0000018400013066022-24094734, 24095435
Grant RoadGrant Road, Alankar Build, Balaram Road, Mumbai-400007, MaharashtraBKID0000023400013023
KalbadeviKalbadevi, Round Building, Shamaldas Gandhi Marg, Mumbai-400002, MaharashtraBKID0000024400013030
KharKhar, 531, Linking Road Near, National College, Khar, Mumbai(Bombay), India, 400052, MaharashtraBKID0000026400013031

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%