SBI vs Bank of Baroda Car Loan — Which is Better in 2026?
Last updated: April 6, 2026
SBI
8.70%
Interest rate p.a.
Bank of Baroda
8.60%
Interest rate p.a.
✓ Better dealSBI vs Bank of Baroda Car Loan — Detailed Comparison
| Feature | SBI | Bank of Baroda |
|---|---|---|
| Interest Rate | 8.70% | ✓8.60% |
| Processing Fee | 0.50% (max ₹15,000) | 0.50% + GST |
| Tenure | 1 – 7 years | 1 – 7 years |
| Eligibility | Salaried/self-employed, 21-67 yrs, min ₹2L/year income | Salaried/self-employed, 21-67 yrs, min ₹2L/year income |
Interest Rate
SBI
8.70%
Bank of Baroda
8.60%
Processing Fee
SBI
0.50% (max ₹15,000)
Bank of Baroda
0.50% + GST
Tenure
SBI
1 – 7 years
Bank of Baroda
1 – 7 years
Eligibility
SBI
Salaried/self-employed, 21-67 yrs, min ₹2L/year income
Bank of Baroda
Salaried/self-employed, 21-67 yrs, min ₹2L/year income
Verdict
Bank of Baroda offers a lower car loan rate (8.60%) vs SBI (8.70%). For new cars, OEM tie-ups (Maruti with SBI, Hyundai with HDFC) can offer 0% for short tenures. For used cars, rates are 2-3% higher. Always negotiate the on-road price separately from the loan to avoid hidden mark-ups.
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