Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Vehicle financeFinance is available for new two-wheelers, four-wheelers and water vehicles, and eligible used two- or four-wheelers not more than 3 years old.View source
The official feature list describes new vehicle categories and the three-year used-vehicle condition.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Features / Advantages
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum financeUp to 90% of the cost for a new vehicle and up to 70% for an old vehicle. No third-party guarantee is required up to ₹50 lakh under the stated condition.View source
The official page publishes 90% new-vehicle and 70% old-vehicle finance and the ₹50 lakh guarantee condition.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Features / Advantages
- Accessed
- 30 Aug 2026
- Confidence
- high
Interest rateStarts from 7.60% p.a.; linked to CIBIL score and calculated on a daily reducing balance.View source
The official rate section states starting from 7.60%, linkage and daily reducing-balance calculation.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Rate of Interest & Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum tenureTwo-wheelers: up to 60 months. Four-wheelers and water vehicles: up to 84 months.View source
The page publishes separate maximum tenures for two-wheelers and four-wheelers/water vehicles.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Features
- Accessed
- 30 Aug 2026
- Confidence
- high
Processing feeNew four-wheelers: 0.25%, minimum ₹2,500 and maximum ₹10,000. Two-wheelers and old vehicles: 1.00%, minimum ₹1,000 and maximum ₹5,000. E-vehicles receive a 50% processing-fee concession.View source
The charges section publishes the new four-wheeler and two-wheeler/old-vehicle tiers and the e-vehicle concession.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Rate of Interest & Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
PrepaymentNo prepayment penalty is published for this product.View source
The official advantages list says there is no prepayment penalty.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Advantages
- Accessed
- 30 Aug 2026
- Confidence
- high
EligibilitySalaried employees, businessmen, professionals, farmers, directors, proprietors, partners, NRIs and PIOs are listed. Individual entry age is 18–65 years. Other entities must meet the published four-times average annual cash-accrual and minimum DSCR 1.25 rule.View source
The eligibility section lists individual borrower classes, entry age and the entity cash-accrual/ rule.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Eligibility
- Accessed
- 30 Aug 2026
- Confidence
- high
Minimum incomeNo fixed individual salary or annual-income amount is published. The page requires salary slips/ITR or self-employed financial statements; sanction depends on repayment capacity and credit assessment.View source
The reviewed individual page lists proof requirements but no fixed individual income floor.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Eligibility / Documents
- Accessed
- 30 Aug 2026
- Confidence
- high
APRNo separate APR figure or APR methodology is published; the page publishes the starting interest rate and processing-charge tiers only.View source
The reviewed rate section gives and charges but no calculation.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Rate of Interest & Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
TenureTwo-wheelers: up to 60 months. Four-wheelers and water vehicles: up to 84 months.View source
The page publishes separate maximum tenures for two-wheelers and four-wheelers/water vehicles. This is the issuer-published maximumTenure value shown under the comparison field “Tenure”.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Features — comparison field: Tenure
- Accessed
- 30 Aug 2026
- Confidence
- high
Pricing basisThe published starting rate is linked to the borrower’s CIBIL score and calculated on a daily reducing balance. No separate named benchmark is published on the reviewed page.View source
The official rate section links to score and daily reducing balance, but does not name an , repo or other benchmark.
- Source
- Star Vehicle Loan for Individuals — Bank of India
- Page / section
- Rate of Interest & Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
Benefits and features
- Up to 90% new-vehicle finance
- No third-party guarantee up to ₹50 lakh under stated terms
- No prepayment penalty published
Eligibility
- Individual entry age 18–65 years.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Salary slips/ or self-employed financial statements, and vehicle documents as required by the Bank.
Related official documents
Star Vehicle Loan for Individuals — official product pageofficial-product-page · current · accessed 30 Aug 2026
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