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Bank of Baroda vs Tata Capital vs Union Bank of India: Vehicle Loan Comparison

By KhatuLoans Editorial Team, edited by Hemant Kumar · Figures checked · Information only, not a loan provider

On the car loan, Bank of Baroda and Union Bank of India starts lowest at 7.60%, compared with 9.49% at Tata Capital. A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 4 October 2026.

Bank of Baroda vs Tata Capital vs Union Bank of India at a glance

DetailBank of BarodaTata CapitalUnion Bank of India
Loan provider typePublic sector bankNBFCPublic sector bank
Legal nameBank of BarodaTata Capital LtdUnion Bank of India
Vehicle loans with a published rateCar loan, Two-wheeler loan, Used car loan, Electric car loan, Tractor loanCar loan, Two-wheeler loan, Used car loan, Commercial vehicle loanCar loan, Two-wheeler loan, Used car loan, Electric car loan
Car loan: published rateFloating 7.60% - 11.30%; fixed 8.50% - 11.20%From 9.49% p.a.7.60% - 10.00%
Car loan: maximum tenure84 months84 months (product page); rates page calculator shows 72 monthsNot published
Two-wheeler loan: published rateFloating from 13.60%; fixed from 13.65%From 12.5% p.a.11.10% - 11.20%
Two-wheeler loan: maximum tenure60 months60 monthsNot published
Used car loan: published rateFloating 10.20% - 12.95%; fixed 11.90% - 14.65%From 10.49% p.a.11.60% - 11.70%
Used car loan: maximum tenure60 months (vehicle age + tenure max 96 months)72 monthsNot published
Official websitebankofbaroda.bank.intatacapital.comunionbankofindia.bank.in

Bank of Baroda vs Tata Capital vs Union Bank of India car loan: rate, fees and tenure

Starting car loan rates as published: Bank of Baroda from 7.60%, Tata Capital from 9.49% and Union Bank of India from 7.60%. Bank of Baroda and Union Bank of India is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered.

DetailBank of BarodaTata CapitalUnion Bank of India
ProductBaroda Car LoanNew Car LoanUnion Miles (Union Vehicle Loan) - new 4-wheeler
Published rateFloating 7.60% - 11.30%; fixed 8.50% - 11.20%From 9.49% p.a.7.60% - 10.00%
Rate basisBRLLR-linked (floating) or fixedFixed and floating optionsEBLR-linked (EBLR 8.00% = repo 5.25% + 2.75%, w.e.f. 24.07.2026); by CIBIL score
Maximum tenure84 months84 months (product page); rates page calculator shows 72 monthsNot published
Maximum fundingUp to 90% of on-road price; up to Rs 300 lakh (individuals)Up to 100% on-road; loan up to Rs 5 croreNot published
Processing feeRs 1,500 + GST (up to Rs 10 lakh); Rs 2,000 + GST (above)Up to 2.95% of loan amountFlat ₹1,000
Pre-closure / prepaymentFloating: nil for individuals; fixed: nil up to Rs 40,000 within 2 years, else 2% + GST6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)No foreclosure/prepayment penalty on floating-rate individual loans
Other terms published
  • Interest on daily reducing balance
  • Rs 500 + GST fee for govt/PSU employees
  • bob Digital Car Loan online variant
  • Documentation charge up to Rs 1,999
  • No ceiling on loan amount
  • Minimum CIBIL 700 indicated
  • Sanction in about 2 business days
Official sourcebankofbaroda.bank.intatacapital.com
tatacapital.com
unionbankofindia.bank.in
unionbankofindia.bank.in
unionbankofindia.bank.in

EMI illustration: ₹10 lakh over 60 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Bank of Baroda7.60%₹20,086₹2,05,130₹12,05,130
Tata Capital9.49%₹20,997₹2,59,818₹12,59,818
Union Bank of India7.60%₹20,086₹2,05,130₹12,05,130

Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.

Monthly EMI at other loan amounts (60 months)

Loan amountBank of Baroda (7.60%)Tata Capital (9.49%)Union Bank of India (7.60%)
₹5 lakh₹10,043₹10,498₹10,043
₹10 lakh₹20,086₹20,997₹20,086
₹15 lakh₹30,128₹31,495₹30,128
₹20 lakh₹40,171₹41,994₹40,171

Read the full guide: Car loan · EMI calculator

Bank of Baroda vs Tata Capital vs Union Bank of India two-wheeler loan: rate, fees and tenure

Starting two-wheeler loan rates as published: Bank of Baroda from 13.60%, Tata Capital from 12.50% and Union Bank of India from 11.10%. Union Bank of India is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered.

DetailBank of BarodaTata CapitalUnion Bank of India
ProductBaroda Two Wheeler LoanTwo-Wheeler LoanUnion Miles - new 2-wheeler
Published rateFloating from 13.60%; fixed from 13.65%From 12.5% p.a.11.10% - 11.20%
Rate basisBRLLR-linked (floating) or 1-year MCLR (fixed)FixedEBLR-linked (EBLR 8.00%); by CIBIL score
Maximum tenure60 months60 monthsNot published
Maximum fundingUp to Rs 10 lakhUp to 100% for loans up to Rs 2.85 lakh; up to Rs 15 lakh for premium/superbikesNot published
Processing fee2% of loan (min Rs 250 + GST)Up to 4% + taxesFlat ₹500
Pre-closure / prepaymentFloating: nil; fixed: 2% + GST within 2 yearsForeclosure 5% of principal outstanding; part-prepayment 5% of amountNo foreclosure/prepayment penalty on floating-rate individual loans
Other terms published
  • Digital Two-Wheeler Loan variant
  • Bounce charge Rs 600
  • Penal charge 3% per month on overdue amount
  • Max loan ₹10 lakh
Official sourcebankofbaroda.bank.intatacapital.comunionbankofindia.bank.in
unionbankofindia.bank.in
unionbankofindia.bank.in

EMI illustration: ₹1 lakh over 36 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Bank of Baroda13.60%₹3,398₹22,341₹1,22,341
Tata Capital12.50%₹3,345₹20,433₹1,20,433
Union Bank of India11.10%₹3,279₹18,030₹1,18,030

Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.

Monthly EMI at other loan amounts (36 months)

Loan amountBank of Baroda (13.60%)Tata Capital (12.50%)Union Bank of India (11.10%)
₹0.5 lakh₹1,699₹1,673₹1,639
₹1 lakh₹3,398₹3,345₹3,279
₹1.5 lakh₹5,098₹5,018₹4,918

Read the full guide: Two-wheeler loan · EMI calculator

Bank of Baroda vs Tata Capital vs Union Bank of India used car loan: rate, fees and tenure

Starting used car loan rates as published: Bank of Baroda from 10.20%, Tata Capital from 10.49% and Union Bank of India from 11.60%. Bank of Baroda is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Tata Capital lists the longer maximum tenure (72 months).

DetailBank of BarodaTata CapitalUnion Bank of India
ProductBaroda Auto Loan for Pre-owned CarUsed Car LoanUnion Miles - old 4-wheeler
Published rateFloating 10.20% - 12.95%; fixed 11.90% - 14.65%From 10.49% p.a.11.60% - 11.70%
Rate basisBRLLR-linked (floating) or 1-year MCLR (fixed)Reducing balance; fixed EMIEBLR-linked (EBLR 8.00%); by CIBIL score
Maximum tenure60 months (vehicle age + tenure max 96 months)72 monthsNot published
Maximum fundingUp to 75% of market value; max Rs 50 lakhUp to 95% of car value (100% on select cars); loan up to Rs 50 lakhNot published
Processing fee0.50% of loan + GST (min Rs 2,500, max Rs 10,000)Up to 2.95% of loan amountFlat ₹1,000
Pre-closure / prepaymentFloating: nil; fixed: 2% + GST within 2 years above Rs 40,0006% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment)No foreclosure/prepayment penalty on floating-rate individual loans
Other terms publishedNot published
  • Car up to 10 years old at loan maturity
  • Valuation fee Rs 750
  • An older Tata Capital page states rates from 15%, 1.75% fee and 7%/6%/5% foreclosure; the rates-and-charges page is used here
  • Car not older than 3 years
  • Max loan ₹20 lakh
Official sourcebankofbaroda.bank.intatacapital.com
tatacapital.com
unionbankofindia.bank.in
unionbankofindia.bank.in
unionbankofindia.bank.in

EMI illustration: ₹5 lakh over 48 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Bank of Baroda10.20%₹12,729₹1,11,010₹6,11,010
Tata Capital10.49%₹12,799₹1,14,365₹6,14,365
Union Bank of India11.60%₹13,069₹1,27,309₹6,27,309

Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.

Monthly EMI at other loan amounts (48 months)

Loan amountBank of Baroda (10.20%)Tata Capital (10.49%)Union Bank of India (11.60%)
₹3 lakh₹7,638₹7,680₹7,841
₹5 lakh₹12,729₹12,799₹13,069
₹8 lakh₹20,367₹20,479₹20,910

Read the full guide: Used car loan · EMI calculator

Bank of Baroda vs Tata Capital vs Union Bank of India electric car loan: rate, fees and tenure

Starting electric car loan rates as published: Bank of Baroda from 7.60% and Union Bank of India from 7.50%. Union Bank of India is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Tata Capital does not publish an electric car loan rate on its website, so none is shown.

DetailBank of BarodaTata CapitalUnion Bank of India
Productbob Green WheelNot publishedUnion Green Miles - new 4-wheeler
Published rateFloating 7.60% - 11.15%; fixed 8.50% - 11.05%Not published7.50% - 9.90%
Rate basisBRLLR-linked (floating) or fixedNot publishedEBLR-linked (EBLR 8.00%); by CIBIL score
Maximum tenure84 months (96 months for salaried with CIBIL 726+)Not publishedNot published
Maximum fundingUp to 90%; max Rs 300 lakh (individuals)Not publishedNot published
Processing feeRs 750 + GST (up to Rs 10 lakh); Rs 1,000 + GST (above) - 50% concessionNot publishedNot published
Pre-closure / prepaymentFloating: nil for individuals; fixed: 2% + GST within 2 years above Rs 40,000Not publishedNot published
Other terms published
  • New electric cars for private use
  • 0.15% rate concession vs car loan
  • 50% processing fee concession
Not published
  • Green 2-wheeler variant also priced at 10.90% - 11.00%
Official sourcebankofbaroda.bank.inNot publishedunionbankofindia.bank.in
unionbankofindia.bank.in

EMI illustration: ₹15 lakh over 60 months

Loan providerRate usedMonthly EMITotal interestTotal repayable
Bank of Baroda7.60%₹30,128₹3,07,695₹18,07,695
Union Bank of India7.50%₹30,057₹3,03,415₹18,03,415

Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.

Monthly EMI at other loan amounts (60 months)

Loan amountBank of Baroda (7.60%)Union Bank of India (7.50%)
₹10 lakh₹20,086₹20,038
₹15 lakh₹30,128₹30,057
₹25 lakh₹50,214₹50,095

Read the full guide: Electric car loan

Bank of Baroda vs Tata Capital vs Union Bank of India tractor loan: rate, fees and tenure

Only Bank of Baroda publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Tata Capital and Union Bank of India do not publish a tractor loan rate on their website, so none is shown.

DetailBank of BarodaTata CapitalUnion Bank of India
ProductBank of Baroda New Scheme for TractorNot publishedFarm Mechanization Scheme
Published rate12.25% - 14.50%by LTVNot publishedNot published
Rate basisFixedNot publishedNot published
Maximum tenure72 months (60 months for Tatkal)Not publishedNot published
Maximum fundingUp to 85% LTV (agri use); 80% agri-commercial; 70% TatkalNot published85% of unit cost (15% margin)
Processing fee1% of loan amountNot publishedNot published
Other terms published
  • No minimum land holding for Tatkal Tractor Loan
  • Monthly/quarterly/half-yearly repayment
Not published
  • New and second-hand tractors/harvesters
  • For farmers with own agricultural land
Official sourcebankofbaroda.bank.inNot publishedunionbankofindia.bank.in

Read the full guide: Tractor loan

Bank of Baroda vs Tata Capital vs Union Bank of India commercial vehicle loan: rate, fees and tenure

Only Tata Capital publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bank of Baroda and Union Bank of India do not publish a commercial vehicle loan rate on their website, so none is shown.

DetailBank of BarodaTata CapitalUnion Bank of India
ProductNot publishedCommercial Vehicle Loan (new and used)Union Parivahan
Published rateNot publishedFrom 12% p.a.page meta descriptionNot published
Maximum tenureNot publishedIMHCV up to 72 months; SLCV and buses up to 60 monthsNot published
Maximum fundingNot publishedIMHCV up to 100% of ex-showroom; SLCV up to 94% of on-road; buses up to 100% of on-roadNot published
Processing feeNot publishedAs per sanction letterNot published
Pre-closure / prepaymentNot published4% of outstanding or Rs 5,000, whichever higher (excl. GST), with 30 days noticeNot published
Other terms publishedNot published
  • Trucks, buses, tippers, pickups, special-application vehicles
  • Body funding available
  • Used CV refinance, top-up and balance transfer
  • Term loan for transport operators to buy brand-new vehicles
  • Max loan ₹5 crore
Official sourceNot publishedtatacapital.com
tatacapital.com
unionbankofindia.bank.in

Read the full guide: Commercial vehicle loan

Which is better: Bank of Baroda, Tata Capital or Union Bank of India?

No loan provider is best for everyone. This is how the published figures split, product by product.

  • Car loan, lower starting rate: Bank of Baroda and Union Bank of India (7.60%) versus 9.49% at Tata Capital.
  • Two-wheeler loan, lower starting rate: Union Bank of India (11.10%) versus 13.60% at Bank of Baroda and 12.50% at Tata Capital.
  • Used car loan, lower starting rate: Bank of Baroda (10.20%) versus 10.49% at Tata Capital and 11.60% at Union Bank of India.
  • Used car loan, longer maximum tenure: Tata Capital (72 months). A longer tenure lowers the EMI but raises total interest.

Pick on total cost, not the headline rate: ask each loan provider for the Key Fact Statement and compare the APR and total repayable amount. A low rate with a high processing fee can cost more than a slightly higher rate with no fee.

Bank type and how each loan provider sets its rate

Bank of Baroda and Union Bank of India are public sector banks and Tata Capital is a nbfc.

What the loan providers' own pages say about how their rates are set:

  • Bank of Baroda car loan: BRLLR-linked (floating) or fixed.
  • Bank of Baroda two-wheeler loan: BRLLR-linked (floating) or 1-year MCLR (fixed).
  • Bank of Baroda used car loan: BRLLR-linked (floating) or 1-year MCLR (fixed).
  • Bank of Baroda electric car loan: BRLLR-linked (floating) or fixed.
  • Bank of Baroda tractor loan: Fixed.
  • Tata Capital car loan: Fixed and floating options.
  • Tata Capital two-wheeler loan: Fixed.
  • Tata Capital used car loan: Reducing balance; fixed EMI.

Banks and non-banking finance companies (NBFCs) publish rates in different ways: some give a range, some only a starting rate and some only a maximum. That is why this page compares like with like and marks every gap as not published instead of guessing.

About Bank of Baroda, Tata Capital and Union Bank of India

Bank of Baroda

Public sector bank

Public sector bank offering both fixed and BRLLR-linked floating vehicle loans, with a dedicated EV car loan (bob Green Wheel) and agri tractor schemes.

Lowest published starting rate: 7.60% (Car loan)

Tata Capital

NBFC · Tata Capital Ltd

Tata Group's diversified NBFC; absorbed Tata Motors Finance (CV/PV financier for Tata Motors) in May 2025

Lowest published starting rate: 9.49% (Car loan)

Union Bank of India

Public sector bank

PSU loan provider whose Union Miles scheme covers new cars, cars up to 3 years old and new two-wheelers, priced off its repo-linked EBLR by CIBIL score, with a cheaper Green Miles variant for EVs.

Lowest published starting rate: 7.50% (Electric car loan)

What to check before you choose a vehicle loan

  1. Ask for the Key Fact Statement (KFS). RBI requires loan providers to give you one before you sign, showing the interest rate, all fees, the APR and the total amount you will repay.
  2. Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
  3. Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
  4. Check what is bundled. Insurance, extended warranty or accessories added to the loan raise the amount you pay interest on. You are free to buy insurance elsewhere.
  5. Confirm the hypothecation. The loan provider's name is noted on the registration certificate. After the last EMI, collect the NOC and have it removed at the RTO.

Terms used on this page

Plain meanings of the terms this comparison uses.

Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.

APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.

Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.

Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.

Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.

Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.

Sources, method and last check

Every figure above comes from the loan provider's own website. We checked them on 4 October 2026 and list the pages used.

Method: we list only figures we could find on the loan provider's official pages. A blank means the loan provider does not publish that figure, and we never estimate one. Rankings use the published starting rate and published maximum tenure only. Read our editorial policy, how we make money and tell us about an error.

More loan provider comparisons

Bank of Baroda compared with other loan providers

Tata Capital compared with other loan providers

Union Bank of India compared with other loan providers

Head-to-head pages for these three loan providers

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Bank of Baroda vs Tata Capital vs Union Bank of India: personal, home and other loans

Comparing these loan providers for something other than a vehicle loan? See their published personal loan, home loan, loan against property, business, gold and education loan terms in one place.

Bank of Baroda vs Tata Capital vs Union Bank of India compared on all loan types

Frequently asked questions

Which is better for a car loan: Bank of Baroda, Tata Capital or Union Bank of India?

On the car loan, Bank of Baroda and Union Bank of India starts lowest at 7.60%, compared with 9.49% at Tata Capital. A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 4 October 2026. The better choice depends on your profile, the loan amount and the fees in your offer letter.

Which has the lower car loan interest rate: Bank of Baroda, Tata Capital or Union Bank of India?

Bank of Baroda and Union Bank of India has the lower published starting rate. Published starting rates: Bank of Baroda 7.60%, Tata Capital 9.49% and Union Bank of India 7.60% (checked 4 October 2026). Your actual rate depends on your credit profile and the loan provider's approval.

What is the processing fee on a car loan at Bank of Baroda, Tata Capital and Union Bank of India?

Bank of Baroda: Rs 1,500 + GST (up to Rs 10 lakh); Rs 2,000 + GST (above). Tata Capital: Up to 2.95% of loan amount. Union Bank of India: Flat ₹1,000. Fees can change and GST is usually extra, so check the Key Fact Statement.

What is the maximum car loan tenure at Bank of Baroda, Tata Capital and Union Bank of India?

Bank of Baroda: 84 months. Tata Capital: 84 months (product page); rates page calculator shows 72 months. Union Bank of India: not published.

What is the EMI on a ₹10 lakh car loan at Bank of Baroda, Tata Capital and Union Bank of India?

Over 60 months at each loan provider's lowest published rate: Bank of Baroda about ₹20,086 a month at 7.60%; Tata Capital about ₹20,997 a month at 9.49%; Union Bank of India about ₹20,086 a month at 7.60%. This is an illustration that leaves out fees, GST and insurance. Your offered rate may be higher.

How much of the vehicle price can I borrow on a car loan from Bank of Baroda, Tata Capital and Union Bank of India?

Bank of Baroda: Up to 90% of on-road price; up to Rs 300 lakh (individuals). Tata Capital: Up to 100% on-road; loan up to Rs 5 crore. Union Bank of India: not published. Funding is usually profile-based, so the loan provider decides the final amount.

What other terms do Bank of Baroda, Tata Capital and Union Bank of India publish for a car loan?

Bank of Baroda: Interest on daily reducing balance; Rs 500 + GST fee for govt/PSU employees; bob Digital Car Loan online variant. Tata Capital: Documentation charge up to Rs 1,999. Union Bank of India: No ceiling on loan amount; Minimum CIBIL 700 indicated; Sanction in about 2 business days. Check each loan provider's page for eligibility and documents before you apply.

Can I prepay or foreclose a car loan early at Bank of Baroda, Tata Capital and Union Bank of India?

Bank of Baroda: Floating: nil for individuals; fixed: nil up to Rs 40,000 within 2 years, else 2% + GST. Tata Capital: 6% of principal outstanding within 12 months; 5% after 12 months (same for part-prepayment). Union Bank of India: No foreclosure/prepayment penalty on floating-rate individual loans. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.

Which vehicle loans do Bank of Baroda, Tata Capital and Union Bank of India publish rates for?

Bank of Baroda: car loan, two-wheeler loan, used car loan, electric car loan, tractor loan. Tata Capital: car loan, two-wheeler loan, used car loan, commercial vehicle loan. Union Bank of India: car loan, two-wheeler loan, used car loan, electric car loan. Based on each loan provider's own website, checked 4 October 2026.

Are the rates on this page the rate I will get?

No. They are the rates the loan providers publish, usually a range or a starting rate. Your approved rate depends on your credit score, income, loan amount, tenure and vehicle. Always read the Key Fact Statement before you sign.

Does KhatuLoans lend money or charge for this comparison?

KhatuLoans is not a loan provider. The loan provider decides approval, rate and terms. Our comparisons are free to read, and we are not paid by the loan providers named here to rank them. See how we make money on our advertiser disclosure page.

KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and prices change; always confirm with the loan provider and dealer. Read our editorial policy and how we make money.