If an applicant provides a minimum of 50% liquid security as collateral for the car loan, he or she may qualify for a lower interest rate. If the applicant currently has a home loan with the Bank of Baroda and has a solid repayment history, he or she can get an additional 0.25% discount on the auto loan interest rate. Please be aware that an 18% GST will be levied on all banking products and services beginning July 1, 2021.