Bank of Baroda has reduced the home loan interest rate from 6.75 per cent per annum to 6.50 per cent per annum for a limited time.
Public sector Bank of Baroda has announced to cut interest rates on car loans. The bank has reduced the interest rate on car loans by 0.25 percent to 7 percent. Till now the bank used to give car loan at an interest of 7.25 per cent per annum.
This offer is for a limited time, in
fact, this offer is being given to new customers buying the car for a limited period only. If you are also planning to buy a car, then you can take advantage of this offer of the bank. This special rate of car loan is only till June 30, 2022. However, there has been no change in the interest rates on old ie second hand cars and two-wheeler loans.
The bank said in a statement on Monday that in addition to the interest rate cut, it has also reduced the loan processing charge
to Rs 1,500 (inclusive of GST) by June 30. The special thing is that the interest rate will be linked to the ‘credit profile’ of the customer.
Talking to PTI, HT Solanki, general manager (mortgage and other retail assets) of the bank said, “With the reduction in the interest rate and processing charge on car loans, it will now be more affordable for customers to buy a vehicle of their choice.”
Recently Bank of Baroda had reduced home loan interest rates
Last month Bank of Baroda had announced to reduce interest rates on home loans. The bank is now offering home loans at 6.5 per cent per annum interest instead of 6.75 per cent. The new rate has come into effect from April 22. This special rate of home loan is only till June 30, 2022.
