Bank of Baroda cuts home loan interest rates by 25 bps to 6.50%
Bank of Baroda has cut its home loan rates from 6.75 percent to 6.50 percent to gain from the festive season and increased demand for housing
October 07, 2021 / 02:44 PM IST
State-owned public sector bank, Bank of Baroda on October 7 announced a 25 basis points (bps) cut in its home loan rates to 6.50 percent with immediate effect.
The bank said the revised rates will be applicable till December 31 to make homebuying more affordable for customers through the festive season.
The new rates will be available to customers applying for fresh loans, loan transfers or looking to refinance their existing loans by making the offer more inclusive, the bank said in a release. The bank has also extended the recently-announced zero processing fee on home loans till December 31.
HT Solanki, GM- Mortgages & Other Retail Assets at Bank of Baroda said: “Bank always tries to offer the most competitive rates of interest on home loan and other retail loan products while making the process seamless and hassle-free through our digital platforms and our dedicated teams."
Our customers will benefit from this offering in this festive season. With this reduced rate of interest, Bank of Baroda home loans are now available at the most competitive rates across categories for a limited period till December 31, Solanki added.
Also Read: Banks rush to slash home loan rates to woo home buyers