Business Daily from THE HINDU group of publications
Sunday, Oct 14, 2007
ePaper
Business Daily from THE HINDU group of publications Sunday, Oct 14, 2007 ePaper |
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Money & Banking
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Housing Finance Bank of Baroda cuts home loan rates 
Our Bureau Mumbai, Oct. 13 Bank of Baroda reduced the rate of interest on home loans between 25-50 basis points for the second time in less than two months. The bank had earlier cut rates up to 50 basis points on August 31, 2007. A senior official of the bank said this was not a festive officer, but a conscious effort to bring the rates in line with market expectations. Bank of Baroda’s rates are now on par with those of State Bank of India but lower than those of ICICI Bank, the two largest players in the home loan market that also reduced their home loan rates by 50 basis points recently. The new rates would be effective from October 25 and are applicable only on new loans. The bank earlier had five different time buckets for home loans, which it has now reduced to three, the official added. More Stories on : Housing Finance | Interest Rates | Public Sector Banks
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