Money & Banking

BoB pares home loan rate by 25 bps

Our Bureau Mumbai | Updated on October 07, 2021

This special rate is valid till December 31 and is available for customers applying for fresh loans and those seeking loan transfer

Bank of Baroda (BoB) has announced a 25 basis points reduction in its home loan interest rates, with the minimum rate now starting at 6.50 per cent against 6.75 per cent earlier.

This special rate, which is effective from October 7, 2021, till December 31, 2021, is available for customers applying for fresh loans and those seeking loan transfer or refinancing their existing loans.

The public sector bank, in a statement, said it has reduced the home loan interest rate with the onset of festive season and to make home buying more affordable for customers.

“Nil processing fee on home loan was already on offer and has been extended till December-end 2021,” the Bank said.

HT Solanki, GM- Mortgages & Other Retail Assets, BoB, said with this reduced rate of interest, BoB’s home loans are now available at competitive rates across categories for a limited period.

Published on October 07, 2021

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