Bank of Baroda reduces home loan interest rate to 8%

Sanjay Mudaliar, executive director, BoB, said, “The new reduced home loan rates will further make home ownership more affordable.”
| Photo Credit: AMAN RAJ

Bank of Baroda (BoB) has announced a reduction in its home loan interest rates from 8.4% earlier to 8% p.a. “The rates are applicable on fresh home loans and home improvement loans. The rate is applicable on loans of 15 lakh and above and is linked to a borrower’s credit score. The Bank had already passed on the Repo rate reduction benefits to its existing borrowers with loans linked to Repo rate,” the bank said in a statement.

Further, the bank is offering a concession of 0.05% p.a. for women borrowers and 0.10% p.a. for borrowers below 40 years of age, on ready properties, shifting of home loans.

Sanjay Mudaliar, executive director, BoB, said, “The new reduced home loan rates will further make home ownership more affordable.”