Bank of Baroda Cuts Home Loan Interest Rate to 7.45%
Bank of Baroda (BoB) has announced a further reduction in its home loan interest rates, bringing the new starting rate down to 7.45% from 7.50%, effective immediately. The public sector lender has also waived the processing fee, making it more attractive for new home buyers and those looking to refinance.
This rate revision follows BoB’s earlier move last month, when it lowered home loan rates from 8.00% to 7.50% in response to the Reserve Bank of India’s recent monetary policy stance that hinted at rate easing.
Also Read:- Bank of Baroda Lowers Lending Rate by 50 Basis Points After RBI Repo Cut
Sanjay Mudaliar, Executive Director at Bank of Baroda, said, “This latest reduction in our home loan interest rates is aimed at supporting the aspirations of citizens and stimulating credit growth.”
He added that the bank’s lending approach continues to evolve with the monetary policy environment to ensure that the benefits of lower rates are effectively passed on to borrowers. The move also aligns with broader economic goals of increasing credit flow to the housing sector and reviving consumer demand.
Bank of Baroda’s revised home loan scheme is available across its branches and digital platforms, and is expected to drive competitive pressure among peers in the retail lending market.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
