Bank of Baroda reduces home loan interest rate by 40 basis points.

9 Mar 2023 , 03:18 AM

Bank of Baroda has announced a 40-basis points (bps) reduction in home loan interest rates. 

Furthermore, the bank has reduced the interest rate on MSME loans starting at 8.40%* p.a. Both offers are effective from March 5, 2023, and are valid for a limited time until March 31, 2023.

This is one of the lowest and most competitive interest rates in the industry. In addition to lower interest rates, the bank is waiving 100% of processing charges on home loans and 50% of processing charges on MSME loans.

Borrowers applying for new home loans, balance transfers, or home improvement loans can take advantage of a new home loan rate starting at 8.50%* p.a. The rate is determined by the borrower’s credit score.

Bank of Baroda has also simplified the application process for a Home Loan. Customers can apply for and receive approval for a home loan digitally in as little as 30-minutes* by logging into the bob World mobile banking app or visiting the Bank’s website.

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