Bank of Baroda reduces repo-linked rates by 10 bps, makes loans cheaper
With this revision in Baroda Repo Linked Lending Rate, the lender is offering home loans at a rate starting from 6.75% and car loans beginning from 7%
At BoB, a regular depositor below 60 years of age gets 5.25% interest on FD of 5-10 years. Whereas, senior citizens are being offered 6.25% interest under this special FD scheme.
Mumbai: State-run Bank of Baroda announced a 10 basis points reduction in its repo-linked lending rate from 6.85% to 6.75%, effective from March 15.
With this revision in Baroda Repo Linked Lending Rate (BRLLR), the lender is offering home loans at a rate starting from 6.75% and car loans beginning from 7%.
Mortgage loan rates will start at 7.95% and education loans at 6.75%, the bank said in a statement.
“This reduction in BRLLR makes our loans more affordable for customers. We hope that our efforts towards the digital processes help customers avail quick and smooth loans at the most competitive interest rates,” the bank’s General Manager (mortgages and other retail assets) Harshadkumar Solanki said.
Published: March 15, 2021, 15:26 IST