Mumbai: Bank of Baroda, India’s premium public sector bank, announced reduction of 25 bps in its home loan rates from 6.75% to 6.50%* w.e.f from October 7, 2021. With the onset of festive season and to make home buying more affordable for customers, the Bank has extended this offer and the special rate will be available till December 31, 2021. The new rates will be available for customers applying for fresh loans, loan transfer or looking to refinance their existing loans making the offer more inclusive. Nil processing fee on home loan was already on offer and has been extended till 31/12/21.
On the announcement of reduction in home loans, Mr H T Solanki, GM- Mortgages & Other Retail Assets, Bank of Baroda said , “Bank always tries to offer the most competitive rates of interest on home loan and other retail loan products while making the process seamless and hasselfree through our digital platforms and our dedicated teams. Our customers will get benefited from this offering in this festive season. With this reduced rate of interest, Bank of Baroda home loans are now offering the most competitive rates across categories for a limited period till 31/12/2021 .”