Bank of Baroda Home Loan Rate: Bank is also giving complete waiver in processing fees on home loan. While MSME is giving 50% discount on loan processing fees.
Bank of Baroda Home Loan Rates:
In the public sector, Bank of Baroda has given wonderful gifts to its lakhs of customers on Holi. The government bank has announced a reduction in the interest rates of home loans. Bank announced reduction in interest on home loan at a time when other banks are increasing rates. Because RBI has continued to increase the repo rate. However, this special announcement of Bank of Baroda is only for the fixed date.
Holi gift to millions of BoB customers
Bank of Baroda has announced a reduction in interest on home loans and MSME loans on Sunday i.e. March 5. In the released statement, the bank said that the home loan rate has been reduced by 40 basis points i.e. 0.40% to 8.5%. At the same time, MSME will start taking interest at the rate of 8.4% on the loan.
Heavy discount on processing fee
Apart from this, the bank is also giving a complete waiver of processing fees on home loans. While MSME is giving 50% discount on loan processing fees. On Friday, Bank of Baroda shares closed at Rs 172.95, up 5 per cent on BSE.
Lowest interest rate
According to the released statement, the reduced rates on both types of loans have come into effect from March 5, 2023. Along with this, it was also told that the new rates will be applicable only till March 31, 2023. The bank claimed that these are the lowest and most competitive interest rates in the industry.
