Bank of Baroda (BoB) has cut its lending rate from 6.85% to 6.75%.
“All retail loans are linked to BRLLR (Baroda Repo Linked Lending Rate). Hence, customers availing home loan, mortgage loan, car loan, education loan, personal loan and all other retail loan products can avail of this benefit,” the bank said in a statement. With this revision in BRLLR, home loan rates now start at 6.75% and car loan rates at 7%. Mortgage loan rates start at 7.95% and education loan rates at 6.75%,” the bank said.
“This reduction makes our loans more affordable for customers,” said Harshadkumar T. Solanki, GM, mortgages and other retail assets.
“We hope that our efforts towards digital processes help customers avail quick and smooth loans at the most competitive interest rates.”