Bank of Baroda reduces home loan interest rate to 6.75%, car loan interest rate to 7%

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Image Source : PTI (FILE)

Bank of Baroda reduces home loan interest rate to 6.75%, car loan interest rate to 7%

Bank of Baroda, India’s third largest public sector financial institution, on Monday lowered Baroda Repo Linked Lending Rate (BRLLR) from 6.85 per cent to 6.75 per cent, efficient from March 15.

The reduce is predicted to affect all classes of loans provided by the financial institution. As all retail loans are linked to BRLLR (exterior benchmark-repo linked rate), prospects availing home loans, mortgage loans, car loans, training loans, private loans and all different retail loan merchandise can avail of this profit.

With this revision in BRLLR, home loan charges begin at 6.75 per cent and car loan charges at 7 per cent, mortgage loan at 7.95 per cent and training loans at 6.75 per cent.

Harshadkumar T. Solanki, GM, Mortgages and Other Retail Assets, mentioned: “This reduction in BRLLR makes our loans more affordable for the customers. We hope that our efforts towards the digital processes help customers avail quick and smooth loans at the most competitive interest rates.”

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