MUMBAI, JULY 4 (MExN): Public sector lender Bank of Baroda on Friday announced a further reduction in its home loan interest rate to 7.45 per cent per annum with immediate effect, and waived processing fees in a bid to enhance affordability and boost credit growth.
The move comes after the bank had earlier reduced its home loan interest rate from 8.00 per cent to 7.50 per cent in June, following a policy repo rate cut by the Reserve Bank of India.
“We continue to work towards our commitment of making home ownership more accessible. This latest reduction is aimed at supporting the aspirations of citizens and stimulating credit growth,” said Sanjay Mudaliar, Executive Director, Bank of Baroda.
He said the bank remains aligned with the evolving monetary policy environment to pass on the benefits of rate reductions to customers and support broader economic objectives.
The bank said its home loan services are supported by a seamless digital application process, and customers can apply online or visit the nearest branch. Terms and conditions will apply.
