Bank of Baroda cuts home loan interest rates by 25 basis points to 8.25% for a limited period 100% processing fee waiver also
BOMBAI, 11 NOVEMBER 2022 (GPN): Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that it is cutting interest rates on home loans by 25 basis points (bps) to 8.25%* per year from November 14, 2022 for a limited period. This is one of the industry’s lowest and most competitive interest rates for home loans. This special rate is available until December 31, 2022. In addition to the 25 basis point reduction on the interest rate, the Bank is also waiving the processing fee.
The new rate starting at 8.25%* per annum is available for borrowers applying for a new home loan as well as for balance transfers. This special rate is linked to the borrower’s credit profile.
HT Solanki, Managing Director – Mortgages and Other Retail Assets, Bank of Baroda said: “In a scenario where interest rates are on an upward trajectory, we are pleased to lower our interest rates on home loans and introduce a special interest rate offer on home loans at time limited 8.25%, making real estate purchases much more affordable for home buyers. We have seen robust growth in home loans this year, with strong demand in all cities and consumer confidence driving home sales. Such an attractive offer on home loans will give an extra boost as people take advantage of this offer to fulfill their aspiration of owning their own home.
Key Features of Bank of Baroda Home Loans
o Interest rate from 8.25%* per year for a limited period
o No processing fees
o Takeover of real estate loans with a minimum of documentation
o Flexible duration up to 360 months
o No prepayment/partial payment fees
o Home service in major centers
o Get digital home loans with quick approval in just a few steps
To apply for a home loan from Bank of Baroda, applicants can visit any of the branches of Bank of Baroda across India. Clients can also apply online at https://www.bankofbaroda.in/personal-banking/loans/home-loan and get approval in principle in minutes.
*Terms and conditions apply