Bank of Baroda reduces lending rate by 15 bps to 6.85%. Here's who can avail benefit
Bank of Baroda, India’s third-largest public sector bank, announced a reduction in Baroda Repo Linked Lending Rate (BRLLR) from seven per cent to 6.85 per cent.
The rate cut would be effective from November 1, 2020. With the cut in the external benchmark repo linked rate, all retail loans of the bank would get automatically adjusted.
The customers availing a home loan, mortgage loan, car loan, education loan, personal loan and all other retail loan products could avail of this benefit.
Earlier, ahead of the festive season, the bank had announced a concession in interest rates on home loans and car loans. Now with the revision of BRLLR, home loan rates start at 6.85 per cent, car loan rates at 7.1 per cent, mortgage loan rates at 8.05 per cent and education loan rates at 6.85 per cent.
On the announcement of a reduction in BRLLR, Harshadkumar T. Solanki, General Manager, Mortgages and Other Retail Assets, said, “The reduction in BRLLR makes our home loan, car loan, mortgage loan, education loan, personal loan and other retail loans as attractive and customers will get benefitted from such offering during this festive season.”
Stay connected with us on social media platform for instant update click here to join our ????️????️ Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Business headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Also, if you like our efforts, consider sharing this story with your friends, this will encourage us to bring more exciting updates for you.
