BoB cuts lending rate by 10 bps to 6.75%

Bank of Baroda has recently announced a reduction in Baroda Repo Linked Lending Rate (BRLLR) from 6.85% to 6.75%, effective from 15 March, 2021. With this reduction in BRLLR, all retail loans of the bank would get automatically adjusted.

The customers availing home loan, car loan, mortgage loan, personal loan, education loan and all other retail loan products could avail of this benefit. With this revision, home loan rates start at 6.75%, mortgage loan rates start at 7.95%, car loan rates start at 7% and education loan rates start at 6.75%.

In this regard, Harshadkumar T. Solanki, GM, Mortgages and Other Retail Assets remarked, “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.”