Bank of Baroda Reduces Home Loan Interest Rates by 25 bps to 8.25% for a Limited Period

November 23, 2022 Bharath

100% waiver on Processing Charges as well

MUMBAI, India, Nov. 23, 2022 /PRNewswire/ — Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that it is reducing its home loan interest rates by 25 basis points (bps) to 8.25%* p.a. with effect from November 14, 2022 for a limited period. This is one of the lowest and most competitive home loan interest rates in the industry. This special rate is available till December 31, 2022. In addition to the 25 bps discount on the rate of interest, the Bank is also waiving off processing charges.

The new rate beginning at 8.25%* p.a. is available for borrowers applying for fresh home loans as well as on balance transfers. This special rate is linked to a borrower’s credit profile.

H T Solanki, General Manager – Mortgages & Other Retail Assets, Bank of Baroda said, “In a scenario where interest rates are on an upward trajectory, we are pleased to drop our home loan interest rates and introduce a special, limited period home loan interest rate offer of 8.25%, making home purchases that much more affordable for home buyers. We have seen a robust growth in home loans this year with strong demand across cities and consumer confidence driving home sales. Such an attractive offer on home loans will give a further boost as people take advantage of this offer to realise their aspiration of owning their own home.”

Key features of Bank of Baroda Home Loans

Interest rates starting at 8.25%* p.a. for a limited period
Zero processing charges
Takeover of home loans with minimum documentation
Flexible tenure up to 360 months
No Pre-payment/Part-payment charges
Door step service at major centres
Avail Digital Home Loans with quick approval in just a few steps

To apply for a Bank of Baroda Home Loan, applicants can walk in to any of Bank of Baroda’s branches across India. Customers can also apply online at https://www.bankofbaroda.in/personal-banking/loans/home-loan and get an in-principle approval within minutes.

About Bank of Baroda:

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touch points spread across 18 countries in five continents. Through its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.