After SBI, Bank of Baroda slashes interest rates on home and car loans, check other festive offers

New Delhi: Following in the footsteps of the State Bank of India (SBI), the Bank of Baroda has also announced a revision in the home loan and car loan interest rates. The state-owned bank has also announced a waiver of 0.25 per cent in the existing applicable rates for Baroda Home Loans and Baroda Car Loans. 

With the latest revision in interest rates, borrowers can take home loans from the Bank of Baroda at just 6.75 per cent while car loan rates start at just 7 per cent per annum. The bank has also announced a processing fee waiver on home loans.

Bank of Baroda’s general manager (mortgages & other retail assets) H T Solanki said that with the introduction of these retail loan offers for this festive season, the bank intends to bring festive cheer among existing loyal customers. 

“The bank will also offer new bank customers an attractive proposition for availing home loans and car loans," Solanki added.

Moreover, customers can also get instant sanctions for car and home loans. All they need to do is download Bank of Baroda’s mobile app and apply for a home or car loan. 

Prior to the Bank of Baroda, SBI announced several festive bonanza offers to make home and car loans more attractive for customers. The largest state-owned bank is now offering home loans at just 6.7% - the lowest in the industry. Also Read: Sensex rallies over 400 pts to new peak in early trade, Nifty tops 17,700

SBI is also offering credit-based loans which don’t differentiate between salaried and non-salaried individuals. Customers can also take home loans worth more than Rs 75 lakhs at just a 6.70% interest rate. Also Read: GST Council meeting today: Petrol to sell at Rs 75 per litre? Food delivery to get expensive? Here’s what you can expect