The Business Bytes
TBB BUREAU
MUMBAI, APRIL 22, 2022
State-owned Bank of Baroda has reduced home loan rates by 25 basis points to 6.50 percent for a limited period till June 30, the lender said in a release today. Also, the bank has announced a 100 per cent waiver on processing fees during this period.
Notably, the new rate beginning at 6.50% per annum will be available to customers applying for fresh home loans as well as for balance transfers. This special rate is available across all loans amounts and is linked to a borrower’s credit profile.
“We have seen a significant pick-up in home sales over the last many months and we are delighted to extend the good times for home buyers with the introduction of a special, limited period interest rate offer of 6.50% along with nil processing charges. We expect the momentum to continue, as customers seek to make the most of this very attractive offer to buy their dream home,” said H.T. Solanki, General Manager- Mortgages and Other Retail Assets at Bank of Baroda.
