Home Loan Interest Rate: Taking loan for home from Bank of Baroda has become even cheaper but this facility is available for a limited time only.
Home Loan Interest Rate: Taking home loan from Bank of Baroda has become even cheaper but this facility is available for a limited time only. Bank of Baroda has reduced home loan interest rates from 6.75 per cent to 6.50 per cent for a limited period. The bank has informed about the reduction of home loan rates through a release today (April 22) and according to this release, the new reduced rates will be effective till June 30, 2022. Let us inform that earlier the bank was offering home loans at the rate of 6.5 percent to specific borrowers till March 31, 2022. After this it was increased from 1 April 2022 and now today it has been announced to reduce it again.
no processing charge
According to HT Solanki, general manager (mortgage and other retail assets), Bank of Baroda, home sales have been showing a boom for the past several months and in such a situation, the bank has decided to introduce a special offer for a limited period for home buyers. Under this, by June 30, 2022, instead of 6.75 percent, now you will be able to take a home loan at the rate of 6.50 percent. Apart from this, processing charges will also not have to be paid.
They will get the benefit of the new reduced rates
According to the release issued by the bank, the reduced interest rates will be applicable for new loan as well as balance transfer. Apart from this, these rates will be applicable for all types of loan amounts. However, only those borrowers will get the benefit of reduced rates, whose CIBIL score is 771 or more.