Bank of Baroda has reduced the interest rate on all loans in this Diwali. The state-owned bank has shredded interest rates on all MCLR-based loans by 5 basis points. The new interest rate will be active from November 12, 2020. As a result, cars, retail and home loans are becoming inexpensive and people can benefit from the same.
Earlier on November 1, Bank of Baroda has reduced the repo rate established interest rate (RLLR) by 15 basis points. As a result, it dropped from 7 per cent to 7.75 per cent. They have stabilized all the retail interest rates based on RLLR in line with the revised current interest rates. Home loans, mortgage loans, car loans, education loans, personal loans and all different types of loans are also prone to the new interest rates from November 1. Following the revision in the RLLR, the least interest rate on Bank of Baroda (BoB) mortgages has come down to 7.75 per cent. In the case of car loan, the consumer has to pay interest at the rate of only 8.1 per cent.
- Arnab Goswami made a big announcement today: Republic Media Network will launch regional channels in every state
- Editors guild criticizes Arnab Goswami’s arrest, calls out Maharashtra chief minister to ensure fair treatment
- This election Asaduddin Owaisi will fight in West Bengal alleging deprivation
- CK motors to launch electric two wheelers and four wheelers