Bank Of Baroda Cuts Interest Rates On Cars, etc
Bank of Baroda has announced a reduction in interest rates on car loans and loans against property, effective immediately. This move follows the Reserve Bank of India’s recent 100 basis points cut in the policy repo rate. The bank's floating interest rates for car loans have been lowered from 8.40% to 8.15% per annum, while mortgage loan rates have dropped from 9.85% to 9.15% per annum.
Sanjay Mudaliar, Executive Director of Bank of Baroda, highlighted that these new rates make car ownership more affordable and mortgage loans more competitive, allowing customers to unlock higher property value and raise additional funds with interest reductions ranging from 55 to 300 basis points, depending on their CIBIL score.
The bank also offers fixed-rate car loans starting at 8.65%, linked to ...










