By Admin 
Bank of baroda: Bank of Baroda (BOB) of the public sector has reduced its interest rate on home loans. The bank gave this information on Monday. After this amendment, the interest rate on home loan is now 8.40 percent annually as against 8.40 %. The bank informed that these new rates are applicable to new home loans and home improvement loans.
Repo rate was also benefited
Bank of Baroda said in a statement on Monday, May 5, 2025, this rate is applicable to loans of Rs 15 lakh and above. Along with this, it is also associated with the credit score of the borrower. The bank also said that the benefit of reducing the repo rate of the Reserve Bank of India has already been given to the existing borrowers from the bank. Now the bank is giving a concession of 0.05 % annually for female borrowers and 0.10 percent annually for borrowers below 40 years, which is applicable to ready properties, shifting of home loans etc.
Now buying a house is even more affordable
Sanjay Mudaliar, Executive Director of Bank of Baroda, said, “Buying the house at the new interest rate of Bank of Baroda will become even cheaper now. We are also offering special concepts for some more important segments. These new revised rates also make their positions stronger as a bank’s commitment to offer competition and a favorite housing partner to offer competition to those who want to buy a house. ‘
Loan transfer also easy
The bank’s ‘Home Loan Balance Transfer’ Spokes also gives the customers borrowed from other banks and NBFCs to the minimum documents and early processing and also gives a chance to transfer their home loans to Bank of Baroda, which will also give them a chance to take advantage of the low interest rate.
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