Bank of Baroda reduces interest rates
11 August 2005
Bank of Baroda reduced its lending rates for its housing loan, car loan and traders loan under the retail product category. The bank has set itself an ambitious growth plan of achieving 60 per cent over the previous year under this product category.
The changes as mentioned below are applicable only to the new loans availed from August 1 and for the existing loans with floating rate option:
Car Loan: The drop in the rate is between 0.75 per cent to 1.25 for the below 3-year category years category.
The new rates for up to three years as:
|Upto Rs.5 lacs||2.0% below BPLR i.e. 8.50%||2.0% below BPLR i.e. 8.50%|
|Above Rs.5 lacs||2.5% below BPLR i.e. 8.00%||2.0% below BPLR i.e. 8.50%|