Bank of Baroda offers special home loan rates of 6.5% for limited period. Details here

Govt-owned Bank of Baroda has brought in good news for homebuyers enabling them to opt for finances for their dream home through loans medium at an affordable interest rate. On Friday, the bank reduced its home loan interest rates to 6.50% per annum - which is one of the lowest and most competitive home loan rates in the industry. The lender fully waives the processing fee as well.

Earlier, the bank offered home loan interest rates at 6.75% per annum.

However, the bank's latest home loan rate of 6.5% is a special rate offered for a limited period and will be applicable till June 30, 2022.

Also, the bank has announced a 100% waiver on processing fees during this period.

In a statement, the bank said, "With this, Bank of Baroda continues to offer one of the lowest and most competitive home loan rates in the industry."

H T Solanki, General Manager - Mortgages & Other Retail Assets, Bank of Baroda said, “We have seen a significant pick-up in home sales over the last many months and we are delighted to extend the good times for home buyers with the introduction of a special, limited period interest rate offer of 6.50% along with nil processing charges. We expect the momentum to continue, as customers seek to make the most of this very attractive offer to buy their dream home.”

Notably, the new rate beginning at 6.50% per annum will be available to customers applying for fresh home loans as well as for balance transfers. This special rate is available across all loans amounts and is linked to a borrower’s credit profile.

To avail of Bank of Baroda Home Loan online and get an instant sanction letter, a customer can visit its website www.bankofbaroda.in. Customers can also apply through Bank of Baroda’s bank branches across India.

Bank of Baroda Home Loans is linked to an external benchmark i.e. RBI’s policy repo rate which currently stands unchanged at 4%.