As a part of festive loan campaign, Bank of Baroda has decided to lower its interest rates on home loans up to 1.50 per cent for different maturity periods.
As per this campaign, home loans up to Rs 30 lakh and above Rs 30 lakh will be a available at 10.50% (earlier 11.25%) and 10.75% (earlier 12-12.25%) respectively for tenure of 25 years.
The festive loan campaign started by the bank on October 1, will be there till November 30, 2012.
According to this campaign customers can get car loans at 11.25% and 11.75% (earlier it was 13% and 13.50%) with tenure up to five years and between five to seven years respectively.
The Bank in a statement also mentioned that the existing customer of home loan can get additional concession of 0.25% on a car loan.
Along with the above mentioned changes in the interest rates, the bank has also cut the interest rate on personal loans from 17% to 15% and eliminated processing charges.