With the introduction of the festive offer, Bank of Baroda issued a statement that a borrower can get a home loan for any amount at a rate as low as 6.70%.
HTSolanki, GM-Mortgages and Other Retail Assets, Bank of Baroda sees this move as opportunistic and further said: to bank customers an attractive proposition to benefit from home loans and car loans which will benefit from lower rates and lower prices. ‘exemption from the proposed processing fees.
The Bank further stated: “The customer can also expect processing speed and door-to-door services and can apply on the website of ‘bob World’ / mobile banking or banks for instant sanction. “
This festive offer includes exemption from processing fees for home loans and an additional exemption of @ 0.25% on existing applicable rates for auto and home loans. As a result, auto loan rates start at 7.00% and mortgage rates start at 6.75%.
Meanwhile, SBI also announced festive offers for potential mortgage clients. For people with a credit score above 800, the interest rate starts at 6.7 percent, regardless of the loan amount.