Bank Of Baroda Slashes Home Loan Interest Rate to 8.5%: Here’s How to Apply Online

Bank Of Baroda Home Loan Interest Rate Latest Update: The Bank of Baroda in a statement said it has simplified the application process for home loans.

Bank Of Baroda Home Loan Interest Rate Latest Update: Here comes a piece of good news for home buyers. The Bank of Baroda (BoB) said it has reduced home loan interest rates by 40 basis points (bps) to 8.50% annually. Moreover, the bank said it has reduced the interest rates on its MSME loans, which now commence at 8.40% per annum.

The bank said both offers will be applicable till March 31, 2023. Along with lowering the interest rates, the bank is also offering 100% waiver on processing fees for home loans and 50% of processing fees for MSME loans.

The Bank of Baroda said it is offering lowered interest rates on new home loans, balance transfers and for home improvement loans. Interestingly, the reduced interest rate is linked to the credit score of the borrower.

The Bank of Baroda in a statement said it has simplified the application process for home loans.

Interested customers can apply for a home loan online and get approved in less than 30 minutes by logging in to the BoB World mobile banking app or the bank’s website. Loan applications can also be filed in person at any of the Bank of Baroda’s offices in India.

Home Loan Interest Rate: Key Things to Know

• The Bank of Baroda said the interest rates for home loans start at 8.50% p.a. for a limited period.
• The Bank of Baroda offers zero processing fee
• The home loan from the Bank of Baroda will be available with minimum documentation
• The Bank of Baroda offers flexible tenure of up to 360 months

Bank of Baroda Home Loan: Here’s How to Apply Online

• Customers can apply for a home loan from the Bank of Baroda if they are at least 21 years old, employed, or self-employed with regular income.
• Bank customers with a CIBIL Score of at least 701 may now apply for home loans through BoB by giving a missed call on 8467001111 or dialing the toll-free number 18002584455.
• Customers can also apply for home loan by using mobile banking (BoB World) or Baroda connect net banking. They can also visit the nearest BoB branch to avail this service.