Bank of Baroda, India’s third largest public sector bank, announced reduction in Baroda Repo Linked Lending Rate (BRLLR) from 7% earlier to 6.85% w.e.f from November 1, 2020. All retail loans are linked to BRLLR (External benchmark- Repo linked rate) , hence customers availing Home Loan, Mortgage Loan, Car Loan, Education Loan, Personal Loan and all other retail loan products can avail of this benefit.
Earlier ahead of the festive season, the bank had announced concession in interest rates on Home loan and Car loan. Now with this revision in BRLLR, Home Loan rates start at 6.85% and Car Loan rates start at 7.10%, Mortgage loan rates start at 8.05% and Education loan rates start at 6.85%.
On the announcement of reduction in BRLLR, Harshadkumar T. Solanki, GM – Mortgages and Other Retail Assets said, “This reduction in BRLLR makes our Home Loan, Car Loan, Mortgage, Education loan, Personal loan along with other retail loans are attractive, and customers will get benefited from this offering in this festive season”.