Bank of Baroda Cuts Home Loan Interest Rates To 8%, Check Details
Bank of Baroda says the 8% rate is applicable on loans of Rs 15 lakh and above and is linked to the borrower's credit score.
State-owned Bank of Baroda on Monday said it has reduced its home loan interest rates. After the revision, the lender’s home loan rates now start from 8 per cent per annum, compared with 8.40 per cent pa. It said the rates are applicable on fresh home loans and home improvement loans.
“The rate is applicable on loans of Rs 15 lakh and above and is linked to a borrower’s credit score," Bank of Baroda said in a statement on Monday, May 5, 2025.
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The bank had already passed on the Repo rate reduction benefits to its existing borrowers with loans linked to the repo rate, it added.
The bank is offering a concession of 0.05 per cent per annum for women borrowers and 0.10 per cent per annum for borrowers below 40 years of age, on ready properties, shifting of home loans, etc, Bank of Baroda stated.
Sanjay Mudaliar, executive director of Bank of Baroda, said, “Bank of Baroda’s new reduced home loan rates will further make home ownership more affordable. We are also offering special concessions for specific important segments. These revised rates reinforce the bank’s commitment to offer competitive credit solutions to aspiring homeowners, further strengthening its position as a preferred housing finance partner."
The bank’s ‘Home Loan Balance Transfer’ scheme offers an opportunity for borrowers of other banks and NBFCs to shift their home loans to Bank of Baroda with minimum documentation and quick processing, “thus enabling them to take advantage of reduced interest rates", it added.
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