Bringing cheer to customers, state owned Bank of Baroda (BoB) has also announced a waiver of 0.25% in the existing applicable rates for Bank of Baroda Home Loans and Baroda Car Loans. The scheme is announced for take over housing loans ahead of festival season.
Thus all existing customers of BoB and new customers will get the lower rate benefit for new loans and balance transfer loans. The BoB head and General Manager (mortgage and other assets) H T Solanki said in a press release that the lenders intend to gift the existing loyal customers and also offer new-to-bank customers an attractive proposition for availing car loans or shifting their home loans who will be benefited from lower rates and waiver of processing fee on offer.
Other top banks including ICICI Bank, HDFC Bank and SBI Bank have also announced attractive Home Loan, Car Loan and Personal Loan offers for customers. Since March 2020 lending prices have been lowered by RBI to push affordable credit for people already struggling due to pandemic. Ahead of festival season the additional discounts and offers are being launched to attract customers and bring back normalcy.