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Bank of Baroda has revised nan location indebtedness rates starting astatine 8% for loans complete Rs 15 lakh, limited connected in installments scores, pinch caller reductions benefitting existing borrowers linked to nan repo rate.
Bank of Baroda has pdated its Marginal Cost of Lending Rate (MCLR), effective from April 12, 2025, pinch nan overnight MCLR group astatine 8.15% and nan one-year MCLR astatine 9%.
Bank of Baroda has revised its location indebtedness rates, offering a starting liking complaint of 8% for caller location and location betterment loans amounting to Rs 15 lakh and above. This accommodation is peculiarly beneficial for creditworthy borrowers, arsenic nan rates are linked to their in installments profiles, providing much favourable position for those pinch precocious in installments scores.
Existing customers whose loans are tied to nan repo complaint person already knowledgeable nan advantages of a caller simplification successful nan repo rate, reflecting nan bank's committedness to timely complaint adjustments.
The liking complaint for Bank of Baroda's location loans now ranges from 8% to 9.50% per annum for salaried individuals, while non-salaried applicants look rates betwixt 8% and 9.60%.
These rates use to some Baroda Home Loans and Home Improvement Loans, pinch variations depending connected nan borrower's in installments people and nan indebtedness amount. Additionally, nan slope offers discounts to definite segments, specified arsenic a 0.05% per annum concession for women borrowers and a 0.10% simplification for those nether 40 years of age, arsenic good arsenic for equilibrium transfers, afloat completed properties, and government-approved lodging projects.
The slope has besides updated its Marginal Cost of Lending Rate (MCLR), effective from April 12, 2025, pinch nan overnight MCLR group astatine 8.15% and nan one-year MCLR astatine 9%. These rates are important arsenic they power liking calculations connected loans and are adjusted successful consequence to changes successful nan marketplace and regulatory environment.
Here are nan latest location indebtedness rates of Bank of Baroda:
| Baroda Home Loan to Non-Staff Members | For Salaried | 8.00% p.a. to 9.50% p.a. |
| For Non-salaried | 8.00% p.a. to 9.60% p.a. | |
| Baroda Home Improvement Loan to Non-Staff Members | For Salaried | 8.00% p.a. to 9.50% p.a. |
| For Non-salaried | 8.00% p.a. to 9.60% p.a. | |
| Baroda Max Savings Home Loan – Up to ₹75 lakh | For Salaried | 8.00% p.a. to 9.50% p.a. |
| For Non-salaried | 8.00% p.a. to 9.60% p.a. | |
| Baroda Max Savings Home Loan – Above ₹75 lakh | For Salaried | 8.25% p.a. to 9.75% p.a.. |
| For Non-salaried | 8.25% p.a. to 9.85% p.a. | |
| Baroda CRE Home Loan | For Salaried | 8.25% p.a. to 9.75% p.a.. |
| For Non-salaried | 8.25% p.a. to 9.85% p.a. | |
| Baroda CRE Home Loan (Max Savings) – Up to ₹75 lakh | For Salaried | 8.25% p.a. to 9.85% p.a. |
| For Non-salaried | 8.25% p.a. to 9.85% p.a. | |
| Baroda CRE Home Loan (Max Savings) – Above ₹75 lakh | For Salaried | 8.50% p.a. to 10.00% p.a. |
| For Non-salaried | 8.50% p.a. to 10.10% p.a. | |
| Baroda Top Up Loan | For Salaried & Non-salaried | Linked Home Loan ROI + Strategic Premium (0.25%) + 0.60% |
Bank of Baroda besides promotes integer location loans, which committedness speedy approvals successful a fewer steps. These initiatives are portion of nan bank's broader strategy to streamline nan indebtedness process and pull a digital-savvy customer base. Furthermore, nan slope ensures that its rates align pinch its Repo Linked Lending Rate (BRLLR), making them taxable to changes based connected soul policies and nan borrower's CIBIL score. A consequence premium of 0.05% is levied connected customers who do not get in installments security cover, ensuring nan slope maintains a balanced consequence profile.
As portion of its competitory edge, Bank of Baroda faces title from awesome banks specified arsenic State Bank of India and HDFC Bank, which besides connection varied liking rates and customer incentives. For instance, HDFC Bank is known for its extended R&D fund and customer work initiatives, while State Bank of India holds a important marketplace stock pinch its wide branch network. In this competitory landscape, Bank of Baroda's strategical pricing and discounts purpose to heighten its entreaty and unafraid a larger stock of nan location indebtedness market.
Here are nan location indebtedness rates of different banks
| Kotak Mahindra Bank | 8.65% onwards | Salaried: 0.5% + taxes; Self-Employed/Commercial: 1.0% + taxes |
| Union Bank of India | 8.35% onwards | 0.50% of indebtedness amount |
| Bank of Baroda | 8.00% onwards | No processing fee; discounted upfront fee |
| Central Bank of India | 8.10% onwards | 0.50% up to Rs 20,000 + GST (waived till 31 March 2024) |
| Bank of India | 8.15% onwards | Nil |
| State Bank of India | 8.00% onwards | 0.35% of indebtedness magnitude + GST |
| HDFC Home Loans | 8.70% onwards | Up to 0.50% aliases ₹3,000 + taxes, whichever is higher |
| LIC Housing Finance | 8.25% onwards | Varies by indebtedness size; ranges from ₹15,000 to ₹50,000 + GST |
| Axis Bank | 8.75% onwards | Up to 1% aliases min. ₹10,000 + GST |
| Canara Bank | 8.15% onwards | 0.50% of indebtedness amount |
| Punjab and Sind Bank | 8.35% onwards | Slab-based from Rs 1,000 to 0.25% of indebtedness amount |
| IDFC First Bank | 8.85% onwards | Up to 3% of indebtedness amount |
| Bank of Maharashtra | 7.85% onwards | No processing fees |
| Punjab National Bank | 8.50% onwards | Nil |
| IDBI Bank | 8.40% onwards | 0.50% (Rs 2,500 - Rs 5,000) |
| HSBC Bank | Contact nan bank | 1% aliases Rs 10,000, whichever is higher |
| Karur Vysya Bank | 8.45% onwards | Rs 2,500–Rs 7,500 + GST based connected indebtedness size |
| Saraswat Bank | 8.15% onwards | Slab-based: NIL to 0.50% of indebtedness amount |
| Jammu and Kashmir Bank | 8.75% onwards | 0.50% + GST (min Rs 2,000, max Rs 50,000) |
| South Indian Bank | 8.50% onwards | 0.50% + GST |
| Federal Bank | 9.90% onwards | 0.50% (min Rs 10,000, max Rs 20,000) |
| Standard Chartered Bank | 8.95% onwards | Contact nan bank |
| Karnataka Bank | 8.75% onwards | Contact nan bank |
| Sundaram Home Finance | 10.00% onwards | Up to 0.75% + GST |
| Dhanlaxmi Bank | 8.75% onwards | 1% (min Rs 10,000 + tax) |
| Tata Capital | 8.75% onwards | 2% + GST |
| Tamilnad Mercantile Bank | 8.60% onwards | 0.50% + GST |
| Bandhan Bank | 8.91% onwards | Contact nan bank |
| Yes Bank | 9.00% onwards | 1.5% aliases Rs 10,000 (whichever higher) + GST |
| Hudco Home Loan | Contact nan bank | Nil |
| Aditya Birla | 8.60% onwards | Up to 1% |
| GIC Housing Finance | 8.80% onwards | Rs 2,500 + GST |
| Shriram Housing | Contact nan bank | Up to 2.5% + applicable taxes |
Source: Bankbazaar.com
Published on: May 6, 2025 3:55 PM IST
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