Rate Cut on Home Loans
Bank of Baroda (BoB) has reduced its 10-year fixed-rate home loan interest to 7.45%, starting July 1, 2025. This applies to salary and non-salary customers for loans up to ₹75 lakh.
Processing Fee Waiver
New borrowers will get their processing fee waived until September 30, 2025, helping reduce up-front costs.
Eligibility and Loan Size
- The rate applies to loans up to ₹75 lakh.
- Both salaried and self-employed customers qualify.
- Loans should be disbursed before September 30, 2025, to avail benefits.
Why This Matters
- Lower interest helps borrowers with smaller EMIs.
- Processing fee waiver saves upfront money.
- Helps compete with other banks offering reduced rates.
This move aims to make home loans more affordable and boost housing demand.