Bank of Baroda reduces BRLLR by 10 bps to 6.75%

By: |
March 15, 2021 3:34 PM

Borrowers availing of Home Loan, Mortgage Loan, Car Loan, Education Loan, Personal Loan or any other retail loan products can avail of this benefit.

Home loan, interest rates, SBI, ICICI, CIBIL score, home loan, home loan interest rates, education loan, car loan, Lowest home loan interest rates, latest home loan interest rates, cheapest home loan, latest home loan rates offered by 20 banks, Floating-Rate Home Loan Interest Rates, SBI, HDFC, ICICI, Axis Bank, PNBBorrowers can contact their base branch for the conversion of Rate of Interest from MCLR to BRLLR.

Bank of Baroda has announced a reduction in Baroda Repo Linked Lending Rate (BRLLR) from 6.85 per cent earlier to 6.75 per cent from March 15, 2021.

All retail loans are linked to BRLLR (External benchmark- Repo linked rate), hence, borrowers availing Home Loan, Mortgage Loan, Car Loan, Education Loan, Personal Loan or any other retail loan products can avail of this benefit.

With this revision in BRLLR, home loan rates will start at 6.75 per cent and car loan rates start at 7 per cent, mortgage loan rates will start at 7.95 per cent and education loan rates will start at 6.75 per cent. The public sector bank says borrowers can contact their base branch for the conversion of Rate of Interest from MCLR to BRLLR.

Harshadkumar T. Solanki, GM – Mortgages and Other Retail Assets on the reduction in BRLLR says, “This reduction in BRLLR makes our loans more affordable for the customers. We hope that our efforts towards the digital processes help customers avail quick and smooth loans at the most competitive interest rates”

At the start of this month, various banks also reduced their home loan interest rates for borrowers. HDFC, for instance, reduced its Retail Prime Lending Rate (RPLR) on housing loans by 5 basis points, the State Bank of India (SBI), ICICI Bank and Kotak Mahindra Bank also reduced the interest rates on home loans – most of these banks have slashed their home loan interest rates to 6.70 per cent per annum.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Aviva Life launches Nivesh Bima plan – Check features
2Complete ban on private cryptocurrencies recommended: What in store for crypto investors?
3How different is individual health insurance from family floater and critical illness plan?