Global Expansion Strategies for FinTechs in Emerging Markets: A Playbook for Leaders
2nd August 2025
Exclusive
Top Fintech Innovations Shaping 2025: The Future of Finance
How Open Banking is Shaping Financial Services Globally
The Evolution of Fintech Regulation: What’s Next?
The Rise of Contactless Payments: Benefits and Security Concerns
.jpg)
The Future of Payments: Trends Reshaping Transactions in 2025
How AI is Transforming the Credit Scoring System
Flipkart Gets a Lending Licence: A Bold Leap into Embedded Finance
QR Codes and the Cashless Leap: Transforming India's Financial DNA
The Impact of 5G on Fintech Services
Biometric Payments: The Next Big Trend in Secure Transactions
What the Future Holds for Digital-Only Banks: Navigating the Next Era of Banking
The Role of Cryptocurrencies in Cross-Border Payments
Subscribers: 108
Bank of Baroda Slashes Home Loan Rate to 7.45% and Waives Processing Fee
News
05 July 2025
2 min read
174
In a strategic move to boost home loan demand, Bank of Baroda has reduced its floating-rate home loan interest rate from 7.50% to 7.45% per annum, effective immediately. Additionally, the bank is waiving processing fees for new home loan applicants, reinforcing its commitment to making home ownership more accessible and affordable.
This rate cut builds on the bank’s earlier policy in June, when it reduced the rate from 8.00% to 7.50%, in line with the Reserve Bank of India's repo rate reductions. With the current repo rate at 5.50%, Bank of Baroda’s base lending rate (BRLLR) now stands around 8.15%, including a spread of approximately 2.65%.
According to Sanjay Mudaliar, Executive Director at Bank of Baroda, “We continue to work towards our commitment of making home ownership more accessible. This latest reduction in our home loan interest rates is aimed at supporting the aspirations of citizens and stimulating credit growth.” He emphasised that the bank is aligning its lending strategy with the evolving monetary policy landscape and is committed to passing on rate benefits to customers .
The dual benefits of a reduced interest rate and zero processing fee are expected to:
Lower monthly EMIs, easing the burden on new home buyers.
Promote credit growth by encouraging new loan originations.
Enhance affordability in the housing sector amid current economic headwinds.
To apply, borrowers can use Bank of Baroda’s fully digital home loan platform or visit their nearest branch. The waiver applies to new borrowers only and may be subject to eligibility criteria, including credit score, loan amount, and tenure
As public sector banks race to transmit RBI rate cuts to customers, Bank of Baroda's aggressive stance positions it as a strong contender in the affordable housing finance space. Prospective buyers should act swiftly to take advantage of the current low-rate environment while it lasts.
Reference: LiveMint
👍 0
💬 0
Read Next
News
BharatPe Group Secures Final RBI Nod for Resilient Payments, Bolstering Fintech Credentials
News
📈 Stocks to Watch: Kotak Securities Unveils Six Picks for April with Up to 33% Upside
News
SEBI Imposes ₹3 Lakh Penalty on Motilal Oswal for Stock Broker Norm Violations
.jpg)
News
India’s Banks Step Up: Seek RBI Nod to Freeze Suspicious Accounts Amid Rising Frauds
News
Canara Bank Halts Unsecured Co-Lending Amid Concerns Over NBFC Underwriting Standards
News
Indians Moving Funds from FDs to Stocks & Mutual Funds as Investment Trends Shift
×
Live Polls
Live Discussion
Topic Suggestion
Whom Do You Wish To Hear
Leave your opinion / comment here