Bank of Baroda
Bank of Baroda slashes car loan interest rates
New Delhi: Bank of Baroda on Monday announced to reduce rates on car loans to 7 per cent per annum with concession in processing charges for a limited period up to June 30, 2022.
"The new rate beginning at 7 per cent per annum along with the concessional processing charges are applicable for the purchase of a new car. This special rate offering is linked to a borrower's credit profile,'' a statement from the bank said.
Last month, the public sector lender had announced a reduction in its home loan interest rates from 6.75 per cent p.a. to 6.50 p.a. for a limited period.
The Bank had also announced a 100% waiver on processing fees during the period.
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