|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Bank Of Baroda Home Loan||One year MCLR to One year MCLR +1.00% (As per Risk Rating of the applicant/s.)||₹7,500 - ₹20,000||up to 10 crore||30 Years|
The Bank of Baroda has announced its decision to cut the lending rates on loans for its customers thereby making it cheaper.
The public sector lender has cut its benchmark lending rate to the tune of 0.1 per cent. The bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) under the Regulatory 30 of SEBI (LODR) regulations of 2015.
Accordingly, lending rates of loans whose tenure is less than a year are down by 10 basis points. The new loan rates will come into effect starting from March 7, 2019.
The MCLR for one year period has also been trimmed to 8.65 per cent from its earlier rate of 8.75 per cent.6 March 2019