Bank of Baroda reduces BRLLR by 15 bps to 6.85%
Bank of Baroda, India’s third largest public sector bank, announced reduction in Baroda Repo Linked Lending Rate (BRLLR) from 7% earlier to 6.85% w.e.f from November 1, 2020.
- (1888PressRelease) November 03, 2020 - Bank of Baroda, India’s third largest public sector bank, announced reduction in Baroda Repo Linked Lending Rate (BRLLR) from 7% earlier to 6.85% w.e.f from November 1, 2020. All retail loans are linked to BRLLR (External benchmark- Repo linked rate) , hence customers availing Home Loan, Mortgage Loan, Car Loan, Education Loan, Personal Loan and all other retail loan products can avail of this benefit.
Earlier ahead of the festive season, the bank had announced concession in interest rates on Home loan and Car loan. Now with this revision in BRLLR, Home Loan rates start at 6.85% and Car Loan rates start at 7.10%, Mortgage loan rates start at 8.05% and Education loan rates start at 6.85%.
On the announcement of reduction in BRLLR, Mr Harshadkumar T. Solanki, GM - Mortgages and Other Retail Assets said, “This reduction in BRLLR makes our Home Loan, Car Loan, Mortgage, Education loan, Personal loan along with other retail loans are attractive, and customers will get benefited from this offering in this festive season”.
(Chitra Suresh)
Asst. General Manager
(PR & Corp. Comm.)
BCC/CPR/2020/
About Bank of Baroda:
Bank of Baroda (“The Bank”) established on 20th July 1908 is a State-owned banking and financial services organisation, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self- service channels. The Bank’s distribution network includes 8,950+ branches, 12,000+ ATMs, 1,200+, self-service e-lobbies and 18,000 Business Correspondents. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The Bank has wholly owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint ventures for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% in The Nainital Bank. The Bank has also sponsored three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.
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