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Bank of India introduces repo-based interest rate for select loan products

Corporation Bank also announced launch of home loans linked with external benchmark

BOI, United Bank to raise up to Rs 1,500 crore via bonds
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Bank of India

Press Trust of India
Bank of India(BoI) on Saturday said it has decided to introduce repo-based interest rate for select loan products. Corporation Bank also announced launch of home loans linked with external benchmark.

Initially, Bank of India will link housing, vehicle and personal loans to an interest rate based on Reserve Bank's repo rate, the bank said in a statement.

"These repo based interest rate products would be available to the customers, effective from September 1, and would be formally launched at bank's 114th Foundation Day on September 7," BoI said.

This measure will facilitate better transmission of policy rate changes and benefit the

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First Published: Aug 31 2019 | 7:18 PM IST

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