BoB cuts interest rates on home and MSME loans taken till month end

Reduces home loan rates by 40 bps, available to those with credit score of 751 and above

With competition turning intense ahead of the year end, Bank of Baroda cut the interest rate on housing loans by 40 basis points (bps) on Sunday, to 8.5 per cent, linked to the borrower’s credit profile. The interest rate rebate is applicable on loans taken till the end of the financial year closing on March 31, 2023 (FY23).

The reduced rate for home loans will be available to those with a credit score of 751 and above. At present, home loans for the salaried class cost 8.9-10.50 per cent depending on credit profile, according to the BoB website.

The Mumbai-based