BoB to not raise home loan rates, for now

Bank of Baroda has ruled out immediately raising lending rates, including home loans, but is looking to hike corporate loan rates.

"We are not changing interest rates instantaneously and we have no plans to change home loan rates," A K Khandelwal, chairman of Bank of Baroda, said.

However, he said the bank will persuade corporates to give better rates that will be within the range of prime lending rates.

The bank is planning to launch a stock broking arm and several wealth managament products by the year-end.