Bank of Baroda announced a reduction in its new car loan interest rates starting from 7 % p.a
MUMBAI, May 2 (The CONNECT) - Bank of Baroda announced a reduction in its new car loan interest rates starting from 7 % p.a. from the prevailing rate of 7.25%p.a. Additionally, the Bank announced a reduction in processing charges to a flat Rs. 1500/- plus GST for a limited period up to June 30, 2022.  
The new rate beginning at 7.00%* p.a. along with the concessional processing charges are applicable for purchase of a new car. This special rate offering is linked to a borrower’s credit profile.
The existing rate of interest for pre-owned cars and two-wheeler loans remains unchanged.
Bank of Baroda has earlier also announced a reduction in Home Loan interest rates starting at 6.50%* p.a. until June 30, 2022.