Limited Offer: Bank of Baroda Home Loan Interest Rate Reduced to 8.3%, Processing Fee Waived

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Bank Of Baroda Revised Home Loan:  Bank Of India, a public sector lender, on Tuesday, announced that it has reduced the rates on home loans from 8.45 percent to 8.3 percent. The bank has also announced a complete waiver of the processing fee as part of a limited-time offer that will end this month.

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At 8.3 percent, the bank said it had the lowest ratio among its peers. Industry leaders SBI and HDFC Bank, offer Home Loan at lowest at 8.4 percent. The bank said that the offer is valid till March 31.

The bank said it will provide special financing for rooftop solar panels at a 7 percent interest rate and without any processing fee.

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At 8.3 percent, a 30-year home will have an EMI of Rs 755 per lakh of Loan. The loan package is further enhanced with an overdraft facility, providing homebuyers with a flexible and comprehensive financial assistance system.

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Rooftop Solar Panels

Rooftop solar panel loans are priced at 7 percent excluding processing fees. Under the scheme, those intending to install solar roofs can avail finance of up to 95 percent of the project cost with a maximum repayment period of 120 months.

A consumer who directly spends Rs 78,000 can benefit from a government subsidy.

(With PTI inputs)