Bank of Baroda lowers repo-linked retail loan pricing by 25 bps

MUMBAI: State-run Bank of Baroda on Monday lowered its repo-linked retail loan pricing by 25 bps following the reduction in the benchmark lending rate by the central bank.

Last week, the RBI reduced the repo rate for the fifth straight time by 25 bps to 5.15 percent.

The rates for consumer loans under the repo linked benchmark is revised downwards by 0.25 percent, BoB said.

The new rates will be applicable on home loans, mortgage loans, car loans, education loans, personal loans and all other retail loan products linked to repo rate.

Interest rates on home and auto loans are available from 8.10-8.60 percent, the bank said. SBI offers debit-card linked EMI options for festival shopping

After its rivals HDFC Bank and ICICI Bank launched discounts on their debit and card customers by aligning with hundreds of brands, State Bank Monday followed suit by offering an EMI facility for its debit card customers.

The facility will be available at over 4.5 lakh points of sale machines across 1,500 cities.

Under the scheme, consumers having a good credit history can opt for an EMI scheme of 6-18 months on their purchases.


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