File photo: A woman walks past a shell of bank or Baroda outside their branch in New Delhi, India, June 20, 2023. Reuters/Anushree Fadnavis/File photo | Photocredit: Anushree Fadnavis
This week Bank of Baroda has announced a reduction in the interest rates of the car loan on the occasion of the start of the festive season. According to Bank of Baroda, the interest rates of the floating car loan now start from 8.15 percent per year (rather 8.40 percent per year), with an immediate effect.
The rate reduction is above the rate reduction by the bank, after the 100 basic points that are reduced in the policy repo rate by the Reserve Bank of India (RBI). The new rate that starts at 8.15 percent per year applies to loans for the purchase of a new car and is linked to the credit profile of a borrower, said the state borror.
The bank has also reduced interest rates on Baroda mortgage loan (Real Estate Loan) from 9.85 percent per year to 9.15 percent per year with immediate effect. Sanjay Mudaliar, executive director of Bank or Baroda said: “The festive season is a favorable time for a new start with many families who want to fulfill their ambitions of owning a new vehicle.”
“Bank of Baroda is delighted to introduce a special offer in our car loan rates that makes car ownership more accessible and more affordable. Moreover, our mortgage loan offer is now even more competitive and offers a great opportunity to unlock a higher value for property and customers can collect additional funds to 35 BPS, depending on the Rentetarieven van 55” “
Applicants can request a Bank from Baroda Autolen loan digitally via the Digital Credit Platform of the Bank – Baroda Digital Car Lending or by visiting the nearest bank branch.
The bank also offers an attractive fixed interest rate on Baroda cars, linked to the 6-month MCLR of the bank, starting at 8.65 percent per year. (ANI)
Published August 31, 2025
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