A general picture of Bank or Baroda in Parliament Street in New Delhi on Wednesday. April 30, 2025. Photo: Aman Raj / Intern | Photocredit: Aman Raj
Bank of Baroda (BOB) has reduced the interest rates for car loan by 25 basic points, with the new rates that now start with 8.15 percent against 8.40 percent earlier.
The bank of the public sector also reduced interest rates on the mortgage loan (loan against real estate) from 9.85 percent to 9.15 percent with immediate effect.
The bank said that the aforementioned reduction of interest rates is the start of the festive season.
Bob said in a statement that the reduction of the car loan is higher than the rate reduction post after the 100 basic points that are reduced by the RBI in the policy repair rate.
The new rate starts at 8.15 percent A yes. applies to loans for the purchase of a new car and is linked to the credit profile of a borrower.
Sanjay Mudaliar, executive director, said Bob’s special offer at car loan rates makes car ownership more accessible and more affordable.
In addition, the banking loan of the bank unlocks a higher value for real estate and customers can collect additional funds with reducing the interest rates from 55 BP to 300 BPS, depending on the Cibil score, he added.
Published on August 28, 2025
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