Bank of Baroda has made a 25 basis points (bps) reduction in its car loan interest rates to 7 per cent per annum from 7.25 per cent earlier. It has reduced processing charges to a flat Rs 1,500 plus GST for a limited period up to June 30, 2022.
The new rate and the concessional processing charges are applicable for purchase of a new car. This 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 is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
