Bank of Baroda made home loan cheaper, EMI reduced so much…only these customers will get the benefit

This special rate on home loan will continue to be available till December 31, 2022. However, existing customers of Bank of Baroda will not get the benefit of this special rate of home loan. Only new customers and those who transfer the loan will get the rate discount.

Bank of Baroda makes home loan affordable for select customers

To give relief to our millions of customers Bank Of Baroda (Bank Of Baroda) home loan made cheaper. Customers are being given a discount on their loan. home loan rate But a discount of 25 basis points is being given. But only a few selected customers are getting the benefit of this discount. bank after discount Off Baroda Home Loan Starting from 8.25% per annum. The reduced home loan rate is applicable from November 14, 2022.

This is a special home loan offer from Bank of Baroda, in which only a select few customers are being given the benefit of the discount. According to Bank of India, customers who are taking a new home loan are being given a discount of 25 basis points on the rate. Also, customers who will transfer their home loan to Bank of Baroda are also being given a discount of 25 basis points. Bank of Baroda has waived the processing charge of home loan under another additional facility.

who will benefit

In this new facility, Bank of Baroda has made one thing clear that how much home loan a customer will get, it will completely depend on his credit profile. Bank of Baroda has said in a press release that it is currently providing home loans at the most attractive rates in the market. This special rate on home loan will continue to be available till December 31, 2022. However, existing customers of Bank of Baroda will not get the benefit of this special rate of home loan. Only new customers and those who transfer the loan will get the rate discount.

How much has EMI reduced?

Now let us also know how much and how the customers will get the benefit of home loan rebate. Suppose you want to take a home loan of Rs 30 lakh from Bank of Baroda at a special rate, then its rate for you will be 8.25%. The loan tenure will be 20 years. In this way, you will have to pay an EMI of Rs 25,562 every month.

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If you look at the account of other public sector banks, then their home loan is starting at 8.5%. At this rate, if a customer takes a home loan of Rs 30 lakh for 20 years, then his EMI will be Rs 26,035. In this way, the customer will get a benefit of Rs 473 every month on the special home loan rate. But its condition is that those who will take a new home loan, or those who will transfer the loan to Bank of Baroda, only they will get the benefit of the special rate.

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