With the festive season around the corner, companies and institutions across all sectors are offering discounts and sales in an attempt to boost sales.
Not just e-commerce websites, financial institutions like banks too, are bringing in various festival offers, as the season approaches.
After the State Bank of India announced a series of festive offers for its home loan customers on Thursday, public sector bank, Bank of Baroda too, later that day announced a slew of festive offers for its retail borrowers.
It will offer a cut of 0.25% in the existing applicable rates of home loans and car loans, states a release by the PSB.
This means that the bank will offer a 0.25% waiver on the current Baroda Home Loans at 6.75% and Baroda Car Loans at 7%.
BoB Festive Offers
In the spirit of the upcoming festival season, Bank of Baroda will offer a series of interest rate cuts on its loan verticals.
It has announced to slash home loans and car loans by 0.25% of the ongoing rates. In addition to that, the bank has also waived off processing fees on home loans.
The general manager of BoB, H T Solanki speaking on the festive offers states, “With the introduction of these retail loan offers for this festive season, we intend to bring festive cheer among our existing loyal customers and also offer new to bank customers an attractive proposition for availing home loans and car loans.”
The customers of Bank of Baroda can apply for home or car loans to enjoy the slashed rates, by using the lender’s mobile banking application or website. This way, they can get an instant sanction.
As mentioned above, earlier on Thursday, prior to BoB’s announcement of rolling out a series of festival offers, SBI too had announced a slew of such offers.
It included offers for prospective home loan customers, including credit score-linked home loans starting at 6.70 per cent, irrespective of the loan amount.
Source: ET
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