Bank of Baroda lowers home loan interest rate by 0.25 per cent

New Delhi: Public sector lender Bank of Baroda on Friday said it has lowered the interest rate on home loans by 0.25 per cent or 25 basis points to 6.50 per cent for a limited period till June 30.

The new interest rate is available for customers applying for fresh home loans as well as for balance transfers. "We have seen a significant pick-up in home sales over the last many months and we are delighted to extend the good times for home buyers with the introduction of a special, limited period interest rate offer of 6.50 per cent along with nil processing charges," Bank of Baroda said in a statement.

"We expect the momentum to continue, as customers seek to make the most of this very attractive offer to buy their dream home," H T Solanki, Bank of Baroda's General Manager for mortgages and other retail assets, said in the statement.