Bank of Baroda, one of the largest Public Sector Banks, has reviewed its benchmark lending rates i.e. marginal cost of funds based lending rates [MCLR] across various tenors. MCLR has been reviewed at 10 BPS above existing level w.e.f. 07th November 2018. Bank’s 1-year MCLR will be 8.65 per cent, which is competitive as per the current market scenario. For all other tenors: overnight, one month, three months and six months rates are 8.15 per cent, 8.20 per cent, 8.30 per cent and 8.50 per cent respectively.
Bank of Baroda said it does not add any mark-up on its MCLR for its best rated home loan borrowers. Bank of Baroda is a customer centric bank and most competitive in terms of interest rate in the industry. The bank offers home loans at one year MCLR to its best-rated customers. 1-year MCLR i.e. 8.65 percent, is applicable irrespective of the total home loan amount and is available for a tenure of up to 30 years.
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