Bank of Baroda offers simplified balance transfer program for home loans on back of lowest interest rates
Mumbai: Bank of Baroda, India’s leading public sector bank continues to maintain the lowest rate of interest among all public/private Banks/NBFCs /HFCs for home loans. It starts from 8.35%.
Further to the interest rates being the lowest, Bank of Baroda has been focusing on strategies to improve the home loan business growth through ‘balance transfers’. The Bank has simplified the document requirements for balance transfers and offers additional funding options with quick sanctions for such cases of home loans through its wide branch network. The program, from the time of launch, has seen a lot of balance transfer requests from customers running home loans with other public/private sector banks and NBFCs/HFCs.
The home loan balance transfer program of Bank of Baroda is also coupled with a top-up loan option. It comes in form of additional cash out to the customers or increased tenure such that the EMI remains constant. Bank of Baroda is one of the leading banks to offer such top-up loan at competitive pricing in addition to competitive rates on balance transfer product.