state ownership Bank Of Baroda reduced yourself on friday home loan rates By 25 basis points to 8.25 per cent and also waived processing fee under the limited period offer. At 8.25 per cent, the BoB rate is lower than that of the segmental leaders State Bank Of India And HDFCWhose new price is 8.40 percent, which has been announced before Diwali and till the end of December.

The BoB said the new rate would be applicable from next Monday and would be effective till the end of December.

“Ours is one of the least and most competitive home loan In addition to 25 bps relaxation in interest rates in the industry now Rate of interestWe are also completely waiving the processing charges,” HT Solanki, General Manager – Mortgage & Retail Property at the bank, said.

He said the new rates will also be applicable for those who want balance transfer and the particular rate is linked to the credit profile of the borrower.

“This year we have seen a strong growth in home loans with strong demand in cities and consumer confidence driving home sales. We expect this concessional rate to drive the already high demand,” he added.

Last month, despite rising interest rates, SBI and HDFC as part of their festive offerings announced relaxation in interest rates starting from 8.40 per cent.

SBI is offering a concessional interest rate of up to 25 bps to new home loan borrowers, taking the entry-level rate to 8.40 per cent and the offer will last till January 2023 while HDFC offered the new rates 20 bps lower to 8.40 per cent. and is valid till the end of November.