Public sector Bank of Baroda has given a big gift to its customers. On Monday, Bank of Baroda announced reduction in car loan rates.
New Delhi: If you are also planning to buy a car, then there is good news for you. Actually, public sector Bank of Baroda has brought the best offer for you. Bank of Baroda has reduced the interest rates on car loan. On Monday (26 February) the bank announced a cut in car loan rates. The new rates of the bank have come into effect from February 26, 2024.
Bank of Baroda reduced car loan rates by 0.65 percent and the rates have now come down from 9.4 percent to 8.75 percent. This is a limited time offer. You can avail the benefit of cheap car loan till 31st March. Under this offer, rebate in processing fees has also been announced. The bank gave information about this offer after the market closed.
Limited time offer
According to Bank of Baroda, this is a limited time offer. These rates will be applicable from 26 February 2024 to 31 March 2024. These rates are on purchase of new car. It will also depend on the credit profile of the car loan borrower as to what rate he will get the car loan.
Fixed rate offer also announced
Apart from this, Bank of Baroda also offers a fixed interest rate on car loan, which starts from 8.85 per cent. Apart from this, there will be rebate on processing fees on floating and fixed rate options. These loans will be offered for a maximum period of 84 months.
