Home Loan Offer: Bank of Baroda Announces 7.45% Rate and No Processing Fee

In a major relief for home loan seekers, Bank of Baroda has announced a further reduction in its home loan interest rate, bringing it down to 7.45%, from the earlier 7.50%. Alongside this, the public sector bank has also waived the processing fee for new loan applications, making it a compelling time to opt for a home loan.

Second Rate Cut in Weeks

This move follows a recent rate cut in June, when the bank slashed interest rates from 8.00% to 7.50%, shortly after the Reserve Bank of India (RBI) reduced its repo rate. The latest revision brings more savings for borrowers and is expected to boost demand in the housing sector, aligning with the government's broader push to make home ownership more accessible.

Zero Processing Fee for New Applicants

As part of its customer-centric approach, Bank of Baroda has also removed the processing fee for new home loan applicants. Previously, the bank charged up to 0.50% of the loan amount (capped at ₹15,000 + GST). This fee waiver adds to the financial benefit for prospective buyers, reducing upfront costs significantly.

Easy Application Process – Online or Offline

Applicants can now apply digitally via the Bank of Baroda’s official website or visit a nearby branch. The bank aims to make the entire loan process smoother, faster, and more transparent for customers.

Boost to Housing Market

Industry experts believe this rate cut and fee waiver will encourage more people to invest in property, providing a much-needed stimulus to the Indian real estate market. With lower EMIs and reduced processing costs, the bank’s latest offering is a timely opportunity for first-time homebuyers and investors alike.