Date:11/08/2005 URL: http://www.thehindubusinessline.com/2005/08/11/stories/2005081102940600.htm

Back BoB retail loans cheaper

Our Bureau

Mumbai , Aug. 10

BANK of Baroda has reduced interest rates on retail loans. These include housing, car loan and traders loan.

The new rates will be effective from August 1.

In a press release here today, the bank said the rate cut was being effected to achieve an incremental market share before the ensuing festive season.

The revised rates would be applicable only on new loans and for old loans with floating rate option.

The drop in housing loan varies from 25 basis points under floating rate to 50 basis points under fixed rate option for five years and above.

The new floating rates on housing loans for above five years and up to 15 years is 8.25 per cent.