Bank of Baroda cuts lending rate by 10 basis points; loans to be cheaper

Bank of Baroda cuts lending rate by 10 basis points; loans to be cheaper

State-owned Bank of Baroda (BoB) Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 10 basis points across all tenors up to one year.

The new rates are effective from March 7, BoB said in a regulatory filing.