New Delhi: Several banks are giving a stiff competition to each other in the home loans segment this festive season. The home loan segment is dominated by banks that give lucrative offers with the rate of interest being the key element for buyers to choose a particular bank's home loan.
Bank of Baroda is offering home loans to customers at the lowest interest rate i.e. 6.50 percent and why it is best for retail loans at present, Executive Director of Bank of Baroda Vikramaditya Singh Khichi spoke to Anurag Shah in details.
Excerpts...
Best time for retail loan offers are out, while the home loan at 6.50% offers lowest interest rate. There are also offers also for customers with balance transfer
The Bank is also giving other attractive deals for its customers like zero processing charge on home loan while the retail loan offers open during the festive season.
With the gradual turnaround in the economy, there is an increase in demand while the reality sector looks towards recovery in economy.
Customers can use the facilities and services of BoB World Digital Banking Platform. BoB is offering over 220 simultaneous services on the BoB World app. The BoB World is a super app and an all in one platform.
Current property prices at 10-year low and the interest rates too are at the lowest level. BOB executive says that it is the best time for retail, MSME loan. Buyers can take benefit of lower interest rates for the next few years.
There is benefit of reduction in interest rates for all types of customers. Bank is offering better interest rate of 6.55% for MSME. The Loan disbursement process is through CIBIL score. Customers can als avail Car Loan at 7%, Education Loan at 6.5% and Personal Loan at 9.75%.
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