Bank of Baroda cuts automobile, mortgage mortgage rates of interest

Bank of Baroda on Thursday (August 28, 2025) has introduced a discount in its automobile mortgage rates of interest. Its floating automobile mortgage rates of interest now begin from 8.15% p.a. (earlier 8.40% p.a.), with quick impact.

“The price reduce is over and above the speed discount by the financial institution submit the 100 foundation factors reduce within the coverage repo price by the Reserve Bank of India (RBI). The new price starting at 8.15% p.a. is relevant on loans for the acquisition of a brand new automobile and is linked to a borrower’s credit score profile,” the financial institution mentioned in an announcement.

The financial institution has additionally decreased rates of interest on mortgage loans (Loan Against Property) from 9.85% p.a. to 9.15% p.a. with sure circumstances, with quick impact.

Sanjay Mudaliar, Executive Director, Bank of Baroda, mentioned, “The festive season is an auspicious time for brand new beginnings, with many households seeking to fulfil their aspirations of proudly owning a brand new automobile. We are happy to introduce a particular supply on our automobile mortgage charges that makes automobile possession extra accessible and inexpensive.”

“In addition, our mortgage mortgage providing is now much more aggressive, giving an important alternative to unlock greater worth for property, and clients can elevate further funds with a discount in rates of interest from 55 bps to 300 bps relying on CIBIL rating,” he added. 

The financial institution has additionally provided mounted price of curiosity on automobile loans, linked to it’s 6-month MCLR, beginning at 8.65% p.a.