After SBI, Bank of Baroda has now made loans cheaper


After SBI, Bank of Baroda has now made loans cheaper, benefit home and auto borrowers.


 A day after the Reserve Bank of India's monetary policy announcement, India's largest bank SBI cut its lending rates, while now the public sector Bank of Baroda (BoB) raised its marginal cost based interest rates (MCLR) on Monday.  Announced a deduction of up to 0.10 percent.  The new rates will be applicable from 12 February.  

Housing, vehicles and other loans will be cheaper for new customers taking loans with this deduction of the bank.  The day after the Reserve Bank of India's monetary policy announcement, India's largest bank SBI cut its lending rates, making home and auto loans cheaper.

SBI has also cut its fixed deposit or FD rates.  But at the same time the interest on FD is also reduced.  The new rates come into effect from 10 February 2020.  SBI has announced a reduction in Marginal Cost of Lending Rate (MCLR) for the financial year 2019-20 for the ninth consecutive time.


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