BoB introduces Fixed Rate of Interest option on Baroda Car Loans

Jammu Tawi: Bank of Baroda (Bank), one of India's leading public sector banks, announced the introduction of a fixed rate of interest on Bank of Baroda Car Loans. Borrowers now have the option of choosing between fixed and floating rate of interest on Baroda Car Loans, based on their preference.The fixed rate of interest for Baroda Car Loans is pegged to the Bank's 1-year MCLR and is applicable for purchase of a new car, including Electric Vehicles. Harshadkumar T Solanki, General Manager – Mortgages & Other Retail Assets, Bank of Barodasaid, “We are pleased to introduce a fixed rate of interest option on car loans, giving borrowers the flexibility to choose between a fixed and floating rate of interest. A fixed rate of interest that will remain unchanged across the duration of the loan will eliminate the impact brought about by the fluctuation inthe interest rate. The addition of a Fixed ROI option makes Baroda Car Loans even more competitive and attractive.” Applicants can apply and avail a Bank of Baroda Car Loan digitallyby visiting the Baroda Digital Car Loanpage on the Bank's website or applying through the Bank's mobile app – bob World or by visiting the nearest bank branch.