Jammu Tawi:Bank of Baroda (Bank), one of India's leading public sector banks, has announced a reduction in its Car Loan interest rates starting from 8.75% p.a. (earlier 9.40% p.a.).
This is a special limited period offer on Baroda Car Loans Floating rate of interest, starting from February 26, 2024 till March 31, 2024. The Bank also offers an attractive fixed rate of interest on Baroda Car Loans, starting at 8.85%* p.a.The new rate beginning at 8.75% p.a. is applicable on the purchase of a new car and is linked to a borrower's credit profile. Additionally, the Bank is offering borrowers zero prepayment charges on the Floating rate of interest option and a concession in processing charges on both. Sanjay Mudaliar, Executive Director, Bank of Baroda said, “We are continuing to see strong demand for car ownership with passenger vehicle sales peaking in January 2024 on the back of a sustained improvement in the Indian economy, rising aspirations and consumer confidence.
Bank of Baroda is one of the leading car financiers in the country and customers can make the most of our special year-end offer on Baroda Car Loans and own their dream car.”
