Bank Of Baroda Slashes Repo-linked Lending Rate By 75 Bps
Money & Banking
Bank of Baroda (BoB) has reduced its repo-linked lending rate (RLLR) by 75 basis points to 7.25 per cent effective March 28, 2020, from 8 per cent earlier.
With this cut, all new floating rate loans ― personal loans and retail loans of all asset classes, and micro, small and medium enterprises (SMEs) ― linked to RLLR will be cheaper to that extent.
The public sector bank said the downward revision in RLLR is in line with the reduction in Reserve Bank of India’s repo rate to 4.40 per cent from 5.15 per cent.
For existing loans, the interest rate under the external benchmark will be reset at monthly intervals linked to RLLR, BoB said in a statement. There has been no change in the mark-up/base spread or strategic premium, it added.
Vikramaditya Singh Khichi, Executive Director, said, “We encourage customers to avail of the credit lines that have been opened and assure that the bank is available at all times to meet all the credit requirements in the most convenient way.”
Published on
March 30, 2020
Bank of Baroda (BoB) has reduced its repo-linked lending rate (RLLR) by 75 basis points to 7.25 per cent effective March 28, 2020, from 8 per cent earlier.
With this cut, all new floating rate loans ― personal loans and retail loans of all asset classes, and micro, small and medium enterprises (SMEs) ― linked to RLLR will be cheaper to that extent.
The public sector bank said the downward revision in RLLR is in line with the reduction in Reserve Bank of India’s repo rate to 4.40 per cent from 5.15 per cent.
For existing loans, the interest rate under the external benchmark will be reset at monthly intervals linked to RLLR, BoB said in a statement. There has been no change in the mark-up/base spread or strategic premium, it added.
Vikramaditya Singh Khichi, Executive Director, said, “We encourage customers to avail of the credit lines that have been opened and assure that the bank is available at all times to meet all the credit requirements in the most convenient way.”
Published on
USAA To Expand Workforce In Chesapeake To Support Growing Membership
Company adding more than 500 employees in the area over the next two years Read more
USAA Advocates For Safe Driving Habits During 100 Deadliest Days Of Summer For Teens
New Safe Driving Simulator virtual experience helps drivers identify bad habits ahead of summer travels Read more
USAAs Poppy Wall Of Honor® Returns To National Mall For Sixth Year To Honor And Remember Fallen Service Members
Enhanced experience provides immersive storytelling to illustrate all that was given in service to our country Read more
USAA Appoints Brian Goldman As Chief Risk Officer
USAA announced today the appointment of Brian Goldman as its new Chief Risk Officer, effective May 27. Read more
Strong Financial Performance Reflects USAAs Unwavering Commitment To Members And The Military Community
Association added 1 million new members and continued to serve the military community and their families through enhance... Read more
USAA And The Valero Texas Open Join Forces To Honor Military Heroes
Service Members and Veterans to Receive Exclusive Benefits and Complimentary Access Read more