Bank of Baroda Slashes Home Loan Rates to 8.15%* – Save BIG on EMIs Now!

Bank of Baroda has just made homeownership more affordable! With the recent RBI repo rate cut, the bank has reduced its home loan interest rates from 8.40% to as low as 8.15%*! Whether you’re a new buyer or an existing borrower, this rate cut means lower EMIs, big savings, and an excellent opportunity to own your dream home.

If you’re considering taking a home loan, now is the best time to act! Let’s explore the new rates, how much you save, and why this is a game-changer for borrowers.

Bank of Baroda’s Home Loan Interest Rates After Repo Rate Cut

Bank of Baroda has reduced its home loan interest rates from 8.40% to as low as 8.15%* after the recent RBI repo rate cut. This means more affordable EMIs and big savings for both new and existing borrowers.

Here’s a detailed look at the new interest rates effective from February 11, 2025:

CIBIL Score	Applicable ROI (p.a.)
800 and above	8.15%* onwards
751 to 799	8.35% onwards
726 to 750	8.60% onwards
701 to 725	8.80% onwards
Below 701	8.80% onwards

Note: An additional **0.05% interest is charged if insurance is not availed.

Suggested Read: RBI’s Repo Rate Cut

Extra Concessions Available:

• 0.10% discount for full disbursement
• 0.10% discount for borrowers under 40 years
• 0.05% discount for women borrowers

Source: Bank Of Baroda Home Loan Interest Rates

Bank of Baroda’s Old vs New Home Loan Interest Rates

Old Floating Interest Rates (Before Repo Rate Cut):

Category	Old Interest Rate
Salaried	8.40% – 10.60%
Non-Salaried	8.40% – 10.60%

New Floating Interest Rates (After Repo Rate Cut):

CIBIL Score	New Interest Rate
800 and above	8.15%* onwards
751 to 799	8.35% onwards
726 to 750	8.60% onwards
701 to 725	8.80% onwards
Below 701	8.80% onwards

Also Read: Bank Of Baroda Home Loan Documenst Required

What This Means for Existing & New Home Loan Customers

For New Home Loan Customers:

• Lower EMIs: With a minimum rate of 8.15%*, your monthly payments will be significantly reduced.
• Special Benefits for Women & Young Borrowers: You can qualify for even better rates with additional concessions.

For Existing Home Loan Customers:

• If you have a floating rate loan, your interest rate will automatically adjust to the new rates, leading to lower EMIs.
• If you’re on a fixed-rate loan, you may want to consider switching to a floating rate to take advantage of the reduced rates.

Also Read: Bank Of Baroda Home Loan Eligibility Calculator

How Much You Save With Bank Of Baroda’s New Home Loan Rates

Rajesh, a 35-year-old professional, is planning to buy his first home in Mumbai. He applies for a ₹80 lakh home loan for 20 years at Bank of Baroda. With a CIBIL score of 805, he qualifies for the lowest interest rate of 8.15%*, ensuring that he gets the best possible deal.

Before Rate Cut:

• Interest rate: 8.40%
• Monthly EMI: ₹68,976
• Total Interest Paid Over 20 Years: ₹85,54,240

After Rate Cut (8.15%*):

• Interest rate: 8.15*%
• Monthly EMI: ₹67,904
• Total Interest Paid Over 20 Years: ₹84,16,960

Total Savings:

• Monthly EMI savings: ₹1,072 per month
• Total savings over 20 years: ₹1,37,280!

Note: By opting for Bank of Baroda’s new reduced interest rates, Rajesh can save over ₹1.37 lakh in total interest costs, making his home loan much more affordable!

Check Out: Bank Of Baroda Home Loan EMI Calculator

Home Loan Interest Banks by Top Banks

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.00% p.a. onwards	8.00% p.a. onwards	8.00% p.a. onwards
HDFC Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards
Punjab National Bank	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.	8.50% – 11.05% p.a.
Bank Of Baroda	8.40% onwards	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-10.30% p.a.	8.75%-10.30% p.a.	8.75%-10.30% p.a.
Bank of India	8.40% p.a onwards	8.40% p.a onwards	8.40% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards

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Conslusion

With Bank of Baroda’s new home loan rates, borrowers can save lakhs on EMIs over the loan tenure. The reduced starting rate of 8.15%*, combined with special concessions, makes it one of the most competitive home loan offerings in India today.

Frequently Asked Questions