Mumbai, March 15: State-run Bank of Baroda announced a 10 basis points reduction in its repo-linked lending rate from 6.85 per cent to 6.75 per cent, effective from Monday.

With this revision in Baroda Repo Linked Lending Rate (BRLLR), the lender is offering home loans at a rate starting from 6.75 per cent and car loans beginning from 7 per cent. Mortgage loan rates will start at 7.95 per cent and education loans at 6.75 per cent, the bank said in a statement. India's WPI Inflation Rises to 4.17% in February 2021 on Costlier Food, Fuel.

"This reduction in BRLLR makes our loans more affordable for customers. We hope that our efforts towards the digital processes help customers avail quick and smooth loans at the most competitive interest rates,” the bank's General Manager (mortgages and other retail assets) Harshadkumar Solanki said.