State-run Bank of Baroda (BoB) announced a 15 basis points reduction in its repo-linked lending rate to 6.85 per cent from 7 per cent earlier, effective November 1.
The lender's retail loans- home loan, mortgage loan, car loan, education loan and personal loan are linked to its Baroda Repo Linked Lending Rate (BRLLR).
Earlier ahead of the festive season, the bank had announced concessions in interest rates on home loan and car loan.
With the current revision in BRLLR, home loan rates will start at 6.85 per cent and car loan rates at 7.10 per cent, mortgage loan rates at 8.05 per cent and education loan rates at 6.85 per cent, the bank said in a release.