India, Feb. 9 -- Bank of Baroda (BoB) on Monday announced a 30-basis-point cut in its car loan interest rates, with immediate effect, in a move aimed at boosting retail credit demand.
Following the revision, the bank's floating rate on car loans now starts at 7.6 per cent per annum, BoB said in a statement. The lender also continues to offer fixed-rate car loans, with interest rates beginning at 8.5 per cent per annum.
The reduction is expected to make vehicle financing more attractive for customers amid improving market sentiment.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....