Fri Jul 04 14:23:57 UTC 2025: Okay, here’s a news article summarizing the provided text, focusing on the key information:
**Bank of Baroda Slashes Home Loan Interest Rates to 7.45%**
**MANGALURU, July 4, 2025** – Bank of Baroda announced a significant reduction in its home loan interest rates, dropping to 7.45% per annum, effective immediately. The bank is also waiving processing fees for new home loan applications. This move follows a previous rate cut in June, where rates were lowered from 8% to 7.50% in response to the Reserve Bank of India’s (RBI) policy rate easing.
According to a bank release, Sanjay Mudaliar, Executive Director of Bank of Baroda, stated the reduction is aimed at making home ownership more accessible and stimulating credit growth. “We continue to work towards our commitment of making home ownership more accessible. This latest reduction in our home loan interest rates is aimed at supporting the aspirations of citizens and stimulating credit growth. The bank continues to align its lending strategy with the evolving monetary policy environment with the intent to pass on rate benefits to customers while contributing to the broader economic objectives of boosting loan demand,” he said. The bank hopes the lower rates will boost loan demand and contribute to broader economic growth.
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