Bank of Baroda lowers Baroda Repo Linked Lending Rate by 75 bps
New Delhi/IBNS: Bank of Baroda, a public sector lender, has reduced its Baroda Repo Linked Lending Rate (BRLLR) by 75 basis points with effect from March 28, 2020.
The BRLLR linked to RBI Repo Rate is revised downwards in line with the reduction on Reserve Bank of India Repo Rate from 5.15% to 4.40% after the central bank slashed it by 75 basis points earlier this week.
Speaking on the reduction on BRLLR Shri Vikramaditya Singh Khichi, Executive Director, said “Bank of Baroda has immediately transmitted interest rate changes announced by the Reserve Bank of India to its customers. We encourage customers to avail of the credit lines that have been opened and assure that the Bank is available at all times to meet all the credit requirements in the most convenient way.”
The BRLLR for all new floating rate loans for all personal loans and retail loans of all asset classes and floating rate loans to Micro, Small and Medium Enterprises, shall be 7.25% w.e.f March 28, 2020.