Bank of Baroda cuts interest rates on home and auto loans: details inside

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Business

oi-Vipul Das

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To celebrate the current holiday season, Bank of Baroda has announced a reduction in interest rates on its home loans and auto loans. The lender grants a concession of 0.25% on the applicable rates in effect for home and auto loans. After the announcement, mortgage rates will now start at 6.75%, while auto loan rates will start at 7.00% according to the bank’s official update via its Twitter account. The lender said, “This holiday season, karo #KhushiyonKaShreeGanesh as #BankofBaroda is offering a 0.25% concession on the existing interest rate. Get a 6.75% home loan and a 7% car loan. , 00%. Offer valid until December 31, 2021. “

Bank of Baroda, winner of the “Best Technology Bank” among large banks at the IBA Banking Technology 2021 conference and first bank in the MEITY FY21 digital payments ranking index, recently announced the launch of its platform. ‘Bob World’ digital banking form, which aims to provide a comprehensive and immersive digital banking experience covering all of its digital banking services under one platform.
“This ‘bob World’ platform is designed to offer a wide range of banking products and services, to be rolled out in phases, under its four key pillars of Save, Invest, Borrow, Shop,” said BoB.

According to the Bank of Baroda announcement, “The app will offer a large directory of more than 220 converged services in a single app, covering nearly 95% of all retail banking offerings, which customers will be able to access, both nationally and globally. With 24/7 accessibility for customers, the app will make it easy and convenient for customers to save, invest, borrow and buy. The app aims to provide an intuitive experience for customers and is carefully designed to balance the needs of millennial users with those of more experienced customers. “

BoB said in the statement that “‘bob World’ offers 10-minute digital account opening with instant virtual debit card issuance, online loan application with instant disbursement for certain loan products, shopping experience top-notch with exciting rewards through digital interactions. and many other benefits including organized investment products. “bob World” has integrated e-commerce as a major pillar of its proposition to provide customers with a healthy banking experience and rewarding and beyond, under one roof. ”

“Since the pilot launch of ‘bob World’ on 23.08.2021, the app is already used by more than 50 lakhs of users, of which 70% of users gave the app ‘bob World’ a 5 star rating. on Play Store / App Store, ”added the bank.

“The new corporate sub-brand for digital is a testament to our commitment to serving customers around the world, digitally and 24/7. With “bob World”, we offer all of our digital offers under one roof so that the customer benefits from all digital services under one roof with a consistent experience. Integrated finance is an important theme in the ‘bob World’ app, as is the rewarding loyalty program, which underpins all digital interactions with the bank, ”said Mr. Sanjiv Chadha, Managing Director and CEO of Bank of Baroda on the occasion of the launch of “bob World”.

Article first published: Friday September 17th, 2021, 10:13 AM [IST]

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