We are talking in reference to Bank of Baroda (BoB) which has slashed home loan rates by 70 basis points to 8.35 per cent. This is applicable for customers having a strong Cibil scores. At 8.35 per cent, the rate is lower than industry leader SBI’s 8.5 per cent offer.
A BoB official said a customer with a Cibil score of 760 and above will be offered the lowest rate of 8.35 per cent. For those with a lower Cibil score rate would be higher, up to 100 basis points.
So, if you have been looking to cash in on your higher Cibil score now is the time to make a switch. Do check the switching cost from the bank. You can check the ways to improve the Cibil score here.