Bank of Baroda hikes lending rates

By IANS,

Mumbai : The state-owned Bank of Baroda Monday raised its benchmark prime lending rate by 75 basis points to 14 percent with immediate effect.

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In a regulatory statement, the bank said the revision will not be applicable to existing home, education, vehicle loans and new home loans up to Rs.3 million.

However, the interest rates on new home loans of more than Rs.3 million and new auto and consumer loans would go up by 50 basis points, the statement added.