Bank of Baroda highlights its festive season retail offers for their customers which has been fueled further by reduction in lending rates through the launch of its Ad Media Campaign “Hum Karein Mumkin” – an umbrella advertising for Retail Loan products (Home loan & Car loan) in Television and Radio & digital mediums. Through the campaign, the bank aims to have a widespread reach about its discounted pricing and ease of borrowing during the festive season.
The bank has revised its marginal cost of funds based lending rate (MCLR) by 0.05% across all tenors with effect from November 12, 2020. Earlier this month, the bank had announced reduction in Baroda Repo Linked Lending Rate (BRLLR) from 7% to 6.85% with effect from November 1, 2020.
The bank recently launched its umbrella campaign on “Hum Karein Mumkin” for retail loans which covers home & car loan products to promote festive offers across multiple channels pan India. The bank promotes attractive rate of interest, easy loan takeover @0.25% concession in ROI, 100% waiver on the processing fee with longer tenure with high amount of eligibility and zero foreclosure changes for home loan and car loan. This initiative is undertaken to ease the life of customers with exciting offers offered by the bank and to create one stop shop solution for them.
Speaking on the initiatives Mr. Purshotam, Chief General Manager – Retail Liabilities, WMS, Marketing, Demat & NRI Business said, “The festive season has been a source of positivity despite the challenges faced by people from the pandemic. In an attempt to add to the joy of our existing loyal customers and new customers, we at Bank of Baroda have bundled several festive offers with the reduced lending rates to facilitate their purchases at an attractive price point. It is the bank’s continuous endeavor to provide better value propositions to one and all.”