Mumbai: Bank of Baroda (Bank), one of India`s leading public sector banks, today announced the immediate transmission of the Reserve Bank of India`s (RBI) policy rate cut to its customers. The Bank has reduced its external benchmark-linked lending rates for loans catering to Retail and MSME segments, ensuring that customers benefit quickly from the RBI`s monetary policy move.
Additionally, the Bank’s Overnight Marginal Cost of Funds-Based Lending Rate (MCLR) stands at 8.15%, and its One-Year MCLR is 9%, positioning Bank of Baroda among the most competitive banks in the industry.
This move reaffirms Bank of Baroda`s commitment to providing credit on affordable rates to individuals and businesses, supporting broader economic growth and financial inclusion.