Rate of Interest for Retail Loans based on Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 01.04.2016.
In terms of RBI guidelines, effective from 01.04.2016, pricing of all rupee loans and advances linked to Marginal Cost of Funds Based Lending Rate (MCLR).
Rate of Interest under all Retail Loans are linked to 1 year MCLR from 1st April, 2016.
Existing borrowers of the Bank shall have an option to switch over from Base Rate system to interest rates linked to MCLR (other than Fixed Rate Loans). Borrowers willing to switch over to the MCLR based interest rate may contact the respective branch.
| Sr. No. | Product | Rate of Interest linked with MCLR |
|---|---|---|
| 1 | Baroda Home Loan & Baroda Home Improvement Loan | One year MCLR to One year MCLR +1.00% (As per Risk Rating of the applicant/s.) |
| Baroda Home Loan Advantage | Upto Rs 75.00 Lacs : Normal Home Loan Rate Above Rs 75.00 Lacs: 0.25% over Normal Home Loan Rate | |
| Baroda CRE Home Loan | 0.25% over Normal Home Loan Rate | |
| Baroda CRE Home Loan (Advantage) | Upto Rs 75 Lacs : 0.25% over Normal Home Loan Rate Above Rs 75 Lacs : 0.50% over Normal Home Loan Rate | |
| Baroda Top Up Loan (Resident/NRIs/PIOs0) | Applicable ROI on Home Loan + Strategic Premium + 0.50% | |
| Note: Additional Risk Premium @ 0.05% over and above applicable rate of interest on all variants of Home Loans including Top Up Loans. However, this additional Risk Premium can be waived as an incentive to the borrower who provide credit insurance cover for the loan for entire tenure of the loan. | ||
| 2 | Baroda Mortgage Loan | Tenor upto 120 Months Rate of Interest Tenor above 120 Months Rate of Interest One year MCLR +Strategic Premium+0.95% to One year MCLR+ Strategic Premium+3.50% One year MCLR +Strategic Premium+1.20% to One year MCLR+ Strategic Premium+3.75% |
| 3 | Baroda Mortgage Loan – Non Individuals | Security Margin Tenor up to 120 Months Rate of Interest Tenor above 120 Months Rate of Interest Up to 50% MCLR + Strategic Premium + 1.45% MCLR + Strategic Premium + 1.70% Above 50% MCLR + Strategic Premium + 1.70% MCLR + Strategic Premium + 1.95% |
| 4 | Baroda Traders Gold Card Scheme | 50 bps over applicable ROI on the sanctioned Overdraft facility under Baroda Traders Loon |
| 5 | Baroda Ashray (Reverse Mortgage Loan) | One year MCLR + Strategic Premium + 1.75% |
| 6 | Baroda Vidya (For School Education from Nursery to XII) | Baroda Vidya 1 year MCLR + Strategic Premium + 2.50%, 0.5% Concession for girl students |
| Baroda Gyan (For Higher Studies in India) | Baroda Gyan 1 year MCLR+2.00% p.a. (Including SP) – Irrespective of Loan Amount, 0.5% Concession for girl students. | |
| Baroda Education Loan to Students of Premier Institutions (For Studies in India)(For Regular courses) | List-AA, A, B and C | |
| For List-AA Institutions : 1 year MCLR No special concession for girl students under this scheme. | ||
| For List A Institutions : 1 year MCLR No special concession for girl students under this scheme. | ||
| For List-B Institutions Upto Rs.7.50 Lacs : 1 year MCLR + 0.75% Spread ( Including SP) Above Rs.7.50 Lacs: 1 year MCLR +0.50% Spread ( Including SP) No special concession for girl students under this scheme. | ||
| For List-C Institutions Rs.7.50 Lacs : 1 year MCLR + 1.50% Spread ( Including SP) Above Rs.7.50 Lacs: 1 year MCLR +1.25% Spread ( Including SP) No special concession for girl students under this scheme. | ||
| Baroda Education Loan to Students of Premier Institutions (For Studies in India)(For Executive Development Program) | List-AA, A, B and C | |
| For List-AA Institutions : 1 year MCLR No special concession for girl students under this scheme. | ||
| For List A Institutions : 1 year MCLR No special concession for girl students under this scheme. | ||
| For List-B Institutions Upto Rs.7.50 Lacs : 1 year MCLR + 0.75% Spread ( Including SP) Above Rs.7.50 Lacs: 1 year MCLR +0.50% Spread ( Including SP) No special concession for girl students under this scheme. | ||
| For List-C Institutions Upto Rs.7.50 Lacs : 1 year MCLR + 1.50% Spread ( Including SP) Above Rs.7.50 Lacs: 1 year MCLR +1.25% Spread ( Including SP) No special concession for girl students under this scheme. | ||
| Baroda Scholar(For Studies Abroad)(For regular Courses) | List of Specified Premier Institutions in Abroad | |
| For Institutions specified in List of Premier Institutions : 1 year MCLR + 1.25% Spread (Including SP)– (Irrespective of loan amount). | ||
| For Institutions not specified in List of Premier Institutions : 1 year MCLR + 2 % Spread (Including SP – Irrespective of loan amount). | ||
| 0.50 % Concession for girl students. | ||
| Baroda Scholar (For Studies Abroad)(For Executive development Programm) | List of Specified Premier Institutions in Abroad | |
| For Institutions specified in List of Premier Institutions : 1 year MCLR + 1.25% Spread (Including SP)– (Irrespective of loan amount). | ||
| For Institutions not specified in List of Premier Institutions : 1 year MCLR + 2 % Spread (Including SP – Irrespective of loan amount). | ||
| 0.50 % Concession for girl students. | ||
| Baroda Skill Loan Scheme | 1 year MCLR + 1.50% spread (Including SP) | |
| 7 | Baroda Auto Loan | Car Loan: From One year MCLR + Strategic Premium + 0.25% To FROM BRLLR + SP + 0.25 TO BRLLR + SP + 3.25% (As per Risk Rating of the applicant/s.) Car Loan to Corporate : One year MCLR + Strategic Premium + 0.25% Pre-Owned Car Loan:FROM BRLLR + SP + 2.50 TO BRLLR + SP + 5.50% (As per Risk Rating of the applicant/s.) Two Wheeler Loan : BRLLR + Strategic Premium + 4.25% Staff/Ex-Staff (Car Loan/ Two wheeler Loan): BRLLR + SP |
| 8 | Baroda Advance Against Securities | |
| Against NSC / KVP | Loan | One year MCLR + Strategic Premium + 3.50% or 0.50% over NSC / KVP rate, whichever is higher |
| Overdraft | One year MCLR + Strategic Premium + 4.00% or 0.75% over NSC / KVP, whichever is higher | |
| Against Life Insurance Policy / Relief Bonds | Loan | One year MCLR + Strategic Premium + 3.50% |
| Overdraft | One year MCLR + Strategic Premium + 4.00% | |
| Advance Against Gold Ornament / Jewellery/Gold Coins | One year MCLR + Strategic Premium + 3.00% | |
| 9 | Baroda Personal Loan | (A) ROI for employees of Central / State Govt., Autonomous Bodies, Public/ Joint Sector Undertakings & Educational Institutions with minimum continuous service for -1- year and having salary account with our Bank : Ranging from One year MCLR+SP+3.00% to One year MCLR +SP+6.00% (As per Risk Rating of the applicant/s.)(B) ROI for all other cases not covered in Point (A) above and having minimum -6- months account relationship with our Bank : Ranging from One year MCLR+SP+3.00% to One year MCLR +SP+6.00% (As per Risk Rating of the applicant/s.)(C) Other cases : i.e. for applicants having account relationship with other Bank at least for -6- months and not covered under Point (A) & Point (B) : Ranging from One year MCLR+SP+5.00% to One year MCLR +SP+8.00% (As per Risk Rating of the applicant/s.) |
| Loan for Earnest Money Deposit | One year MCLR + 3.25% | |
| Baroda Home Loan Suraksha Personal Loan | As applicable to Home Loan account for which funding of Insurance Premium amount | |
| 10 | Baroda Loan To Pensioners | One year MCLR + Strategic Premium + 2.00% For Retired Bank of Baroda/ their Family pensioners: One year MCLR + Strategic Premium |
| 11 | Baroda Loan for Subscription to Public Issue/IPO | One year MCLR + Strategic Premium + 3.75% |
| 12 | Loan/OD Against Banks Own Deposits (LABOD/ODBOD) | |
| For Public/ Senior Citizen/Staff (against Resident Deposits) | 1.00% over Interest Rate on Fixed Deposit | |
| Advance Against the securities of third party FDRs (against Resident Deposits)- | 1.00% over Deposit rate or One year MCLR + Strategic Premium + 0.25% whichever is higher. | |
| 13 | Baroda Loan Against future Rent Receivables | For Landlords of BOB Branch Premises One Year MCLR+ Strategic Premium+1.25% For others One Year MCLR+ Strategic Premium+3.25% |
Marginal Cost of funds based Lending Rate (MCLR)
MCLR rate w.e.f from 12-10-2022
| Sr. No. | MCLR Benchmark | MCLR in (%) |
|---|---|---|
| 1 | Overnight MCLR | 7.10 |
| 2 | 1 Month MCLR | 7.60 |
| 3 | 3 Month MCLR | 7.65 |
| 4 | 6 Month MCLR | 7.80 |
| 5 | 1 Year MCLR | 7.95 |
| Base Rate (per annum) w.e.f. 12.10.2022 | 8.60% p.a |
Our BPLR for all the existing accounts is 12.90% per annum w.e.f from 12.10.2022