Festive Season EMI Savings 2025: Customers have got a big relief before the festive season. Interest rates have been cut on short-term loans for BOB customers, making EMI now lighter than before. The house, car or personal shopping will become easier.
Festive Season EMI Relief: Everyone’s shopping list gets long as the festive season arrives. New clothes, gadgets, furniture, cars, bikes or home decorations, everyone’s ‘Wishlist’ is ready. But EMI’s tension is a little faded. If you are a customer of Bank of Baroda Bank, then there is news of relief for you. Your EMI will become cheaper from Thursday, September 12. Know the details …
Bank offer Baroda reduced interest rates
Before the festive season, the Bank of Baroda has announced a cut in MCLR (Marginal Cost of Funds Based Lending Rate), giving great relief to its customers. The new rates will be applicable from 12 September 2025. This will have a direct impact on your home loan, car loan and personal loan EMI.
What has changed in BOB?
Overnight MCLR: 10 basis points reduced to 7.85% now
3 months MCLR: 8.20% now reduced by 15 basis points
1-6 months MCLR: No change (7.95% and 8.65% intact)
1 year MCLR: No change (stable at 8.80%)
Who will benefit from decreasing MCLR?
- Those who have taken a short-term loan, such as personal loan, business loan or working capital loan, then their EMI will now be light.
- Those who take new loans will also benefit at low interest rate.
- There is no relief at the moment on long loans i.e. 6 months or 1 year.
Bank offer why Baroda reduced MCLR?
Bank of Baroda has taken this step for three important reasons. Liquidity has increased in the market, which has more cash available with banks. The pressure on interest rates has also decreased, making it easier to borrow and expected to increase loan demand in the festive season, so customers can be provided loans cheaply.
Why the good news for the bank customer?
The good news for bank customers is that when people take loans for home, car, business or personal expenses at the time of festivals, EMI also decreases due to low interest rates, that is, it becomes easier to take loan, EMI burden becomes lighter and big expenditure can be planned comfortably.
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