Know about the changed rules of bank home loan
Thursday, August 27, 2020
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Today we are going to give you information about the bank which will be beneficial for you and your family too. Bank of Baroda, which is India's largest bank, has introduced new rules for its customers.
We will tell you those rules. The bank has increased the risk premium on loans for its new customers. If you explain clearly, now it will be expensive to take a loan from Bank of Baroda. Along with this, the bank has also tightened its lending policy. BoB Bank has also included good credit score in the lending rules. As per the new policy of the bank, the bank will charge a higher risk premium from customers with lower credit scores.
Home loan at the lowest rate In such a situation, Bank of Baroda used to offer home loans at low interest rates (interest rate) in the name of repo linked lending rate. Many people take lawns in Bank of Baroda. Through this, the bank used to give home loans to customers with CIBIL score 726 or more at the lowest rate. Let us tell you that the bank scores the credit score ie your credit score. Whenever someone has to give these, then the bank's score comes out. The bank's BRLLR stood at 6.85 percent in July 2020. After that everything started going away and today we are telling you the situation.
But now from August 2020, the bank made it mandatory to have CIBIL score 775 or more for home loans at this rate. You have to make a lot of credit for this. Then you can get a loan. Today we are telling you about the new news of the bank. The BRLLR of the bank is currently 7 percent. At the same time, the bank believes that lending to customers with good credit score is the best. All banks in India are operated by Reserve Bank. Apart from this, there are many changes in the rules of the bank. We keep giving you as many new posts as we can.
Higher risk premium on loan Accordingly, Bank of Baroda is giving loans at different interest rates to customers with low credit scores. You can get many such news from us. The bank is charging a higher risk premium on loans from customers with lower credit scores. Till now the bank had placed customers with civil scores 701 to 725 in the second slab.
Earlier, the bank was charging 0.25 percent risk premium from such customers above the Baroda Repo Linked Lending Rate. Now the bank has placed Cibil score between 726 and 775 customers in the second slab. The bank is charging 10 basis points higher, ie 0.35 percent risk premium from such customers. If the information given by us is good, then it should be shared in social media.
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