Bank of Baroda slashes car loan rates by 30 basis points to 7.6%

Bank of Baroda has lowered its car loan interest rates. The floating rate now begins at 7.6 percent annually. A fixed rate option starts at 8.5 percent per annum. These new rates apply to new car purchases and depend on the borrower's credit profile. Borrowers also enjoy zero prepayment charges on floating rate loans.