Bank of Baroda, the only Indian bank present in mainland of UAE with its six branches, nine EBSUs and 47 ATMs, has substantially reduced housing loans interest rates as UAE residents are constantly looking at good deals and exploring payment options in this real estate market.
As average residential sales prices in the UAE are witnessing a downward trend, the reduced interest rates will only make it more convenient for the buyer to afford homes. Reduced rates and affordable properties continue to attract home buyers, but affordability remains a challenge with rising living costs, inflation and the looming new VAT regime. The bank's new reduced interest rates will propel the banking retail market offering home buyers attractive payment plans.
Bank of Baroda is expanding its retail portfolio by offering competitive interest rates across its retail portfolio, which includes home loans for UAE, mortgage loans, personal loans and auto loans. End-users who are relying on mortgage borrowing will benefit from the new, reduced rates to fund their purchase. - business@khaleejtimes.com
Published: Fri 2 Mar 2018, 2:56 PM
Updated: Fri 2 Mar 2018, 5:03 PM
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