BOB not to raise home loan rates

Bank of Baroda has ruled out immediately raising lending rates, including home loans, but is looking to hike the corporate loan rates.

Bank of Baroda on Wednesday said it has ruled out immediately raising lending rates, including home loans, but is looking to hike the corporate loan rates.

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"We are not changing interest rates instantaneously and we have no plans to change home loan rates," Bank of Baroda Chairman AK Khandelwal said.

However, he said the bank will persuade corporates to give better rates that will be within the range of prime lending rates.

The bank is planning to launch a stock broking arm and several wealth management products by the year-end.