Public-sector lender, Bank of Baroda has seen its home loan portfolio growing by 23-25 per cent during April-November, and expects the growth to pick up further in the next quarter, a BB official said.

"From April to November, 2009, the growth (in home loans) has been a healthy 23-25 per cent. We expect this momentum to continue in the coming quarter as well," the official said.
The bank, however, did not have any immediate plans to follow its competitors to offer home loans at 8 per cent but may look at the possibility in future after assessing the market conditions, the official said.

"As of now, we are not looking at launching any such schemes, as the growth (in home loans) has been quite healthy even without any such strategies. May be, we will look at it later," the official said.

BoB currently offers home loans at a rate ranging from 8.5 per cent to 10.5 per cent, based upon the loan amount and tenure of the advance.
A host of lenders, including the country's largest lender, State Bank of India and its nearest competitor ICICI Bank had announced similar home loan schemes to woo the spiring home buyers.

As on September, Bank of Baroda's total retail loan book stood at around Rs 21,000-crore, out of which home loans contributed around 45 per cent, the official said.
The lender has also maintained a healthy asset quality on its home loan portfolio, the official said.

Its gross non-performing assets from the home loan segment presently stands at around 2 per cent.

SBI was the first to come with the dual rate home loan scheme early this year, which was followed by other leading players like ICICI Bank, Kotak Mahindra, Axis and leading housing loan financer, HDFC.
Public-sector lender, Bank of India also have plans to offer fixed rate of 8 per cent for two years for new home loans upto Rs 30-lakh from the new year.