Major banks cut loan interest rates after RBI repo rate reduction
pre-market1 source ↓written by the desknot a recommendation
- cut
- 25 basis points
- repo rate
- 5.25%
Following the RBI's 25 basis points cut in the repo rate to 5.25%, several major banks have reduced their MCLR, RLLR, and RBLR rates. This adjustment will lower EMIs for home and auto loan borrowers, easing their repayment burden. Existing customers may benefit from reduced payments or shorter tenures. 📉
• HDFC Bank has announced cuts in its lending rates.
• Other banks are expected to follow suit, impacting the overall borrowing landscape.
This move is likely to boost consumer sentiment and stimulate demand in the housing and automotive sectors.
Not investment advice. For informational purposes only.