RBI cuts repo rate by 0.25% impacting loan EMIs
after close1 source ↓written by the desknot a recommendation
- EMI drops
- ₹22,000 to ₹21,696
The Reserve Bank of India has reduced the repo rate by 0.25%, marking the first cut in nearly five years. This change will lower interest rates on various loans, including home, car, and personal loans, making them more affordable for borrowers.
• For a ₹25,00,000 home loan over 20 years, the EMI drops from ₹22,000 to ₹21,696.
This reduction is expected to stimulate borrowing and boost consumer spending in the economy.
Not investment advice. For informational purposes only.