RBI repo rate cut, the home loan interest rate of these 3 banks has become very low, now if you are also planning to take a home loan then you should read this entire article,
Hello friends, my name is Raman Yadav. I have been working in the home loan industry since 2019. Let me tell you that I keep sharing my experience with you from time to time so that you do not have to visit banks.
Why did RBI cut the repo rate ?
The Reserve Bank of India changes the repo rate every 2 months in a year, this year in 2025, the Reserve Bank of India has cut the interest rate for the second time, this happened after 5 years that the first rate cut was done in February 2025, both these rate cuts have been seen under the leadership of the new Governor Sanjay Malhotra of the MPC meeting. Earlier, the repo rate was changed to 6.25% and this time it has been reduced by 0.25 basis points to 6%, due to this, common citizens as well as businessmen are getting direct benefit.
Which banks reduced home loan interest rates?
The effect of change in repo rate is mainly seen on the home loan interest rate and fixed deposits of banks, where the interest rate is reduced by the banks and the floating rate of fixed deposits is increased.
After the change in repo rate by the Reserve Bank of India, the country’s leading bank PNB has reduced the home loan interest rate. Along with this, Indian Bank, UCO Bank and Bank of India are also included in this list.
1. Punjab National Bank.
After the rate cut, PNB has reduced its RBLR due to which the home loan interest has now become 8.85%, let me tell you that earlier the home loan interest rate of PNB was 9.10%, compared to earlier, now the interest rate has become the cheapest in the market, PNB has reduced its RBLR by 0.25%.
2. Indian Bank.
Indian Bank has also changed its home loan interest rate, this decision has been taken after the change in repo rate. Indian Bank has changed RBLR by 0.35% and with immediate effect from April 11, the interest rate of Indian Bank has now become 8.70%. Earlier, the home loan interest rate of Indian Bank was 9.05%.
3. UCO bank.
UCO Bank has also changed the interest rate, the new rate of interest has become 8.80%.
4. Bank of india.
Apart from these three banks, Bank of India is also included in this list. Currently, the home loan interest rate has increased from 8.15% to 8.80%.
Home loan calculator– Click
Check free cibil score— Click
What will be the benefit of inflation being under control?
Inflation rate is expected to be 4% in the coming year, RBI’s inflation rate is expected to be between 2% to 6%, your everyday things like grocery items will not become expensive, India’s growth rate is expected to be 6.5% in the coming year. This will benefit the common man, due to the decrease in inflation rate, the EMI of your loan will also decrease. There will be a change in the home loan interest rate. Now taking a home loan has become even cheaper.
FAQ.
What is the RBI repo rate today?
Let me tell you that the rate was last increased in 2020, but after 5 years, the first rate cut happened on 6 February 2025 and again on 9 April, it was reduced by 0.25% and now it is at 6%.
What is current repo and reverse repo rate?
In India, the repo rate is stable at 6% and further reduction is expected, while the reverse repo rate is currently at 3.35%. RBI says that this is a very important tool for inflation and economic stability.
