Assuming the rate kicks in from April 1 after 12 EMIs of this loan have been paid, then one can get per-lakh interest savings of Rs 3002 from the rest of the year.

Reserve Bank of India cuts key interest rate for the first time in 5 years, leading to lower home, auto and other loan rates. Read more.

The Reserve Bank of India (RBI) reduced its key repo rate on Friday for the first time since May 2020, aiming to provide stimulus to the sluggish economy, which is projected to grow at its slowest pace in four years during the current fiscal year.

Today’s RBI rate cut is seen as the start of a rate-cut cycle that could lead to a gradual decline in the interest rates banks charge on loans.

India’s new central bank governor cut interest rates for the first time in almost five years on Friday to help spur a slowing economy as global risks intensify.

The exact gain for each home loan borrower will depend on their current principal outstanding and interest rate

In a significant step to boost economic growth, the Reserve Bank of India (RBI) has slashed the repo rate by 25 basis points (bps), reducing it from 6.5 per cent to 6.25 per cent, in its first monetary policy review of the calendar year.

With lower home loan interest rates, homebuyers will find housing more affordable, especially in the mid and premium segments.