New Delhi: Indian Bank has announced a reduction in Repo Linked Benchmark Lending Rate from 9.05 percent to 8.70 percent applicable on its assets portfolio, following the Reserve Bank of India’s (RBI) announcement cutting the repo rate by 25 basis points, from 6.25 percent to 6.00 percent, in the latest Monetary Policy Committee (MPC) meeting. The revised lending rates will be effective from 11th April, 2025.
The RBLR has been reduced by 0.35 percent (35 basis points), directly reflecting the decrease in the RBI’s repo rate. This move will lower borrowing costs for customers with loans linked to RBLR, such as home loans and business loans. Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure.
Indian Bank with a commitment to provide better banking experience to its customers has offered the due benefits to borrowers by reducing RBLR.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)