The Reserve Bank of India i.e. RBI has cut the repo rate by 0.25 percent in the MPC meeting, after which people taking loans and people who fill the EMI of loan will get a lot of benefit. On the other hand, many big banks of the country have now started reducing their loan interest rates. Today we are going to tell you through this news that which banks of the country have cut their interest rates.
Repo rate cut
After cutting the repo rate from RBI, banks have also started reducing loan interest rates. State Bank of India, Bank of India, HDFC, Indian Bank, Punjab National Bank, Bank of Baroda, UCO Bank, Axis Bank, Bank of Maharashtra, Indian Overseas Bank have reduced loan rates. Due to this, home loan, car loan, personal loan, education loans etc. have become cheap. Both new and old customers will benefit from this. If you are planning to take home, then now you will get a home loan at a cheaper rate.
state Bank of India
State Bank of India has cut the interest rate on loan by 25 basis points i.e. 0.25 percent. This will provide relief to those taking both old and new types of loans.
Indian bank
One of the country’s government banks, Indian Bank has cut its repo related benchmark lending rate by 35 basis points, after which the rates have increased to 8.70 percent.
Punjab National Bank (PNB)
Punjab National Bank has also cut its RBLR, after which the new rate is 8.85 percent. Earlier this rate was 9.10 percent.
Bank of india
Bank of India has also cut its interest rates. Now the interest rate has come down from 9.10% to 8.85%.
Uco bank
UCO Bank has also cut interest rates. UCO Bank’s interest rates have now come down to 8.8 percent.
Bank of Baroda
Now you will be easy to take a loan from Bank of Baroda. Because the bank’s MCLR has increased to 8.15 percent, while one year MCLR has come to 9 percent.
Axis bank
Axis Bank has revised the interest rates of affords. The bank is offering interest ranging from 3 percent to 7.25 percent.
Hdfc bank
HDFC Bank’s MCLR will now be up to 9.10 percent and 9.35 percent. Its revised rates have come into force from 7 April 2025.
Indian Overseas Bank
The bank has reduced the benchmark lending rate from 6.25 percent to 6 percent. The bank has cut RLLR by 25 basis points to 9.10 percent to 8.85 percent.
Bank of Maharashtra
Bank of Maharashtra has also announced a cut of 25 basis points in the loan rate. The bank’s repo-linked borrowing rate has now been reduced from 9.05 percent to 8.80 percent.