Home Loan News

RBI cuts interest rates to 9-yr low, lower home, auto loan likely

The Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 5.75 per cent and reverse repo rate by an equal proportion to 5.50 per cent and expected banks to transmit these to home, auto and other loan borrowers faster.

12:37 pm: The cut in repo rate is likely to result in lower EMIs for home and auto buyers. 12:34 pm: After the RBI policy was announced, the rupee witnessed high volatility and slipped towards 71.

Loans have become cheaper after the Reserve Bank of India(RBI), in a surprise move, on Tuesday cut interest rate by basis points from 7.25 per cent to 6.75 per cent with immediate effect.

Mumbai, Jun 6 (PTI) In a move that may lead to lower home, auto and other loan EMIs, the RBI Thursday cut interest rates for the third time this year by 25 basis points to their lowest level in nine years and signalled more easing as it looked to support an economy growing at the slowest pace since the BJP first came to power in 2014.

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1 day ago. The reduction in the interest rate will help spur consumption as this will bring down EMIs for home, auto and corporate loans.. a dozen lenders reducing their interest rates, the remaining PSU banks are likely to. quick actions from government end to spur growth which has hit five-year low of 6.8 percent.

Can you afford to sell? It’s an important question

And there has been signification outflow of CASA (current account and savings account) deposits or low-cost deposits. Bank of India (RBI) is expected to cut interest rates when it meets on August 2.

RBI Cuts Repo Rate To 7-Year Low Of 6%, Loans Could Get Cheaper The monetary policy committee of the Reserve Bank of India (RBI) today cut repo rate or its key lending rate by 25 basis points to 6.

It will not only raise the market demand but also bring down the interest rate on your home loan, car loan. How rate cut will help consumers: A possible rate cut will allow banks to borrow from RBI.

RBI cuts interest rates to 9-yr low, expects banks to quickly lower home, auto loan emis. pti. thursday, 6 June 2019 The reduction in interest rate will help boost credit growth, helping arrest the slowdown in the economy. Mumbai:.

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