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The bank’s assets and liabilities management committee (ALCO) carefully considered the RBI’s step before approved the rate amendment. The repo linked lending rate (RLLR) will now be at 8.85%below the last 9.10%. The repo rate itself is adjusted from 6.25% to 6.00%.
This rate deduction is expected to benefit borrowers with loans linked to repo rates, possibly leading to low -equal monthly installments (EMIs) for home loans, auto loans and other credit features. After the IOB move, the industry can be followed by other banks in the industry as they adjust their lending rates to align with the new repo rate. The deficiency reflects the IOB’s RBI policy’s advantages to its customers easily to pass the commitment, aimed at encouraging borrowings and contributing to economic development. This amendment will reduce the financial burden on existing and new borrowers, making the credit more cheap.
first published: April 11, 2025 9:23 pm First
Loan interest rate India 2025 (T) IOB Interest Rate Change (T) IOB Borrowing Benefits (T) Cheap Credit India (T) IOB Alco Decision (T) RBI REPO Rate Effect on banks
