Home Loan News Marathi: Home loan is a big help in fulfilling the dream of becoming the owner of the house. However, the process of obtaining home loans is slightly complex. Meanwhile, a government bank has also cut interest rates after the Reserve Bank of India (RBI) cut interest rates. Due to which it will now be cheaper for you to take a home loan from this bank. Know which bank it is and how much it has cut the interest rate…
After the RBI reduced interest rates by 0.25 percent, now banks have also decided to reduce interest rates. Public sector bank Indian Overseas Bank has cut the interest rate related to its repo rate by 0.25 percent. The bank has given information about this on Saturday. After this decision of the bank, you will get a home loan at a cheaper rate.
The Reserve Bank of India (RBI) decided to increase the policy rate repo from 6.25 percent to six percent in the recent meeting of the Monetary Policy Committee (MPC). After that the Indian Overseas Bank has also reduced interest rates. The EMI of all the loans taken from this bank, including home loans, will be reduced due to the reduction in interest rates.
Home loans will be cheaper
After cutting interest rates by the bank, the home loan from this bank will now become cheaper. If someone applies for a loan from this government bank, then he will have to give less EMI. Apart from home loans, now other loans will also become cheap. The bank has decided to cut interest rates in view of increasing uncertainty after US President Donald Trump’s announcement of 26 percent tariff on Indian imports last week. Earlier, RBI had decided to increase interest rates to control inflation in the country and strengthen the country’s economy.
What is the interest rate now?
Government-owned Indian Overseas Bank has reduced the interest rate on repo-linked loan from 0.25 percent to 9.10 percent to 8.85 percent. This deduction will be effective from 12 April 2025. This means that the EMI of people taking loans from the bank will be reduced from today. They have to pay a low amount as interest.
