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

RBI cuts interest rate but reduction in your home loan EMI will be slow Higher than normal rate cut is a signal for banks to cut lending rates aggressively before festive season.

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Consensus has built for a cut because it’s seen as Patel’s last chance through 2018 to spur the economy before the U.S. Federal Reserve reduces its balance sheet, forcing emerging markets to keep pace.

Car loans are currently available at an average of 11 per cent interest and while we wait to find out by how much this rate is likely to go down by, the auto industry is definitely looking forward.

RBI cuts interest rate by 25 basis points, loan EMIs likely to fall – In a bid to boost sluggish economy before elections, the RBI Thursday cut interest rate by 25 basis points for the second time in as many months, a move that may translate into lower EMIs for home and other loans.

RBI cuts repo rate by 35 bps to 9-year low. RBI Monetary Policy: Repo rate cut to boost affordable homes sales. slowdown in the auto sector one of the 15 considerations for RBI to cut repo rate. sbi links home loan interest rates to repo rate: Will borrowers gain? RBI’s repo rate cut to boost home sales

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RBI cuts repo rate by 25 bps to 6%, loans may get cheaper. In May, the bank cut rates on home loans of up to Rs 30 lakh by 25 basis points (0.25 per cent) for new borrowers in a bid to cash in on the demand generated by the Narendra Modi government’s efforts to push for affordable housing. The rate was reduced to 8.35 per cent from 8.60 per cent.

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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.

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.