Govt. Banks Slash Loan Interest Rates
After RBI's 0.25% rate cut, major public sector banks have reduced RBLR and EBLR by 0.25% making home, personal and auto loans cheaper for borrowers
Apr 18, 2025, 15:14 IST
April 18, 2025 - Following the 0.25% Repo Rate cut by the Reserve Bank of India (RBI), several public sector banks have reduced interest rates on their retail loans. These government banks have started passing on the benefits of the rate cut to their customers. However, private banks are yet to follow suit.
Repo Rate is the rate at which banks borrow money from the Central Bank. Some banks use the External Benchmark Lending Rate (EBLR) or Repo-Linked Benchmark Lending Rate (RBLR) as a basis for setting their lending rates, and these rates are linked to the RBI's Repo Rate.
This week, major public sector banks like SBI, PNB and Indian Bank have reduced their RBLR and EBLR by 0.25%, making home, personal and auto loans cheaper for borrowers.
📉 Home Loan Interest Rates After the Cut (%)
| Bank | Min. Rate (%) | Max. Rate (%) |
|---|---|---|
| Union Bank | 7.85 | 10.40 |
| Bank of Maharashtra | 7.85 | 10.65 |
| Indian Overseas Bank | Starts from 7.90 | – |
| Central Bank of India | 7.85 | 9.45 |
| State Bank of India | 8.00 | 9.15 |
| Punjab National Bank | 8.05 | 9.75 |
| Bank of India | 8.00 | 10.60 |
| Canara Bank | 8.01 | 10.75 |
With Media Inputs
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