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

A worrying slowdown in India’s economy makes a cut in the Reserve Bank of India’s benchmark interest rate highly likely this week. set alarm bells ringing If they are right, and the RBI does lower.

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DEL53 BIZ-LDALL RBI RBI cuts interest rates to 9-yr low, expects banks to quickly lower home, auto loan EMIs Mumbai: Home, auto and other loans may cost less as the Reserve Bank Thursday cut interest. The Reserve Bank of India (RBI) has cut the repo rate, the rate at which banks borrows fund from the central bank, from 6.25 per cent to 6 per cent.

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.

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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.

MUMBAI, June 6: 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.

3 days ago. Mumbai, Aug 7 Home, auto and other loans are set to become cheaper. 35 basis points — the fourth successive reduction — to a nine-year low, reduced repo rate to 5.4 per cent — the lowest since April 2010.. adding that growth is likely to pick up towards the fourth quarter of the current financial year.

Thus, if you are looking to borrow a personal loan, you could benefit from a reduced interest rate due to the Reserve Bank of India’s recent rate cut. Example , if the repo rate is 5% and the loan amount that the bank has availed from the RBI is Rs. 1000, then the interest paid out by the bank on the same would be Rs.

RBI cuts interest rates to 9-yr low, expects banks to quickly lower home, auto loan. In a move that may lead to lower home, auto and other loan EMIs, the RBI on Thursday. The Reserve Bank of.