Repo Rates cut by 25 basis points: RBI, home loans to be cheaper

04 March 2015: RBI cuts repo rates by 25 basis points now new rates are 7.5% which is earlier a 7.75%. “It has been decided to reduce the policy repo rate under the liquidity adjustment facility by 25 basis points from 7.75% to 7.5% with immediate effect,”.

RBI has been given a flexible inflation target of 4% in the medium term.

After the announcement of Cut in Repo Rates sensex touched record high of 30K+.

State Bank of India (up 2.3 per cent), ICICI Bank (up 2.1 per cent), HDFC Bank (up 1.8 per cent), HDFC (up 1.8 per cent) were among the major Sensex gainers.

Reserve Bank of India has cut the key policy rate by 25 basis points, setting the tone for a reduction in lending rates by banks. This will prod banks to drop interest rates on home and car loans.

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Top Banks for Home Loans in India
Banks Interest Rates
SBI Home Loan 6.95% - 7.45%
HDFC Ltd Home Loan 6.95% - 7.50%
ICICI Bank Home Loan 6.95% - 8.05%
LIC Housing Home Loan 6.90% - 7.30%
DHFL Home Loan 9.75%
Axis Bank Home Loan 7.75% - 8.40%
Bank of Baroda Home Loan 6.85% - 7.85%
Canara Bank Home Loan 7.35% - 7.80%
Aadhar Home loan N.A