Indian Bank has announced a reduction in its Repo Linked Benchmark Lending Rate (RBLR) from 9.05% to 8.70%, following the Reserve Bank of India’s decision to lower the repo rate by 25 basis points, from 6.25% to 6.00%, during the latest Monetary Policy Committee (MPC) meeting. The revised lending rate will come into effect from April 11, 2025.
Reflecting a 35 basis point cut, the reduction in RBLR is aimed at providing direct benefits to borrowers, especially those with home and business loans tied to the benchmark. The move is expected to reduce EMIs or loan tenures, depending on individual loan terms.
Indian Bank stated that the rate cut underscores its commitment to offering a better banking experience by swiftly passing on policy rate benefits to its customers.
