Indian Bank Responds to RBI Policy: Lowering Loan Rates for Home and Vehicle Buyers”

Indian Bank has announced a reduction in its home and vehicle loan interest rates following the Reserve Bank of India’s (RBI) recent monetary policy easing. The public sector lender has lowered home loan rates from 8.15% to 7.90% per annum and vehicle loan rates from 8.50% to 8.25% per annum. This move aligns with the RBI’s decision to cut the repo rate by 25 basis points, signaling a shift towards an accommodative monetary policy to ease borrowing costs for consumers.

The reduction in loan rates is expected to benefit both new and existing borrowers, making home and vehicle ownership more affordable. Indian Bank’s decision reflects the broader trend among financial institutions to pass on the benefits of RBI’s policy changes to customers. By lowering interest rates, the bank aims to stimulate demand in the housing and automobile sectors, contributing to economic growth.

This development underscores the impact of monetary policy on consumer lending and highlights the importance of timely adjustments by banks to align with regulatory changes. Indian Bank’s proactive approach demonstrates its commitment to supporting customers and fostering financial inclusion in a dynamic economic environment.

Read More