RBI repo rate cut: Bank of India, Indian Bank slash home loan rates, lower EMIs

• RBI cut the repo rate by 25 basis points to 5.25%.
• Bank of India and Indian Bank reduced their home loan interest rates following the RBI's decision.
• Indian Bank's repo-linked lending rate is now 7.95%, effective December 6.
• Bank of India's Repo-Based Lending Rate (RBLR) is now 8.1%, effective December 5.
• The rate cut is expected to lead to lower EMIs for home loans and other retail loans.

Why It Matters: RBI rate cut means cheaper loans and lower EMIs for borrowers.