RBI Repo Rate Cut: Car Loan EMIs Reduced, SBI Rate 8.50%

• RBI reduced the repo rate by 0.25% before the New Year, directly lowering car loan EMIs.
• SBI's car loan interest rate decreased from 8.75% to 8.50% following the RBI's 25 basis point cut.
• A Rs 10 lakh car loan EMI is reduced by approximately Rs 120 per month.
• A Rs 15 lakh car loan EMI is reduced by approximately Rs 181 per month.
• A Rs 20 lakh car loan EMI is reduced by approximately Rs 241 per month.

Why It Matters: Borrowers save money as RBI's repo rate cut lowers car loan EMIs.