8 Banks Slash Lending Rates Post-RBI Cut: EMIs Set to Get Cheaper!

• RBI reduced the repo rate by 25 basis points to 5.25% in early December.
• Major banks including SBI, Canara Bank, PNB, Indian Bank, Bank of Baroda, and Bank of Maharashtra have cut lending rates.
• Customers with repo-linked home, car, and personal loans will benefit from lower EMIs.
• Canara Bank RLLR reduced to 8.00%, PNB RLLR to 8.10%, Indian Bank RLLR to 7.95%.
• SBI EBLR cut to 7.90% and RLLR to 7.50%; Bank of Maharashtra home loan to 7.10%, car loan to 7.45% with waived processing fees.

Why It Matters: Borrowers rejoice! Major banks reduce lending rates post-RBI repo cut, leading to significantly lower EMIs.