Home loan relief: Banks cut MCLR, RLLR and RBLR after RBI repo rate trim; here’s how your EMIs may fall

Home loan borrowers are set to benefit as major banks, including HDFC Bank, PNB, and Bank of Baroda, have reduced lending rates following the RBI’s 25 basis point repo rate cut. These adjustments to MCLR, RLLR, and RBLR will lead to lower EMIs or shorter tenures for eligible borrowers, offering significant relief on retail loan interest costs.