RBI’s rate cut lets homebuyers borrow more without raising EMIs. With a neutral stance, further cuts are unlikely, making it a good time to buy for those ready

With the reduction in the benchmark repo-linked benchmark lending rates (RBLR), the home loan of the bank will start from 7.45 per cent while vehicle loans from 7.8 per cent per annum.

In a move that surpassed expectations, the Reserve Bank of India on Friday cut the repo rate by 50 basis points to 5.5%, offering relief to borrowers with likely lower EMIs. The cut - double the widely anticipated 25 basis points - takes the total reduction since February to 100 basis points.