RBI rate cut: Home loan borrowers can save Rs 4.20 lakh on Rs 50 lakh loan

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Additionally, if the rate cut takes effect from April 1, borrowers can expect per-lakh interest savings of Rs 3,002 for the remainder of the year.

On a Rs 50 lakh loan, this means savings of Rs 1.50 lakh in the second year alone," Shetty explained.

Just a week ago, Finance Minister Nirmala Sitharaman announced zero income tax for those with income up to Rs 12 lakh, increased TDS limits on rental income, and increased home loan interest deductions.

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Category: BusinessFinance

Markets: IndiaMali

Topics: Housing market boost Homebuyers India Tax savings 2025 RBI rate cut Home loan savings Refinance loan RBI policy change Repo rate impact EMI reduction Mortgage rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-07 @ 12:39:08 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 874 words

Reading Time: 5 minutes read

Sentences: 29 lines

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Copyright Owner: © Business Standard

News ID: 25956701

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