Mortgage loan: The Bank of the Reserve of India (RBI) reduced the repo rate for the second consecutive time earlier this month, after which all the main public and private banks began to reduce interest rates in their loans. After this cut, the banks have also begun to relieve their customs in the monthly delivery (EMI) equated with loans. The RBI reduced the repo rate of 6.25 percent to 6 percent at the MPC meeting earlier this month.
Lic Housing Finance Reduced interest rates
Lic Housing End said today (Friday, April 25, 2025) that the company had reduced the interest rates of mortgage loans for its customs in 25 basic points.
Now customers will receive loans at an initial rate or 8 percent.
The new interest rates are applicable as of April 24.
CANARA BANK ALSO GREAT RELIEF
The PSU lender, Canara Bank, has also given relief to her client of home and car loans. The bank said their home loans will now start from 7.90 percent and 8.20 percent cars loans.
Mortgage loans calculations
As Lic Housing Finance reduced his loan rates in 25 basic points. Let’s look at the IMIs reviewed for mortgage loans of the floating rate in the RS 30 Lakh-RS range 1 million tasks at an interest rate of 10 percent for 20 years.
RS 30 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 28,950.65
Now (at a rate of 9.75%)- RS 28,455.51
RS 40 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 38,600,87
Now (at 9.75%rate)- RS 37,940.67
RS 50 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 48,251.08
Now (with 9.75%rate)- RS 47,425.84
RS 60 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 57,901.30
Now (at 9.75%rate)- RS 56,911.01
RS 70 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 67,551.52
Now (at 9.75%rate)- RS 66,396.18
RS 80 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 77.201.73
Now (at 9.75%rate)- RS 75,881.35
RS 90 Lakh Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 86,851.95
Now (with 9.75%rate)- RS 85,366.52
RS 1 crore Lic Housing Housing Finance Home Loan Emi
Previously (10%rate)- RS 96.502.16
Now (at 9.75%rate)- RS 94,851,69