HDFC Bank has announced a 0.50% interest rate cut on home loans, effective from the next interest rate reset date, following the Reserve Bank of India’s (RBI) reduction of the repo rate on June 6, 2025. This rate cut will be automatically applied to all home loan customers, and they will not need to submit a separate application to avail of the benefit. The reduced interest rate will result in lower Equated Monthly Installments (EMIs) for customers, providing them with much-needed relief.
To check the reset date, customers can visit the HDFC Bank website, log in to their online account, or use the mobile app to view their loan details. If customers have any questions or concerns, they can contact HDFC Bank for assistance. This move is expected to benefit lakhs of people who have been waiting for home loan rates to decrease.
The RBI’s decision to reduce the repo rate has paved the way for banks to lower their loan interest rates, making loans more affordable for customers. Other banks may also follow suit and reduce their loan interest rates, making the overall loan market more competitive. HDFC Bank’s automatic interest rate cut will ensure that customers can enjoy the benefits of lower interest rates without having to take any additional steps.
The interest rate cut will come as a welcome relief to home loan customers who have been grappling with high interest rates. With the reduced interest rate, customers can expect to save on their EMI payments, which will help them manage their finances more effectively. HDFC Bank’s decision to pass on the benefits of the RBI’s repo rate cut to its customers is a positive move that will help stimulate the housing market and support the overall economy.