Reduce EMI or Reduce Home Loan Tenure - RBI Repo Rate Decision

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Издатель Feb 18, 2025

RBI Cuts Repo Rate by 25 BPS! What Should Home Loan Borrowers Do Now?

Great news for home loan borrowers! With the RBI reducing the repo rate by 25 basis points, your loan interest rate is likely to decrease by .25%.

Now, you have two options:

1) Reduce EMI amount & keep the loan tenure same - Lower monthly burden.

Example:
-Home Loan Amount: ₹50,00,000
-Home Loan Tenure = 360 Months
-Earlier Interest Rate: 8.40%
-New Interest Rate: 8.15%
-Earlier EMI: ₹38,092
-New EMI: ₹37,212
-Total Interest Savings: ₹3,16,611

2) Keep EMI same & reduce the loan tenure - Become debt-free faster.

Example:
-Home Loan Amount: ₹50,00,000
-Earlier Interest Rate: 8.40%
-New Interest Rate: 8.15%
-EMI Remains Same: ₹38,092
-Earlier Tenure: 360 months
-New Loan Tenure: 328 months
-Total Savings: ₹12,14,839

You can use the Excel calculator to calculate your interest savings.

Which option would you choose?

Download Free Excel Home Loan Calculator to decide which option should you choose from here - https://bit.ly/LOANCALC2025