Indian Bank Cuts Home Loan Rate to 7.90%, Vehicle Loan to 8.25%
Why in the news
Indian Bank lowered interest rates on home and vehicle loans to ease repayment burdens and widen affordable credit.
Rate change
| Loan | Old | New |
|---|---|---|
| Home loan | 8.15% | 7.90% |
| Vehicle loan | 8.50% | 8.25% |
Borrower benefits
- Lower EMIs.
- Cheaper applications through reduced processing fees and no documentation charges.
Why it matters
The cut supports the bank’s goal of making credit accessible and affordable for more customers, especially while affordability remains a worry for households.
Exam angle
- New rates: 7.90% (home) and 8.25% (vehicle).