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RBL Bank gives big relief amid Corona explosion, cuts EMI by reducing interest


RBL Bank gives big relief amid Corona explosion, cuts EMI by reducing interest 1

New Delhi. There is panic of the corona virus throughout the country. Despite PM Modi’s assurances, everyone fears a lockdown once again. If this happens then the people of the country may have to face the economic crisis again. In such a situation, private sector bank RBL has cut the rate of MCLR to give relief to its customers. Now the customers of the bank will have to pay a lower EMI than before. The new interest rates have been implemented by the bank from today. Since this decision of RBL, there can be a reduction of up to 0.35 per cent in EMI. Let us also tell you how much the interest rates have become after the decision of RBL.

Also read: Banking and metal sector made stock market return, Sensex closed beyond 48000

New rates have come into force from today

Timeline New rates Rates in march
Overnight 7.65 percent 8 percent
one month 7.75 percent 8 percent
three months 7.85 percent 8.10 percent
Six months 8.05 percent 8.35 percent
One year 8.40 percent 8.65 percent

Also read: Banks to be closed for 14 days in May, do all your important work in this month

This bank has the lowest interest rates
At present, Kotak Mahindra Bank is claiming that it is currently offering loans at the lowest interest rates. The bank is offering home loans to customers at the rate of 6.65 per cent. According to Kotak Mahindra Bank, as per the special offer, by March 31, it was decided to give a loan at an interest rate of 6.65 per cent. Which has now been pushed forward by the bank.

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