Updated: Tue, 16 Dec 2025 09:42 (IST) After the repo rate cut, has your EMI also come down? Home loan customers of Uttar Pradesh got relief of around ₹ 500 crore. RBI’s monetary policy…read more Symbolic picture Jagran Correspondent, Bareilly. Reserve Bank of India has reduced the repo rate, bringing huge relief to home loan customers. According to bank officials, people will benefit more than Rs 500 crore every year after this decision of RBI. The special thing is that it will have no impact on savings bank account holders because there is no cut in the interest received by these account holders. Generally, when RBI reduces the repo rate, the interest on savings account is also reduced. Remove Advertisement Only Read News Until now minimum interest of 7.95 percent had to be paid on home loan. While RBI has reduced this interest and repo rate to 7.50 percent from December. For example, if someone has taken a home loan of Rs 10 lakh, he gets a relief of seven to eight thousand in installments of the year. If we look at the report of the District Coordination Committee or DCC of banks, home loans worth Rs 2 billion 88 lakh were given from April 1 to June 30, 2025 across the district. As the repo rate is applicable from January 24 this year, the banks of the district issued Rs 41 billion 37 lakh for home loans during this period. It is clear that customers taking home loans from banks are likely to get direct relief of around Rs 500 crore every year. However, this relief will be available only to customers who have taken a loan of more than Rs 15 lakh. Bank officials say that about 80 percent of home loan borrowers have loans above this limit. Therefore, a large number of customers will benefit from it. The number of people taking education loans is very less. According to the DCC report, the number of people taking education loans is less. This year, between 1 April and 30 June, only 1305 people took out this loan. He got a loan of Rs 7.69 lakh. Whereas if we look at the report from January 1 to September 30, an amount of Rs 1 billion 98 crore has been released to 3846 students. Bank officials also admit that people do not show much interest in taking education loans. Home loan takers will benefit greatly from the reduction in repo rates. There are a large number of home loan takers in the district. After the decision of RBI, more than Rs 15 lakh borrowers at floating interest are eligible to avail this benefit. – VK Arora, Chief Bank Manager Also Read- Bareilly’s ‘Nagar One’ gets place in UP eco-tourism agenda! Green revolution center will be built with ₹ 10 crores