Mumbai: In a customer-friendly move aligned with the Reserve Bank of India’s recent monetary policy easing, Indian Bank has announced a reduction in its interest rates on home and vehicle loans. The public sector bank said in a statement on Thursday that it has slashed home loan rates from 8.15 per cent to 7.90 per cent per annum. Vehicle loan rates have also been cut from 8.50 per cent to 8.25 per cent per annum.

The rate reduction is expected to bring relief to borrowers by lowering their monthly EMI obligations and making credit more accessible for individuals looking to finance home or vehicle purchases. The bank’s move is seen as a timely step to stimulate lending and support overall economic activity, following the RBI's decision to maintain an accommodative stance to support growth.

As part of this initiative, Indian Bank is also offering limited-time incentives to new borrowers. These include discounted processing fees and zero documentation charges — an added benefit aimed at making the borrowing process more streamlined and affordable.

“This initiative is part of Indian Bank’s continued commitment to support customers in achieving their financial goals, such as home and vehicle ownership,” the bank said in its official statement.

The revised rates and accompanying benefits are likely to appeal to both salaried and self-employed individuals, especially during the current economic environment where affordability and ease of financing are top priorities for consumers.

Financial experts view this move as a strategic push by Indian Bank to enhance its retail lending portfolio while supporting the broader goal of financial inclusion. With several banks expected to follow suit after the RBI’s recent policy decision, a wider trend of interest rate moderation could soon take hold across the banking sector.

Borrowers interested in availing the reduced rates and special offers are advised to act promptly, as these benefits are available for a limited period.

Indian Bank has cut home and vehicle loan interest rates following RBI’s policy easing, lowering EMIs for borrowers. Alongside, it’s offering limited-time perks like discounted processing fees and zero documentation charges to encourage affordable and easy access to credit.