Multiple banks. Different interest rates. Call it a "conflict of interest".
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    How RBI Repo Rate cut affects on Personal Loan

    We found 32 How RBI Repo Rate cut affects on Personal Loan

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    10.99% - 15.99% Fixed
    1% to 2.5%
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    10.99% - 14.49% Fixed
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    12% - 18% Fixed
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    11.99% - 19.50% Fixed
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    13.99% - 16.99% Fixed
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    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
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    10.85% - 11.85% Floating
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    50 K - 10 L
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    10.99% - 19.8% Fixed
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    11.99% - 19% Fixed
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    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
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    1-4 Years
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    11.49% - 20.15% Fixed
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    11.5% - 13.25% Fixed
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    How RBI Repo Rate cut affects on Personal Loan is Rated as "Great!" by 73464 Users

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    How Repo Rate effect on Personal Loan Interest Rates

    Repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks. Repo rate stands for “Repurchase Rate”. Repo rate indicates the rate at which RBI offers credit to commercial banks, against collateral such as government securities. The agreement is to repurchase these collaterals at a future date at a fixed price. CRR is the portion of deposits made my commercial banks to the RBI.

    A cut in Repo rate will lower the cost of borrowing for commercial banks as well as for individuals. The rate at which banks offer credit such as personal loans, home loans, etc. is called the cost of credit. The interest on loans are alternately reduced. This will also lead to a reduction in CRR (Cash Reserve Ratio) which would increase the availability of credit to individuals.

    Example, if the repo rate is 5% and the loan amount that the bank has availed from the RBI is Rs. 1000, then the interest paid out by the bank on the same would be Rs. 50. Therefore, a lower repo rate indicates lower interest rate charged on loans availed from these banks by regular customers.

    Repo Rate cuts influence the lending rate or rate of interest on all mortgages such as personal loans, car loans, housing loans, etc. This reduction in the rate of interest is expected to increase demand for these products. A reduction in the Cash Reserve Ration would enhance the availability of funds and bring in more liquidity to the banking system. This will alternately affect the economy as well, which is one of the reasons why RBI introduces such a change.

    However, it is important to note that repo rate cut would lead to a reduction in the rate of interest only if the loan has been offered on a floating interest rate basis. If the personal loan has been offered on a fixed interest rate basis, then the interest rates would not be affected by any changes in the repo rate. Therefore, repo rate cuts will benefit new personal loan borrowers when the banks implement the changes but existing borrowers who have opted for the fixed rate of interest would not benefit from the same.

    The other side of the coin is an increase in repo rate. When repo rate is increased by the RBI, the commercial banks have to pay more for the money borrowed from RBI. Alternately, these banks would increase the interest on loans offered to the public. This only impacts loans offered on a floating rate of interest.

    The CRR cut causes a long-term impact on personal loan products. The interest rates are lowered with repo rate cuts. The cost of borrowing would reduce drastically for both corporates as well as individual customers. With a reduction in lending rates, personal loans will become more affordable for borrowers. However, it is also essential to have a moderate transmission in the rate of growth of credit. Otherwise, the overall effect of the repo rate cut will stay neutral.

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  • How RBI Repo Rate cut affects on Personal Loan Reviews

    • Bank Bazaar Customer Support
      "very nice and bank bazaar forwarding to digital India"
      0.5 5.0/5 "Blown Away!"
      Good to see this digital india on bank bazaar this is what i am looking for less paper work more comfort Go DIGITAL AND DO DIGITAL MAKE INDIA DIGITAL.All the best to bank bazaar.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2017
    • Bank Bazaar Customer Support
      "Supportive Service"
      0.5 4.5/5 "Excellent!"
      Customer service is very good with Bankbazaar. They provided an excellent service. I was regularly followed up by bankbazaar on my loan application. I did not go through with any issues with them because they assisted me well in selecting the bank as well for the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2017
    • Standard Chartered Bank Personal Loan
      "The Best Service"
      0.5 5.0/5 "Blown Away!"
      I availed personal loan from Standard Chartered Bank. During the process, I got good service from them, I never found any challenges with the bank for my loan. I am quite happy with the rate of interest. Also I do not have any suggestions in particular for SCB.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 20, 2017
    • Bank Bazaar Customer Support
      "Good finacial website"
      0.5 4.0/5 "Great!"
      Bank Bazaar gave immediately response from your end. I received regular follow ups on loan application. They have connected with the banks without any hassle. The portal is looking very good to check all the banking information through online.
      Was this review helpful? 1
      , mangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      HDFC offered 13.75% of interest on personal loan it is nominal, but still other banks are giving lower interest rate. My loan amount is Rs.1.9 lakhs with the tenure of three years but for the foreclosure option some charges are applicable with HDFC.
      Was this review helpful? 1
      , mangalore
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 4.0/5 "Great!"
      This is my first time experience with the Bankbazaar.com, also I got the call from the bankers regarding the financial queries. Within a week of time, everything got happened because of Bankbazaar.com. Website really helps a lot to get the financial decision.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      My experience with the HDFC bank was very good and it was fast too. HDFC bank executives have really worked well for me , also they have explained about the personal loan process very clearly. Rate of interest was not a constraint for me on that time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Good overall"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan earlier with HDFC Bank and I am happy that I faced no hassles in getting my loan through. The customer support is good and the papers was minimal. The rate of interest and processing charges was average. Overall a good experience.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Supportive services"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar has been good and very much satisfactory. They know how to handle the customer and they check about the customer requirement and the proceed accordingly. The website is also very simple and any lay person can access it.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "High ROI & charges"
      0.5 5.0/5 "Blown Away!"
      The services was excellent from HDFC Bank and they contacted me immediately for the personal loan. I could not proceed ahead for it because of my existing loans with the bank. The rate of interest was very high. It was around 17% and the processing charges are high too.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and the experience too. I am using Bankbazaar.com and from the month of march onwards, I am using Bankbazaar.com. I have not experienced much with them. Online portal of the Bankbazaar.com is easy to access. Within twenty minutes of time, I got the response from the Bankbazaar.com.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2017
    • Standard Chartered Bank Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      Rate of interest was around 13.5% and the customer service was good one with the Standard chartered bank. The only drawback with the Standard chartered bank was that they were not able to make the EMI with my savings account,. Processing charges were nil with them for the personal loan. Within fifteen to seventeen days of time the loan amount got credited.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and they were very much transparent in providing the deal, also their action was an immediate one with them. Services are the major aspects,. which I really like most , also their follow ups were good with the customer too.
      Was this review helpful? 0
      , pune
      Reviewed on May 19, 2017
    • Standard Chartered Bank Personal Loan
      "Better "
      0.5 4.0/5 "Great!"
      Experience was good with the Standard chartered bank for the personal loan, which I had taken. 11.99% was rate of interest and it changed because of the new financial year. Loan amount got disbursed to my account immediately . Overall, especially at this instant , it was the best moment with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Very good platform for people looking for financial products"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is an innovative site ,which surely gives best deal to their customers. It would be great if bankbazaar itself provides the financial products in the market. The bank bazaar web portal is extraordinary, easy to use and user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • Capital First Personal Loan
      "Prompt service"
      0.5 5.0/5 "Blown Away!"
      The process was completed in a pretty fast way. Within 4 to 5 days my loan got disbursed. The rate of interest alone kind of high, when compared with other banks. The interest rates can be decreased in future. Overall I would say, the service is prompt and good with Capital First.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Good and very customer friendly service"
      0.5 5.0/5 "Blown Away!"
      I was facing problem to get a personal loan for a very long time, but after I came to know about bank bazaar, I can say it is very easy process to get any product through bankbazaar.com. Bankbazaar web portal is easy to use and customer friendly. The response and the customer support is very good with bankbazaar.com. Overall I am happy with the bank-bazaar service.
      Was this review helpful? 0
      , jalandhar
      Reviewed on May 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have provided my salary account details for my personal loan disbursement. The loan got disbursed on 31st of march but the amount got credited after 20 days. ICICI normally take 3 to 4 days to disburse the loan but they took around 20 days. There was a miscommunication happened with the account details. The rate of interest is on higher side, when compared with others. Overall the service is average.
      Was this review helpful? 0
      , jalandhar
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      After logged in, I got the call from the Bankbazaar.com within few minutes of time. Online portal of the Bankbazaar.com is easy to access, also I got the calls from them immediately and I would like to suggest that they can make calls in a single point of contact. Response is also an immediate one with them.
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Via advertisements and through web searches I came to know about bankbazaar.com. The web portal of Bank bazaar is really easy to use and customer friendly. The response with bank-bazaar is really good with their customer support. Overall bank bazaar had done an excellent job.
      Was this review helpful? 0
      , noida
      Reviewed on May 19, 2017
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