If you’re on a fixed rate, you might want to evaluate if switching to a floating rate makes sense, depending on market conditions and your remaining loan tenure.

RBI governor Sanjay Malhotra announced a 25 basis points cut in the benchmark repo rate to 6.25%, the first reduction in five years.

Last week, the Reserve Bank of India cut repo rate for the first time in nearly five years to 6.25% from 6.5%. The central bank's move to lower interest rates came right after the governments INR1 lakh crore worth of tax cuts for the middle class in the Budget for 2025-26.