New Delhi/Chennai, April 12 (H.S.): After Punjab National Bank and other banks, another public sector bank, Indian Overseas Bank (IOB), has cut the repo rate-linked interest rate by 0.25 percent. The new rates took effect on April 12, 2025.

The bank stated in a statement on Saturday that it has reduced the Repo Linked Lending Rate (RLLR) from the current 9.10 percent to 8.85 percent, marking a decrease of 25 basis points (0.25 percent). This reduction has been effective since April 12, 2025.

This means that from today onwards, borrowers taking loans from the bank will see a decrease in their EMI and will have to pay less in interest.

According to IOB’s release, the Asset Liability Management Committee decided on April 11 during its meeting to pass on the benefit of the repo rate cut to customers. Following this, the bank has immediately reduced its Repo Linked Lending Rate by 25 basis points.

Recently, the Reserve Bank of India (RBI) reduced the policy repo rate from 6.25 percent to 6 percent during the review meeting of the Monetary Policy Committee (MPC) for the current financial year 2025-26. Following this, five banks, including Indian Overseas Bank, have lowered their loan interest rates.

Hindusthan Samachar / Jun Sarkar