Rates for different loans for customers, explained
After the cut, the effective home loan rate for salaried customers will be 8.3% up to Rs. 30L. For loans above that, eligible customers can also get interest subsidy of Rs. 2.67L under the Pradhan Mantri Awas scheme.
In car loans, interest ranges between 8.7%-9.2%. The exact rates will depend on the loan amount and customers' credit score.