Hey there I know how tough it can be when loan payments eat up your paycheck. That sinking feeling when EMIs barely leave room for groceries, let alone savings. But here’s some good news: Indian Bank just slashed its loan rates, making auto, home, and personal loans more affordable.
And that’s not all—they’re waiving minimum balance fees on savings accounts starting July 7, 2025. No more stressing over penalties if your balance dips low. Whether you’re a student, senior citizen, or small business owner, this could be the break you’ve been waiting for.
Cheaper Loans: What Changed?
Indian Bank cut its one-year MCLR (Marginal Cost of Funds Based Lending Rate) by 5 basis points, bringing it down to 9%.
- Effective from: July 3, 2025
- Loans affected: Home loans, personal loans, auto loans
- Impact: Lower interest rates = smaller EMIs or shorter loan tenures
Why does this matter? If you’ve been putting off buying a home, financing a car, or consolidating debt, this drop could save you thousands over time.
No More Minimum Balance Fees!
Starting July 7, 2025, Indian Bank is eliminating minimum balance charges on all savings accounts.
Who benefits?
- Students juggling tight budgets
- Senior citizens on fixed incomes
- Small businesses with fluctuating cash flow
- Rural customers often hit hardest by fees