RBI's decision to cut the repo rate by 50 bps to 5.50% is expected to bring relief to home loan borrowers as it may lower EMIs of home loans. For example, on a ₹50-lakh home loan availed for 20 years at 8% interest/annum, the EMI would be ₹41,822.00/month. With a 50-bps cut, interest drops to 7.50%, reducing EMI by ₹1,542.34/month.