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रेपो लिंक्ड लेंडिंग दर (RLLR): होम लोन उधारकर्ताओं के लिए पूरी गाइड

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23 जून 2026
पढ़ने में लगने वाला समय - 9 मिनट
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Repo Linked Lending Rate (RLLR): Complete guide for home loan borrowers

संक्षिप्त विवरण

RLLR एक लोन ब्याज दर सिस्टम है जहां फ्लोटिंग-दर लोन सीधे RBI की रेपो दर से लिंक होते हैं. यह बैंकों को MCLR और PLR जैसे पुराने सिस्टम की तुलना में उधारकर्ताओं को रेपो दर में बदलाव करने में मदद करता है. फलस्वरूप, होम लोन की EMI और ब्याज दर में वृद्धि या गिरावट के दौरान उधार लेने की लागत अधिक तेज़ी से बदल सकती है. हालांकि सिस्टम बेहतर पारदर्शिता और तेज़ दर ट्रांसमिशन प्रदान करता है, लेकिन इससे ब्याज दर में अधिक बार-बार उतार-चढ़ाव भी हो सकता है. उधारकर्ताओं को RLLR-आधारित लोन चुनने से पहले लोन की शर्तों, रीसेट अवधि और लॉन्ग-टर्म पुनर्भुगतान प्रभाव की तुलना करनी चाहिए.

रेपो-लिंक्ड लेंडिंग दर (RLLR) एक बेंचमार्क ब्याज दर सिस्टम है जहां फ्लोटिंग-दर लोन सीधे RBI की रेपो दर से लिंक किए जाते हैं.

अगर आपने कभी भी होम लोन या कोई अन्य फ्लोटिंग-ब्याज लोन लिया है, तो आपने देखा होगा कि पुनर्भुगतान अवधि के दौरान ब्याज दर कभी-कभी बदलती रहती है. क्या आपने कभी सोचा है कि ऐसा क्यों होता है? अधिकांश मामलों में, ऐसा इसलिए होता है क्योंकि आज फ्लोटिंग-दर लोन रेपो दर के नाम से जाने वाले बाहरी बेंचमार्क से लिंक होते हैं. जब भी रेपो दर में बदलाव होता है, तो आपके लोन पर ब्याज दर बढ़ या कम हो सकती है.

यह हमें रेपो-लिंक्ड लेंडिंग दर (RLLR) नामक अवधारणा पर ले जाता है. भारतीय रिज़र्व बैंक (RBI) ने इसे 2019 में लोन की ब्याज दरों को अधिक पारदर्शी बनाने और उधारकर्ताओं को पॉलिसी दर में होने वाले बदलावों का तेज़ी से ट्रांसमिशन सुनिश्चित करने के लिए शुरू किया.

This blog explains what RLLR is in detail, while also covering its benefits, potential drawbacks, and how RLLR differs from older benchmark interest rate systems, such as MCLR and PLR. पढ़ते रहें.

What is RLLR?

As mentioned, RLLR stands for repo-linked lending rate. Simply put, it is a benchmark interest rate system wherein banks and financial institutions are required to link floating-rate loans directly to the RBI’s repo rate. The repo rate is the interest rate at which commercial banks in India borrow money from the RBI.

When the RBI increases or reduces the repo rate, the applicable interest rates on floating-rate loans also change accordingly. For example, if the RBI reduces the repo rate, banks also lower their loan interest rates. This, in turn, helps in reducing the loan EMI or tenure for borrowers. Similarly, an increase in the repo rate may escalate the overall borrowing costs.

Before the RLLR system was introduced, banks primarily relied on internal benchmark systems to determine loan interest rates. Examples of such systems include the Prime Lending Rate (PLR), base rate, and Marginal Cost of Funds-Based Lending Rate (MCLR).

How does an RLLR-based home loan work?

Most banks and financial institutions these days use the RLLR system to determine home loan interest rates. They add a fixed spread or margin to the repo rate to calculate the final lending rate. This spread may depend on factors such as the borrower’s credit score, loan amount, repayment history, and lender policy.

When the RBI’s repo rate changes, the interest rate on an RLLR-based home loan also changes accordingly. For example, if the current home loan interest rate is 8.75% and the RBI reduces the repo rate by 0.25%, the new home loan interest rate would be 8.5%. The banks revise the loan interest rate after a fixed reset period, such as every three months.

A change in interest rate can directly impact the borrower’s EMI or loan tenure. If the applicable interest rate is reduced, the EMI or loan tenure also reduces, and vice versa.

Why consider switching from MCLR to RLLR?

The RBI introduced the RLLR system in October 2019. Earlier, banks relied on the MCLR system to calculate and revise interest rates for floating-rate loans. Now, borrowers have an option to switch from MCLR to RLLR. Doing so offers the following benefits:

Better transparency: Since the RBI publicly announces the repo rate, borrowers can easily understand why their loan interest rate has changed.
Faster rate transmission: Under the RLLR system, banks revise loan rates more quickly after changes in the repo rate than the MCLR system.
Possible lower rates: When the repo rate falls, borrowers benefit from lower rates quickly. This, in turn, results in EMI reduction and greater savings.

RLLR vs MCLR: Key differences

Here’s how RLLR and MCLR systems differ based on certain key aspects:

Benchmark used: In the RLLR system, banks use an external benchmark to determine interest rates. In the MCLR system, banks used an internal benchmark.
Interest rate transmission: It is much faster in the RLLR system because the reset period is shorter. In the MCLR system, rate transmission took longer because the reset periods were long, typically 6 to 12 months.
Transparency: The RLLR system is broadly considered more transparent because the RBI announces repo rates publicly. MCLR calculations were decided internally by banks.
Impact on EMIs: EMIs in RLLR-linked loans may change quickly after the RBI’s policy revisions. In the MCLR-based system, changes used to happen gradually.
Calculation method: In the RLLR system, banks add a fixed spread to the repo rate to calculate the final lending rate. In the MCLR system, banks used to set different rates for loans with different tenures based on factors such as the marginal cost of funds, operating expenses, and tenor premium.

Why does RLLR matter for borrowers?

The RLLR system offers several advantages to borrowers. Firstly, the interest rates for floating-rate loans are now directly linked to the RBI’s repo rate. It means changes in the repo rate can quickly affect the loan interest rate, EMI, tenure, and the overall borrowing cost. Borrowers won’t have to wait for longer reset cycles to enjoy rate cuts.

Secondly, in the current economic environment, repo rates have fluctuated frequently due to inflation and changes in the RBI’s monetary policy. In such a scenario, the RLLR system provides greater transparency and enables borrowers to plan their finances more efficiently.

What are the potential downsides of RLLR?

While the RLLR system offers numerous advantages, it has some downsides as well:

● Frequent EMI changes:

Most banks reset their RLLR loan interest rates every three months. Frequent changes to the repo rate can lead to frequent EMI changes, which can make financial planning a bit difficult.

● Rate volatility:

When rates change too frequently, it may become difficult to predict your overall borrowing cost. It also becomes difficult to compare loan options from several lenders.

● Higher interest rate:

If the RBI decides to increase the repo rate instead of reducing it, you may end up paying a higher interest amount on your loan.

Should you switch your home loan to RLLR?

If you took your home loan before the introduction of the RLLR, i.e., October 2019, your lender may still be following the MCLR system. However, you can always request your lender to switch to the RLLR system. But the question is, is it beneficial to do so?

Remember that since RLLR-based loans respond more quickly to RBI repo rate changes, the impact on EMIs and borrowing costs may also become more frequent. Furthermore, you must compare your bank’s current RLLR with your existing home loan interest rate. Also, check the conversion charges, the remaining loan tenure, and the overall long-term savings. Apply for the switch only if the potential savings exceed the conversion cost and you are comfortable with frequent interest rate changes.

How is the RLLR calculated?

Banks calculate the RLLR rate using a simple mathematical formula:

RLLR rate = Repo rate + Spread

Here, the repo rate is the rate at which the RBI lends money to commercial banks. Whenever the RBI changes the repo rate, banks also revise the interest rates applicable to RLLR-linked loans.

The spread is an additional percentage that the bank adds to the repo rate to cover its operational costs and profit margin. Different banks may have different spread values for different types of loans.

For example, suppose the current repo rate is 4.5%, and a bank is adding a 4% spread for home loans. In that case, the final repo-linked lending rate would be 4.5% + 4%, i.e., 8.5% per annum.

What is the impact of RLLR on your loan EMI?

The applicable repo-linked lending rate directly impacts your floating-rate loan EMIs. Whenever the RBI increases or decreases the repo rate, the change is reflected in your loan interest rate after the applicable reset period. This, in turn, impacts your EMI amount.

For example, suppose you have taken a home loan of Rs. 40 lakhs for 20 years. The current interest rate on your loan is 8.5% per annum. Your monthly home loan EMI would be Rs. 34,713. The total interest you would be paying after 20 years amounts to Rs. 43,31,103.

Now, if the RBI cuts the repo rate by 50 basis points (0.5%), your applicable home loan interest rate will be 8% per annum. At this rate, your monthly EMI would reduce to Rs. 33,458, and your total interest outgo would reduce to Rs. 40,29,825, which is significantly lower than the initial amount. However, the revised EMI would generally apply only after the lender’s next reset date.

Difference between RLLR, MCLR, and PLR

The table below depicts a comparison between the RLLR, MCLR, and PLR systems:

बेसिस	RLLR	MCLR	PLR
Full form	Repo-linked lending rate.	Marginal cost of funds-based lending rate.	Prime lending rate.
Benchmark type	External benchmark linked to the RBI’s repo rate.	Internal benchmark decided by banks.	Internal benchmark decided by banks.
गणना	Based on the prevailing repo rate.	Based on the bank’s marginal cost of funds, operating expenses, and tenor premium.	Determined by the board of directors of the bank.
पारदर्शिता	उच्चतर	मध्यम	कम
Rate transmission	और भी तेज़	Comparatively slower	Slower
Current usage	Widely used for new floating-rate loans.	Used for loans disbursed before October 2019.	Not in use.

What are the current RLLR rates of major banks?

RLLR rates keep changing from time to time. Here are the current RLLR rates (as of 30 May 2026) of major banks in India:

बैंक	Current RLLR
Canara Bank	8.00%
बैंक ऑफ बड़ौदा	7.90%
भारतीय स्टेट बैंक	7.50%
Central Bank of India	8.25%
Punjab National Bank	8.00%
इंडियन ओवरसीज बैंक	8.10%
Union Bank of India	8.00%
ICICI बैंक	8.40%
hdfc bank	8.25%

कृपया ध्यान दें कि यह लिस्ट सांकेतिक है. सटीक वर्तमान RLLR के लिए हमेशा बैंक की आधिकारिक वेबसाइट चेक करें.

निष्कर्ष

RLLR सिस्टम की शुरुआत ने फ्लोटिंग-दर लोन को अधिक पारदर्शी और RBI की पॉलिसी में बदलावों से करीब से जोड़ा है. हालांकि यह दर में बदलाव के तेज़ ट्रांसमिशन और अधिक पारदर्शिता जैसे लाभ प्रदान करता है, लेकिन इससे ब्याज दर में अधिक बार उतार-चढ़ाव भी हो सकता है.

RLLR आधारित लोन चुनने या स्विच करने से पहले, आपको अच्छी तरह से सूचित निर्णय लेने के लिए ब्याज दरों, रीसेट अवधि और लॉन्ग-टर्म वित्तीय प्रभाव की सावधानीपूर्वक तुलना करनी चाहिए.

लोकप्रिय खोजें

लोन के बारे में और जानें

होम लोन पात्रता मानदंड अफोर्डेबल हाउसिंग लोन प्रधानमंत्री आवास योजना के लिए पात्रता मानदंड होम लोन बैलेंस ट्रांसफर मुंबई में होम लोन के लिए आवश्यक होम लोन की ब्याज दरें होम लोन EMI कैलकुलेटर होम लोन की योग्यता 10 लाख का होम लोन 50 लाख का होम लोन 30 लाख का होम लोन 40 लाख का होम लोन

और देखें

सामान्य प्रश्न

सरल शब्दों में RLLR क्या है?

RLLR, या रेपो-लिंक्ड लेंडिंग दर, एक लोन ब्याज दर सिस्टम है जो सीधे RBI की रेपो दर से जुड़ी होती है. जब RBI रेपो दर को बदलता है, तो बैंक फ्लोटिंग-दर लोन जैसे होम लोन पर ब्याज दरों को भी एडजस्ट कर सकते हैं. यह ईएमआई, लोन की अवधि और कुल पुनर्भुगतान लागत को प्रभावित करता है.

RLLR कितनी बार बदलता है?

जब भी RBI रेपो दर बदलता है, तो RLLR बदलता है, और बैंक लोन के लिए अगली रीसेट तारीख तक पहुंच जाता है. अधिकांश बैंक हर तीन महीने में RLLR-लिंक्ड लोन की समीक्षा करते हैं. इसके कारण, लोन की अवधि के दौरान लोन की ब्याज दर कई बार बढ़ या कम हो सकती है.

क्या RLLR MCLR से बेहतर है?

RLLR कुछ उधारकर्ताओं के लिए बेहतर हो सकता है क्योंकि लोन दरें आमतौर पर RBI रेपो दर में बदलाव पर तेजी से प्रतिक्रिया देती हैं. इससे उधारकर्ताओं को ब्याज दरें कम होने पर तुरंत लाभ प्राप्त करने में मदद मिल सकती है. हालांकि, रेपो दरें बढ़ने पर RLLR-लिंक्ड लोन भी अधिक महंगे हो सकते हैं, इसलिए दोनों सिस्टम के लाभ और सीमाएं हैं.

क्या RLLR EMI को बढ़ाता है?

हां, अगर RBI रेपो दर बढ़ा देता है, तो RLLR EMI बढ़ा सकता है. क्योंकि RLLR से लिंक फ्लोटिंग-दर लोन रेपो दर में बदलावों का तुरंत जवाब देते हैं, इसलिए अगर रेपो दर बढ़ती है, तो लागू लोन की ब्याज दर बढ़ सकती है. कुछ मामलों में, बैंक EMI राशि बढ़ा सकते हैं, जबकि अन्य मामलों में, वे लोन की अवधि बढ़ा सकते हैं.

क्या मैं अपना लोन MCLR से RLLR में स्विच कर सकता/सकती हूं?

हां, कई बैंक आपको अपने मौजूदा होम लोन को MCLR से RLLR में स्विच करने की अनुमति देते हैं. हालांकि, बैंक स्विच के लिए कन्वर्ज़न शुल्क ले सकते हैं. RLLR सिस्टम में जाने का निर्णय लेने से पहले आपको मौजूदा ब्याज दरों, पुनर्भुगतान पर प्रभाव और लॉन्ग-टर्म बचत की तुलना करनी चाहिए.

What factors affect RLLR-based loan rates?

The biggest factor affecting RLLR-based loan rates is the RBI’s repo rate. Apart from this, banks may also consider the borrower’s credit score, repayment history, loan amount, and internal spread. Changes in inflation, market liquidity, and RBI monetary policy decisions can also influence overall loan rates.

Which banks offer RLLR-based home loans?

Most major public sector and private sector banks in India now offer RLLR-based floating home loans. Banks shifted to this system after the RBI guidelines introduced external benchmark-linked lending. Borrowers can check the latest RLLR and home loan rates directly on the official websites of individual banks.