When the repo rate changes, the prime lending rate changes by the same amount across all banks. If you have a home loan, the bank automatically adjusts your monthly instalment to accommodate that change. You can use this calculator to get an estimate of how much money you’ll save every month when a rate cut occurs.
But, if you can afford to keep your instalment the same after a rate cut, call your bank and ask them to adjust your instalment. By making extra/bigger bond payments, you can reduce the outstanding balance of the loan quicker. As a result, you can pay off the loan in a shorter period than originally planned. See the impact on your loan by paying more every month.