Home loan EMIs are expected to remain steady as the RBI has held the repo rate at 5.25%. While this offers stability for the real estate sector, borrowers can still save significantly. Strategies like ...
As banks reduce their lending rate, following the RBI’s rate cuts, the principal component of EMI increases month-on-month, thereby affecting the overall loan tenure.
Historically, the prime lending rate has been set at 350 basis points above the repo rate. Under the current model, when a bank quotes a bond applicant “prime minus 1%”, the borrower is effectively ...
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