Home loans to become cheaper
Home loans are to become cheaper in near future. While some banks have already slashed their interest rates while others are planning to do the same.
The finance ministry has already asked bankers to reduce equated monthly installment (EMIs) on home loans.
State-owned Central Bank of India has decided to reduce home loans by 10 basis points to 10.65 per cent (for the loan segment between Rs 30-75 lakh) and to 10.90 per cent (for above Rs 75 lakh). Similarly, the bank has reduced of 50-200 basis points in other forms of retail loans.
The dip in rates would bring in good news for potential home buyers who are reeling under high rate of inflation.
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[...] Home loans to become cheaper [...]
[...] Home loans to become cheaper [...]