Loan for personal Home at Low Intrest rate

 Borrowers should possess a thorough knowledge of the key factors influencing home loan interest rates in India before applying for this credit option. Thanks to the easy availability of home loans, people can now fulfil their dreams of owning a home. Furthermore, the high-value loan amount and the competitive home loan interest rates have made this credit facility popular among homebuyers in India. The monthly instalments and borrowing costs are significantly impacted by interest rates. Therefore, borrowers should possess a thorough knowledge of the key factors influencing  home loan interest rates in India before applying for this credit option. How Do Financial Institutions Determine the Home Loan Interest Rates Lending institutions consider the following factors while determining the home loan interest rates for a particular borrower: Location of the property The property’s location also impacts the interest rates on a home loan. If a property is located in a posh location with am

 Fight against inflation remains major concern, growth forecast is lowered to 6.8 pc from 7 pc this fiscal says RBI. Reserve Bank of India Governor Shaktikanta Das announces the bi-monthly monetary policy, Wednesday, Dec. 7, 2022 hiked the key policy rate, the repo rate or the rate at which the RBI lends funds to banks, by 35 basis points to 6.25 per cent in a bid to rein in retail inflation. What impact will the RBI’s decision have? Lending rates of banks are expected to go up as the cost of funds is expected to rise further. EMIs on vehicle, home and personal loans will also rise. The external benchmark linked lending rate (EBLR) of banks will rise by 35 bps — one basis point is one hundredth of a percentage point— as such loans are linked to the Repo rate. As much as 43.6 per cent of the total loans are now linked to the Repo rate. Marginal cost of funds-based lending rates ( MCLR ), which accounts for 49.2 per cent of the loans portfolio of banks, are also expected to move up. The