Key Points
Long wait for home loan borrowers to get some respite high interest rate is likely to be a bit longer as the Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting held on June 7 decided to keep the repo rate unchanged at 6.5%..
Interest rate on home loan had risen sharply after RBI went for a 2.5% hike in repo rate between May 2022 and February 2023..
As a result home loan borrowers had to pay much higher EMI and have been eagerly looking for interest rate cycle to reverse so that their EMIs could come down..
We tell you how long you will have to wait for an interest rate cut, how significant the rate cut could be this year and what you should do with your home loan...
Forecasts regarding inflation might be revised down slightly, while growth predictions regarding GDP are expected to remain stable, says Atul Monga, CEO & Co-founder of BASIC Home Loan...
You might be interested in
Will home loan EMIs fall as RBI holds repo rates? Do this now to ease burden of EBLR, MCLR, base rate and
08, Dec, 23Home loans borrowers have been paying a significantly higher EMIs than what they paying 2 years ago due to RBI repo rate hike of 2.5%. As the global inflation cools down the sign of a reversal of interest rate cycle are getting stronger. So when will home loan borrower see their EMIs falling? We tell you how you should make the best of the any rate cut in future.
Home loan EMIs may fall 3.5% this year despite RBI MPC holding repo rate
08, Feb, 24RBI MPC announcements today: A 0.5% drop in your home loan interest rate can save you Rs 3.83 lakh if the interest rate on your Rs 50-lakh loan for 20 years comes down from 9% to 8.5%. This will give much needed relief to old home loan borrowers who have seen their interest rate rise sharply within the last 3 years.
Home loan borrowers may have to wait longer for EMIs to drop as RBI holds repo rate
10, Aug, 23Home loan borrowers have been struggling with a steep hike in their EMIs due to hike by 2.5%. With three consecutive hold in repo rate in RBI MPC hopes of these borrowers has gone up to see a fall in interest rate. Will they see a fall in their EMIs soon?