Key Points
Home loan interest rates vary with each individual and it also depends on their credit score, income, tenure type of interest, Loan-to-Value (LTV) ratio, MCLR, RLLR etc,..
Here is a comparison of private banks and public bank interest rates on home loans for amounts above Rs 75 lakh...
As the interest rate cycle moves from rising rate to falling rate, it would be better for a home loan borrower to have the loan in EBLR to gain quickly from the fall...
If you have taken a loan from a bank that is under an older interest rate regime like BPLR, Base Rate or MCLR, the bank would allow you to easily switch to EBLR..
However, despite switching to EBLR if your interest rate is higher than other banks then you may consider refinancing your home loan..
