The Reserve Bank of India (RBI) has slashed the repo rate by 115 basis points since the lockdown began Interest rates on home loans are at historic lows currently. However, some banks have increased the spread they charge over the repo rate to arrive at the final home loan rate.
They expect more loans to turn bad in the wake of the economic disruption caused by Covid-19. When interest rates are at historic lows, borrowers should explore the fixed-rate option.
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First Published: Sun, June 07 2020. 19:53 IST
