The rate cut is being seen as a positive signal for India’s real estate sector, which had been facing demand-side pressures. Industry experts say this move could revive buyer sentiment, especially in the mid-income and affordable housing segments.
The Reserve Bank of India has recently decided to ask banks to mandatorily link their loan products to key repo rates or external benchmarks. It ensures faster transmission of policy rate cuts to borrowers. This is done to ensure transparency, standardization, and ease of understanding of loan products by borrowers. Here is a detailed insight.
Do you know what Repo Rate is and how it is decided by the RBI? It is an important deciding factor affecting the home loan and auto loan rates. Read the blog to know the details.
Before buying your dream house and applying for a home loan, make sure that you are well-informed about the details of home loan, interest rates offered by different banks and the procedure to avail a hassle-free home loan.