Big relief! Home loan interest rates set to fall; you dream house now gets a step closer
The apex bank, however, stated that the overall cost of the house in the metropolitan centre and at other centres should not exceed Rs 45 lakh and Rs 30 lakh, respectively to qualify for this benefit. Overall home loan rates may become costlier after RBI's 25 basis point hike in repo rate, but loans up to above-mentioned limit may cost comparatively less.
RBI's new policy statement has brought good news, as interest rates on home loans up to Rs 35 lakh may get comparatively cheaper. Representational Image, source: Reuters