InvestorQ : Will the new repo rate cut by RBI governor Shaktikanta Das change home loan interest??
shivani Walawalkar made post

Will the new repo rate cut by RBI governor Shaktikanta Das change home loan interest??

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Purvesh answered.
3 years ago
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SBI is giving any previlage for Home loans?

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priya Shah answered.
3 years ago
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The most Indian banks were eagerly waiting for RBI’s rate cut and Governor Shaktikanta Das with his Monetary Policy Committee (MPC) has reduced the repo rate to 25 bps. The repo rate now after the rate cut is at 6%. This move is aimed to increase the growth of the Indian economy. Repo rate is the rate at which the RBI lends money to commercial banks. If RBI reduces the repo rate then banks will be able to get more money supply at less rate and so the lending to their customers or public can be at a lower rate. Banks will be able to offer loans at lower interest rate thus increasing the demand from the public. At a lower interest rate, demand for the home loan might increase and thus giving a boost to macro-economic factor. This means that you can now get a home loan at a lower interest rate. If you are planning to apply for a home loan then wait for the banks to pass on the benefits of repo-rate to implement on your interest rate and then apply.
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