For anyone planning to buy a home in India, the interest rate on a home loan can have a significant impact on the overall cost of the property. Even a small change in the lending rate can alter the monthly EMI and the total interest paid over a long loan tenure. The Reserve Bank of India (RBI) plays an important role in this equation through its monetary policy, particularly the repo rate. The RBI repo rate stands at 5.25%, after the central bank kept it unchanged through its recent policy reviews. Home loan rates, meanwhile, are starting at around 7% […]
