 "Planning to take home loan? This is good time to explore fixed-rate option")
- 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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