Switching to repo-linked home loans? Five things you need to know

You will gain from their transparency

• Repo rate linked loans of players that have launched this product are lower than their MCLR-linked rates
• Old borrowers on MCLR-linked loans should enquire with their banks how they can shift to its repo-rate linked loan
• Borrowers will have to apply themselves. The banks won’t shift them automatically
• If their bank is not ready to shift you, consider shifting to another one
• The primary reason for shifting to these loans is that they are more transparent. The borrower’s rate will change from the next month