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For personal or credit card loans, it's time to scout for good rates

You can raise cheaper personal loans online to repay unsecured loans. For home loans, banks are taking documents online, but property verification may take time

Topics
Coronavirus | Personal Loan | Reserve Bank of India

Bindisha Sarang 



loan, interest rates, credi card
While PSU banks are focusing on existing lenders, digital lenders like Money tap are offering loans to both new and existing customers as well

The Covid-19 pandemic has led to a sharp drop in by banks. State Bank of India, the country’s largest bank, announced cut in the marginal cost of the fund-based lending rate at 7.4 per cent on Tuesday. It had already cut the external benchmark linked lending rate and repo linked lending rate to 7.05 per cent and 6.65 per cent. Most other banks have also cut their lending and deposit rates substantially. And while you are sitting at home, you can use this opportunity to switch lenders, especially in case of unsecured personal or .

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First Published: Thu, April 09 2020. 02:00 IST

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