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Lower rates an opportunity to re-negotiate your home loan interest

Start by shifting to repo-linked rates, then seek the lowest rate being offered by lender

Topics
Home loans | Coronavirus | Real estate sector in India

Joydeep Ghosh 



Introduced in May 2017, the scheme had ended on March 31, 2020
In current times, there is a strong case to move for two reasons: Home loan rates are at multi-decade lows and many would be feeling the pinch after the recent salary cuts and/or job losses.

The Covid-19 crisis has hurt borrowers in many ways. The only respite some may have got is the reduction in the rate of interest on . Most lenders have cut rates after a nudge from the government and the Reserve Bank of India. Also, with the system flush with liquidity, lowering rates may be the only way to attract new borrowers.

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First Published: Tue, July 28 2020. 20:33 IST

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