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Should borrowers opt for an RLLR-based home loan over an MCLR-linked one?

A reduction in MCLR is good news for home loan borrowers

Topics
repo rate | Home loans | public sector banks

Sanjay Kumar Singh 



Personal loans account for 96% of new bank loans during FY18: RBI data
Representative Image

After the Reserve Bank of India’s (RBI) recent cut of 35 basis points, a number of public-sector banks (PSBs) such as State Bank of India (SBI), Bank of India, Syndicate Bank, IDBI Bank, Allahabad Bank and Bank of Maharashtra have reduced their marginal cost of funds-based lending rates (MCLR) by 5-25 basis points. A couple of banks such as Syndicate Bank and Bank of Baroda have followed in SBI’s footsteps and announced repo-linked lending rate (RLLR)-based . Their deposit rates will also be linked to the .

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First Published: Thu, August 15 2019. 22:06 IST

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