Emi Burden

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RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line
Business

RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line

If there was an expectation that the new repo-rate linked loan rate-setting mechanism will lower the EMI burden on borrowers, it has been proved wrong.

SBI launches cheaper home loans for 7th Pay Commission beneficiaries
Business

SBI launches cheaper home loans for 7th Pay Commission beneficiaries

The new product includes extending the repayment term till the borrower turns 75 years from the existing 70 years, and also a full waiver of processing fees, it said.