RBI keeps REPO RATES same; Eases Home Loan provision

home-loan-guide

The Reserve Bank of India has made it possible for banks to lend more to Home buyers, and at lower rates, in a move that should benefit customers as well as real estate developers. The  central bank did this by reducing the amount of money banks have to set aside (as security)  on home loans. The reduction also means lower home loan rates. Previously, the banks had to set aside 0.4% or Rs. 400 per lakh . This has now been reduced to 0.25%, or  Rs. 250 per lakh.

 

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