THE era of low home loan rates are over as they inch towards the 8% mark after the Reserve Bank of India (RBI) on Wednesday increased the repo rate by 0.50 % or 50 basis points.
Earlier, the central bank had increased repo rate by 0.40% or 40 bps on May 4.
These two consecutive hikes mean home loan interest rate, which was nearly 6.5% in April, will now be in the vicinity of 8%.
Loans linked to repo rates will see quick transmission and already banks have announced hike in lending rates following the RBI announcement on Wednesday.
Diese Geschichte stammt aus der June 09, 2022-Ausgabe von The Morning Standard.
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