Saturday, February 9, 2013
Home Loan will be cheaper in upcoming months in India
After the decision of RBI for reducing the CRR and Repo Rates banks are reducing their base rates. Few banks like- IDBI,SBI,Dena Bank,Union Bank Of India and Bank of India are already slashed the rate after the decision of RBI.. In upcoming months we can expect the same from other banks.
As we know On January 29, Reserve Bank of India in its third monetary policy review cut repo rate (rate at which RBI lends short-term money to banks) and cash reserve ratio (the share of bank deposits parked with the RBI) by 25 bps each. The 25 bps cut in CRR will release Rs 18,000 crore into the system.
It was the the best decision by RBI in interest of customers and that is resulting to achieve its objective to reduce the loan rates.
For latest base rates visit the site - www.loanemi.net
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