Switch from Base Rate to MCLR - Why Bank is forcing Home Loan Borrowers

Has your Loan or Credit manager of the bank suggested you shift from Base Rate to MCLR? If the answer is YES then the bank is misleading you. There is NO Immediate Financial Benefit to Switch from Base Rate to MCLR (Marginal Cost of Funds based Lending Rate). In anticipation of an increase in interest rates, banks are forcing borrowers to switch to MCLR linked home loan. Whereas it is more beneficial for the borrower to stick to base rate if interest rates start increasing. This video...

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Related topics : bank loan interest rates / home loan rate interest

Fixed vs Floating Interest Rate Home Loan - Part II

In the Part I of this series we discussed why it is important to select the right home loan product (Interest Rate type). I also shared the Pros and Cons of Fixed Interest Rate Home Loan.

In Part II, we will discuss the pros and cons of Floating Interest Rate Home Loan and How to decided between the Fixed vs Floating Interest Rate Home Loan.

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Related topics : home loan rate interest / interest rates loan