Home loan borrowers can consider repricing their loans to benefit from lower interest rates. Repricing can either lower the EMI or reduce the loan tenure. It is important to consider processing fees and other charges when calculating savings over the life of the loan. Switching to a repo rate-linked loan can bring down the burden for borrowers with base rate-linked loans. MCLR borrowers should calculate their savings before making a shift.
Tap for more at Moneycontrol
