Hindustan Times (Chandigarh) - Estates - - ESTATES -

Banks and fi­nan­cial in­sti­tu­tions cut MCLR, mak­ing home loan cheaper It be­comes rel­a­tively cheaper to own a house through a loan Only new bor­row­ers will get cheaper loans Bor­row­ers who bor­rowed be­fore April 2016 will have to re-ne­go­ti­ate loan terms to get the ben­e­fit of low­ered in­ter­est rates Bor­row­ers who bor­rowed after April 2016 will have to wait till the one year lock-in pe­riod of in­ter­est gets over. Low­est home loan rate is now 8.45%, which com­pares to the 2010 rate lev­els. Ex­pect fur­ther rate cuts in the near fu­ture as bank de­posits in­creased by 10 times more than bank cred­its

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