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Thursday, October 27, 2011

Home / Vehicle loans to be costlier / Pre-payment penalty to go / Subsidy up to 15L on home loans

With the Reserve Bank of India (RBI) hiking the repo rate by 25 basis points, the home loans and vehicle loans are set to attract higher interest rates. The measure was taken by RBI to counter rising prices. The impact of a 25 basis points increase on EMIs for home and auto loans will be Rs 16 per lakh. So if you take a loan for Rs 10 lakh for 15 years tenure at 11.5% interest you were paying an E....
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