It’s definitely good news for people who have car loan and home loans since the rate of payment is to come down. This is due to the action done by Reserve Bank of India where it slashed cash reserve ratio by 25 basis point to 4.50 %. For the knowledge of everyone, the CRR is […]
RBI has mentioned a circular to all banks stating that they need to ensure they have followed the system that they have implemented where banks are not allowed anymore permitted to charge prepayment penalties on home loans on floating interest rate basis. Borrowers can now freely shift loans without incurring prepayment charges. There might be […]
