Home loan rate cut: Home, consumer loans from NBFCs to become cheaper
Synopsis The average base rate of 5 largest commercial banks in India has fallen by 0.15% from 7.96% to 7.81% for the quarter ending March 31, 2021. Getty Images New borrowers of NBFCs and MFIs will have to pay lower interest from the first quarter of the new financial year 2021-22. Apart from new borrowers this interest rate reduction will also benefit individuals who have taken floating rate loans such as home loan from these lenders. RBI has released the latest average base rate which works as a benchmark interest rate for Non Banking Financial Companies (NBFCs) and Micro Finance Instituti...
Source: indiatimes.com