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home loan interest rate: 6 steps for borrowers to reduce home loan EMIs as RBI to keep higher interest rate for longer

Home loan borrowers have witnessed one of the worst nightmares when the interest rate home loan shot up significantly in 2022 and 2023 after multiple repo rate hikes by RBI. Since then they have been paying higher EMIs and eagerly waiting for the interest rate to come down. Their wait seems to be getting longer as RBI holds the repo rate however, there are many other steps they can take to reduce their home loan EMIs. ....

Shishir Baijal , Adhil Shetty , Upasna Bhardwaj , Kotak Mahindra Bank Anu Aggarwal , Institutional Research At Prabhudas Lilladher , Pantomath Financial Services Group , Kotak Mahindra Bank , Reserve Bank , Consumer Price Index , Managing Director , Knight Frank , Shraddha Umarji , Economist Institutional Research , Chief Economist , Anu Aggarwal , Head Corporate Banking , Kotak Mahindra , External Benchmark , Lending Rate ,

Bank lending up 16.5% in February, lending rates fell sequentially

In February, bank lending increased by 16.5 percent, with loans to industry and services growing faster while retail loans growth moderated, as per RBI data. Non-food bank credit rose by 16.5 percent year-on-year, compared to 15.9 percent last year. Retail loans growth slowed to 18.1 percent, mainly due to decreased growth in vehicle loans and personal loans. ....

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Up to 58% of home loan borrowers take Rs 10-50 lakh loans: Bank of Baroda study

As of September 2023, the home loan segment had the highest outstanding loans at 53.5 percent, followed by personal loans, vehicle loans, credit cards and consumer durable loans ....

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Depositors benefit more in this rate hike cycle

“The demand for funds is high given the credit growth of 15-16 percent. Banks need to garner more funds through deposits even at higher rates” said Sachin Gupta, chief rating officer CareEdge Ratings “ Besides some banks are focusing on building durable long-term and stable funding sources even if it means paying higher interest.” ....

Sachin Gupta , Careedge Gupta , Careedge Ratings , Reserve Bank , Kuntal Sur , Pwc India , External Benchmark , Lending Rate , June Financial Stability Report , Rate Transmission ,

Depositors benefit more than borrowers this rate hike cycle

“The demand for funds is high given the credit growth of 15-16 percent. Banks need to garner more funds through deposits even at higher rates” said Sachin Gupta, chief rating officer CareEdge Ratings “ Besides some banks are focusing on building durable long-term and stable funding sources even if it means paying higher interest.” ....

Careedge Gupta , Sachin Gupta , Careedge Ratings , Reserve Bank , Kuntal Sur , Pwc India , External Benchmark , Lending Rate , June Financial Stability Report , Rate Transmission ,