An MCLR is a prime factor that affects your home loan interest rates. Given below is a brief outline of MCLR and how it impacts the home loan interest rate. What is MCLR? Marginal Cost of fund based Lending Rate (MCLR) is the benchmark rate which is the lowest percentage a lender is allowed to charge while sanctioning advances. An MCLR is dependant on the … Continue reading Mclr – A Primary Factor In Determining The Interest Rate Of Your Home Loan
If you are planning to avail a home loan, then you must be aware of the recent change of RBI loan rules and policies. As per the new RBI guidelines, the EMI has gone up. Why did this happen? It is because the latest repo rate has been hiked by the RBI after banks increased their MCLR (Marginal Cost Lending Rate). To understand RBI home … Continue reading What You Should Know About MCLR (Marginal Cost Lending Rate) in 2019?