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Tag: RLLR

With Interest Rates at Decadal Lows, Should You Go for a Fixed Interest Rate Home Loan?

Deepesh Raghaw

May 5, 2021

Home loan interest rates have been moving down over the last couple of years. At some point in time, the interest rates will bottom out. Some of us may feel that the interest rates have already bottomed out. In that case, if you are planning to take a home loan, is it a good idea to… Continue Reading

Should You Switch from MCLR to EBR (or External Benchmark Loan)?

Deepesh Raghaw

October 16, 2019

The bank must link all new floating rate loans to retail customers loans from October 1, 2019 to an external benchmark. The Reserve Bank notified the change in its circular dated September 4, 2019. This means MCLR will soon be history, at least for retail borrowers. Starting October 1, no new floating rate loans will… Continue Reading

Why Did SBI Introduce New Benchmark EBR in Place of RLLR?

Deepesh Raghaw

October 15, 2019

SBI had introduced home loans linked to RBI Repo rates as the benchmark in July 2019. This was before the RBI mandated all fresh floating rate loans to retail borrowers from October 1, 2019 to be linked to an external benchmark. SBI had used Repo rate linked lending rate (RLLR) as the benchmark. RLLR was… Continue Reading

SBI to Launch Repo Rate Linked Home Loan Product in July 2019

Deepesh Raghaw

June 12, 2019

In December 2018, RBI had proposed that all fresh floating rate loans from April 1, 2019 must be linked to an external benchmark. The implementation has since been deferred. It is now up to the banks to come up with products linked to an external benchmark. Citibank had launched a home loan product in the… Continue Reading

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