Prepay home loan to tackle 190-bps rise in repo rate since May: Experts

If you don't have a surplus, opt for higher EMI rather than longer tenor

Sanjay Kumar Singh
Last Updated at September 30, 2022 23:50 IST

With pre-payments becoming crucial in the current scenario, go for a lender whose terms for prepayment of loan are not stringent

Home loan borrowers will have to bear the brunt of Friday’s 50-basis-point hike in the repo rate by the Reserve Bank of India. The benchmark rate, which now stands at 5.9 per cent, has risen by 190 basis points altogether in the current rate hike cycle.

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