Interest rates on home loans likely to drop

Interest rates on home loans above Rs 30 lakh will become cheaper, with the RBI making it less expensive for banks and finance companies to extend big-ticket home loans. The biggest reduction is expected in home loans of over Rs 75 lakh. At present, home loan rates are linked to loan size. Rates are lowest for loans up to Rs 30 lakh and rise with the size of the loan.

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