HomeNewsBusinessPersonal FinanceBanks are increasing MCLR rates: Should you switch to repo-linked home loans and save on EMIs?

Banks are increasing MCLR rates: Should you switch to repo-linked home loans and save on EMIs?

Hiral Thanawala • July 27, 2023 / 18:19 IST

If your home loan is linked to MCLR, switching to a repo-linked home loan rate can reduce your interest costs. However, do the math first and calculate the savings instead of relying on vague estimates.

This MCLR rate is being hiked even though the Reserve Bank of India did not increase the repo rate in April and June.

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