Move to re-finance your house financing to store into EMI repayments
Wednesday, January 15th, 2025Anagh Friend
- Due to the fact , the fresh new EMI each lakh went right up from ?899 so you can ?step one,044.
- You may choose to prepay the loan or shell out even more EMI quarterly or absolutely nothing more the regular EMI per month.
Immediately after RBI boosted the repo speed from the twenty five basis several points 14 days before, extremely financial institutions have raised their attention cost.
Anywhere between , new RBI possess boosted the repo rates because of the 250 bps. Financial institutions features sent the majority of the rate hikes, otherwise come in the procedure of performing this next couple of weeks.
This means the attention for every single lakh with the an excellent fifteen-12 months mortgage went up off around ?62,000 to help you as much as ?87,000. The EMI for each and every lakh has gone right up because of the sixteen%, away from ?899 so you’re able to ?1044. Very, to own a ?50L mortgage to have 15 years, their EMI would have risen out-of ?forty-two,941 at 7% in order to ?52,211 within mortgage loan away from 9.5%. (more…)
