People who are interested to buy homes have a news to rejoice after the recent repo rate cut by the RBI that has reduced the home loan interest to 7%.
Lower EMI that provides a way for making savings is a dream come true for many home buyers.
But note that those with credit scores over 750-800 are qualified to get home loans at such lower rates of interest. Hence, home buyers should check their credit score first before making the decision.
Thus, many banks have come forward to offer less interest on home-loans. Customers can also get concession on interest rates during the festive season.
Coronavirus era has witnessed increased interest in home buyers as most of them are working from home. The home-buying activity has been high and even the real-estate companies are offering good deals at subdued prices.