Right time to take Home or Auto Loans
Right time to take Home or Auto Loans https://www.fundstiger.com/home-auto-loans/ Buying a home or car is one of the most important financial decisions for the salaried class. A major part of their disposable income goes towards Equated Monthly Installments (EMIs), if they decided to opt for home or auto loans. So, it becomes very important to get a lower interest rate. The Reserve Bank of India, recently, brought a cheer for people planning to buy a home or automobile by reducing the interest rates for the fifth time this year. The rate cut came as part of RBI’s efforts to kickstart the languishing economy as it slashed the GDP growth projection for financial year 2019-20 to 6.1 per cent from the earlier forecast of 6.9 per cent. In the latest meeting of six-member monetary policy committee (MPC) the repo rate was cut by 25 basis points to 5.15 per cent. The reverse repo rate was reduced to 4.9%. This is the fifth consecutive rate cut. This was in addition to a cumulative 110 ba...