Banks may bring down EMIs on home loans if you ask
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Moin Sayed
May 12, 2012, 12:22:03 PM5/12/12
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12 MAY, 2012, 06.16AM IST, ET BUREAU
Banks may bring down EMIs on home loans if you ask
When the RBI cut interest rates seven weeks ago, home buyers heaved a sigh of relief. Although several banks have now begun to offer 'discounts' to new customers, existing borrowers are still paying the old EMIs. Reason: some banks haven't changed their base rates, the benchmark for consumer loans. So is there a way out?
Yes. But the only hitch is that banks are unlikely to offer the reduced rate on a platter and expect you to tell them that your EMI is way too high. Sometimes even a mild threat of switching banks may work.
Yes. But the only hitch is that banks are unlikely to offer the reduced rate on a platter and expect you to tell them that your EMI is way too high. Sometimes even a mild threat of switching banks may work.
Moin Sayed
May 12, 2012, 12:25:22 PM5/12/12
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