Borrowers may still see lowered EMI’s

“This is a surprise move by the RBI as we were expecting a 25-50 basis point reduction of the repo rate. The market has been gaining stability and post-Union Budget, further ease was on the cards. Even though the RBI has not provided any rate cut this time, fresh home loan borrowers should not worry much as they may still witness lowered EMIs because amid intensifying competition among lenders, banks might be forced to start cutting down the interest rates themselves.”

Rajesh Goyal V-P, Credai Western UP & MD, RG Group