Currently bank not providing fixed rate loan, and floating rate is best. If you going to take loan than please compare EBLR vs MCLR, check it which is cheaper for you.
Currently bank not providing fixed rate loan, and floating rate is best. If you going to take loan than please compare EBLR vs MCLR, check it which is cheaper for you.
If you go with EBLR scheme than your interest will be changed everytime whenever RBI change rate and you choose MCLR scheme than your rate will be changed yearly, two yearly depending on which MCLR scheme you chosen. If RBI increase rate than your rate increase and decrease than your rate decrease. In EBLR it's effect immediately and in MCLR yearly effect.
