BRAND-NEW DELHI: The RBI’s statement is good news for
home mortgage customers
with a
safe earnings
, as
rates of interest
in this classification will come down by 40
basis points
(
100 bps equivalent
1 percentage point) to around 7%. This is the lowest level in over 15 years.
Also, debtors who are dealing with earnings unpredictability due to the fact that of the Covid-19 lockdown can get an
additional
three-month moratorium to get their financial resources in order. Those borrowers who have not availed of a moratorium up until now however are now dealing with income pressure can still delay