The RBI on Friday directed banks to allow individual borrowers paying loans through EMIs to opt for fixed interest rate system or extension of loan tenor, a move aimed at preventing loanees from falling into the trap of negative amortisation, in wake of rising interest rate.
The interest rates
The increase in interest rates on home loans have affected the affordability of residential properties across all eight major cities during the first six months of this year, according to Knight Frank India.
On Wednesday, real estate consultant Knight Frank India released its ‘Affordability
The index tracks if the Equated Monthly Instalment (EMI) to income ratio has increased or decreased for an average household and then delivers the results. | Latest News India