The latest repo rate hike by the RBI has come in a bid to curb inflation. With the latest hike, the repo rate or the short-term lending rate at which banks borrow from the central bank is now close to 6 per cent.
The taxpayer can claim HRA exemption and home loan tax benefits. HRA benefit can be claimed for the rented house and deduction of home loan interest and principal payments towards the self-occupied property
SBI home loan borrowers will get a credit score linked interest rate. There is a uniform rate for any loan amount, according to the State Bank of India.