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3 more months EMI Moratorium extension | Home Loan Interest Rates will fall | RBI Monetary Policy
Original: మరో 3 నెలలు EMI Moratorium extension | Home Loan Interest Rate లు తగ్గనున్నాయి | RBI Monetary Policy
Takeaway
Use the 3-month EMI moratorium extension only if your income is actually disrupted - otherwise it just balloons your interest cost.
Summary
- RBI extended EMI moratorium by 3 more months from 1 June 2020 to 31 August 2020, on top of the earlier March-May window
- Moratorium applies to home loans, personal loans, credit card loans, gold loans, auto loans across banks, cooperative banks, RRBs, NBFCs and HFCs
- Moratorium is optional - take it only if your income is genuinely impacted by Covid, otherwise interest accrual makes it costly
- Home loan interest rates expected to fall further given RBI's accommodative stance
- Step-by-step explainer of monetary policy highlights and consumer implications
RBIMoratoriumHome LoanMonetary PolicyCovid
Original description
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