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Economics3h 0m ago
Borrowers are advised to consider switching home loan lenders if interest rate differences are significant, with rates for loans up to Rs 30 lakh ranging 7.10–8 percent at major banks as of May 29, 2026.
India
Who
Adhil Shetty (CEO of BankBazaar), Reserve Bank of India (RBI), Axis Bank, ICICI Bank, HDFC, Kotak Mahindra Bank, Bank of Baroda
What
Borrowers are advised to consider switching home loan lenders if interest rate differences are significant, with rates for loans up to Rs 30 lakh ranging 7.10–8 percent at major banks as of May 29, 2026.
When
Fri, 19 Jun 2026 14:01:21 GMT · 3h 0m ago
Where
India ·
Why
To achieve substantial savings on overall borrowing costs over the long term due to varying interest rates among lending institutions.
The Frontline Impact
How this affects you
A 0.5 percentage-point reduction in home loan interest rates can reduce monthly EMI by approximately Rs 1,500, potentially saving nearly Rs 3.6 lakh in interest over a 20-year loan tenure.
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