What is RBI's new rule on home loan interest rate

Rising interest rates have led to 20-year home loan tenures of borrowers, rising up to 40 years. RBI has now come with a new rule, where banks need to give both existing and new home loan borrowers the option to choose fixed interest rate. The new rule is effective from 31 December 2023 in today's episode, we chat with Harshad Chetanwala, co-founder of MyWealthGrowth.com on whether borrowers should move from floating rate to fixed rate or stick with the former. Learn more about your ad choices. Visit megaphone.fm/adchoices