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Saturday, March 16, 2019

MCLR rate cut: How it impacts your loans

 If you are opting for a floating rate loan, MCLR is the benchmark rate to which you loan will be linked. If your home loan MCLR is linked to 6-month MCLR, your interest rate will get reset only after the completion of six months in case there is a change in the rate at the time of the reset
Source: LM