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RBI raises the limit of discounted home loan, Due to this RBI's decision will benefit those who buy a home.

May 9, 2019
RBI raises the limit of discounted home loan,  Due to this RBI's decision will benefit those who buy a home.

More interest rates will not be kept even higher if you take a home loan. For this, the Reserve Bank of India (RBI) has increased the limit of home loan under Priority Sector Lending (PSL). RBI has issued instructions to banks in this regard. This is the change Under the RBI's decision, the limits of Rs 35 lakh will be the limit for metro cities (whose population is 10 lakh and above).

Earlier, there was a limit of Rs 28 lakh for these cities. However, its condition is that the total cost of the house should not be more than Rs. 45 lakhs. Similarly, for the areas where the population is less than 10 lakh, the RBI has directed banks to make this limit to Rs 25 lakh, which was Rs 20 lakh earlier.

The condition here is that the total cost of the house should not be more than Rs 30 lakhs.

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