Loan on Floating Interest Rate and Fixed Interest Rate Difference
What is a Floating Interest Rate?
A floating interest rate, also known as a variable or adjustable rate, changes over time based on the base rate set by the bank or financial institution, which is linked to a benchmark (like the RBI repo rate).
✔️ Key Features of Floating Interest Rate Loans:
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Rate changes as per market conditions.
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EMIs may increase or decrease.
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Can benefit from falling interest rates.
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