Banks should look at the possibility of introducing home loans with lower EMIs and higher repayment period of up to 30 years, according to the Reserve Bank of India. The RBI draft report on home loans has suggested that banks should introduce and popularise long-term fixed rate home loan with a provision of re-fixing the interest rate after period of seven to 10 years. At present, banks give home loans with a maximum tenure of 20 years.........
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