Automatically adjust home loan interest rates (PLR to MCLR)
This petition had 25 supporters
Home owners who have taken home loans under PLR (Prime lending rate ) continue to suffer bank apathy in terms of not automatically passing the benefits of lower lending rates. Even though new customer get such benefits under MCLR.
Creating this petition to have RBI lay guideline to transfer all PLR customers to MCLR .
"The RBI introduced the MCLR (marginal cost based lending rate) method, effective April 2016, to enable a faster transmission of rate cuts to bank customers, replacing"
For more details please access : http://economictimes.indiatimes.com/wealth/borrow/still-paying-interest-on-home-loan-at-old-rates-cut-emi-by-switching-to-mclr-linked-rate-now/articleshow/57702175.cms
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