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I have taken a sanction on floating rate and have not availed any disbursement till date, how will the change impact me?

April 26, 2017availed disbursement floating impact rate sanction till

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I have taken a sanction on floating rate and have not availed any disbursement till date, how will the change impact me?

2 Answers

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If you have taken a floating rate loan, the rate of interest on your disbursement amount would be 0.75% higher than the rate as specified on your sanction letter due to the change in FRR/ PLR/ IHPLR by 0.75%. The rate would increase, as the rates are subject to change in FRR/ PLR/ IHPLR.

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Your interest rate is valid for 30 days from date of sanction subject to change in FRR. In case you take disbursement within 30 days of sanction, your interest rate will go down by 50 bps (0.