Is it prudent to opt for fixed rate on car loans in the rising interest rate scenario?
Updated: 26 Jul 2022, 07:49 AM IST
TL;DR.As RBI is expected to further raise repo rates, the loan EMIs would follow suit. So, borrowers seeking car loans may want to opt for fixed rate to lock their EMIs instead of getting constant shockers every few months. Read further to know more.
Floating rates are seen as a better alternative only when the inflation has peaked.