'When the rates of interest fall, EMIs will come down'

'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.'

from rediff Top Interviews https://ift.tt/WUiOkK3