The interest rate set on your loans is mostly depended on the monetary policies of the of central bank. Keeping a check on the demand and supply, the rates are adjusted to ensure stable prices and liquidity. Factors that could affect your interest rate are

  • Prime Lending Rate (PLR)
  • Repo Rate 
  • Cash Reserve Ration (CRR)
  • Repo Rate
  • Reverse Repo Rate
  • Benchmark Prime Lending Rate (BPLR)