What does decrease in BPS means for home loan ?
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As the topic says, I got email that due to a revision, the BPS is being cut by 5 bps from next month. Does that mean reduction in EMI ? if yes how much will the interest reduce ?
Bank : HDFC
Home loan
Current rate : 8.05% for 20 years.
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https://www.desidime.com/discussions/what-does-decrease-in-bps-means-for-home-loan?page=1#post_6548383
Thanks bro 
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https://www.desidime.com/discussions/what-does-decrease-in-bps-means-for-home-loan?page=1#post_6548547
Emi will never change… Ur interest amount fr ur tenure will change if home loan is floating
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BPS – BASIC POINTS
1 BPS = 0.01%
5 BPS = 0.05%
BPS is banking terminology