In this scenario, should borrowers wait for the interest rates to decline further to take a loan or should they go ahead now. Again, it is unlikely that one would put off the loan decision in that case. If you have to borrow now, go for a floating rate loan, especially from a bank that has been prompt in the past to pass on rate cuts. That way, you can avail the best loan prevailing at the time after the rate cut. For fixed loans like car and personal loans, it may be worth waiting to lock into a lower rate over the next few months.

Source: Mint February 18, 2019 03:11 UTC