What is Floating rate of interest?

In a floating rate loan the interest rate is not fixed. It varies with prevailing interest rates in the debt market.  In most cases the EMI remains unchanged, the tenure is increased (or decreased). However the fact we all know is that a rise in interest rate is quickly passed on to customers than a fall. Still it is better to go for a floating rate loan when the rates appear to have reached a peak and are anticipated to fall.

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