(SBI) chairperson Arundhati Bhattacharya says that if borrowers want to know what EMIs they have to pay, they can opt for a fixed-rate loan for a longer period of time. In an interview with TOI, she also said that SBI is betting big on technology, given that it has to service a few crore more customers without increasing costs. Excerpts: With the new benchmark rates being reviewed every month, should new home loan borrowers keep checking rates or will the annual reset take care of everything? Customers need to keep checking the rate. The Base Rate (which is reviewed quarterly and below which a bank cannot lend) and Marginal Cost of Lending Rate (which is a rate derived out of incremental cost of deposits, and is reviewed every month) are apples and oranges. Borrowers have to understand what the MCLR is and identify their risk appetite. If they believe that it is better to know for sure what their future EMIs will be, they can choose to fix their rate for a longer period of time. We will soon come out with a home loan that will have a fixed rate for a longer period. They can also choose to go with the floating rate - the MCLR. But to do a proper management, you need to keep watching rates.