News > EMIs to go up as RBI raises repo rate by 35 basis points to 6.25% - Times of India

EMIs to go up as RBI raises repo rate by 35 basis points to 6.25% - Times of India

Times of India | 07/12/2022 08:15 PM | Click to read full article

The Reserve Bank of India (RBI) raised its key lending rate by 35 basis points on Wednesday as inflation continues to stay above the central bank's tolerance band. Since banks link their lending rates with repo rates on various term loans, any change in the repo rate will have an effect on the EMIs as well. This fiscal, since May, RBI has already hiked the repo rate by 1.9% to tame multi-year high inflation which also led to a significant surge in home loan EMIs.

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