Times of India | 07/12/2022 07:50 PM | Click to read full article
Time to pre-pay your loans? With the Reserve Bank of India (RBI) raising the repo rate by another 35 basis points to 6.25%, your loan repayment math will change as well. How the repo rate hike impacts your loan EMIs and tenor? Atul Monga, CEO and co-founder of BASIC Home Loan explains that since a major chunk of home loan EMI goes towards meeting the interest component, with the hike, the EMI burden is expected to increase significantly.