News > How Much will EMI Increase After Rbi Repo Rate Hike
How Much will EMI Increase After Rbi Repo Rate Hike
CNBC TV18 | 06/05/2022 04:43 PM | Click to read full article
Banks are required to link the interest rates of loans with an external benchmark, which is usually the RBI’s repo rate. Therefore, a rise in the external benchmark or, in this case, the repo rate will cause a hike in interest rates as well.
This also means the deposit rates offered by the banks are expected to increase. Here are the details of how much EMI borrowers will need to pay following the repo rate and the subsequent interest hike on home loans.