scorecardresearchHow does RBI's raising of interest rates impact your loan EMI?

How does RBI's raising of interest rates impact your loan EMI?

Updated: 21 Jun 2022, 09:37 AM IST
TL;DR.
We frequently hear about the RBI decreasing or raising the repo rate by a particular number of basis points. When these rates fall, it's always excellent news for commercial banks. So, what effect does it have on your EMI and on you? Let's take a closer look at it.
The RBI's monetary policy committee announced a revised repo rate of 4.00 percent and a reverse repo rate of 3.35 percent, both effective December 2020. The repo rate has decreased by 115 basis points since March 2020.

The RBI's monetary policy committee announced a revised repo rate of 4.00 percent and a reverse repo rate of 3.35 percent, both effective December 2020. The repo rate has decreased by 115 basis points since March 2020.