First Published: 08 Feb 2023, 10:33 AM IST
How does RBI interest rate hike impact your EMIs, explained
Updated: 08 Feb 2023, 10:57 AM IST
When the RBI raises its repo rate, it leads to an increase in the interest rates banks offer for loans. This will result in an increase in the EMIs for your loan. The extent of the increase in EMIs will depend on the type of loan and the interest rate it was taken at. It is important to keep an eye on the repo rate and to be aware of the effect it can have on your loan EMIs.