RBI repo rate hike: What does a 25 basis point increase mean for your home loan EMI?
The Reserve Bank of India raised its policy repo rate by 25 basis points to 5.50% on October 7, marking the first increase in over three years. This hike may raise borrowing costs for home loan borrowers, potentially increasing EMIs for existing floating-rate loans. The impact on individual EMIs will depend on how lenders adjust their rates in response.