How loan EMIs, bank FDs could be impacted by RBI's interest rate hike3 min read . Updated: 05 Aug 2022, 11:38 AM IST
- Home loan EMI of new borrowers is expected to shoot up by near ₹1,000 per month, if banks raise home loan interest rate by 50 bps, say experts
The Reserve Bank of India (RBI) today raised repo rate by 50 bps to 5.40 per cent, thus reaching to pre-Covid levels. Aiming to contain inflation by squeezing the liquidity in the market, RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) hiked the policy repo rate for the third time in a row on Friday.
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