Repo rate hike of 25 bps could raise home loan EMIs
The Reserve Bank of India will announce its monetary policy decision on Wednesday, October 7, with economists expecting a 25-basis-point repo rate hike from 5.25% to 5.50%. That would be the first increase since February 2023. BankBazaar calculations show that on a Rs 50 lakh loan for 25 years, a rate move from 7.5% to 7.75% would raise the EMI from Rs 36,950 to Rs 37,766, adding about Rs 2.45 lakh in total interest.