How the repo rate hike impacts your loan EMIs and tenor

How the repo rate hike impacts your loan EMIs and tenor

Atul Monga, CEO and co-founder of BASIC Home Loan explains that since a major chunk of home loan EMI goes towards meeting the interest component, with the hike, the EMI burden is expected to increase significantly.

Adhil Shetty, CEO of BankBazaar.com notes that all consumer loans have got costlier this year. Borrowers are under pressure of rising EMIs and mounting interest.

We take a look at how an increase in home loan interest rate from 6.5% to 8.75% on account of the 225 basis repo rate hike so far impacts your home loan payout: home loan.