New Delhi: In the new year 2023, the EMI is going to be more expensive after RBI has decided to hike the repo rate again.

On the last day of the Monetary Policy Committee meeting, the RBI has announced an increase of 0.35 percent in the repo rate.

Earlier, the RBI had already increased the repo rate by 1.90 percent in four monetary policy meetings. That is, in 8 months, the RBI has increased the repo rate from 4 percent to 6.25 percent.

After this decision of RBI, government to private banks and housing finance companies will increase the interest rate of home loan, after which your EMI will become expensive.

The current home loan interest rates will go up by 0.35 per cent as the interest rates on repo rate linked home loans will go up.

Leave a Reply