Repo rate: What is it and how does it impact your EMIs

Repo Rate: What Is It And How Does It Impact Your EMIs

What Is Repo Rate?

The rate at which RBI lends money to commercial banks.

When Repo Rate Rises?

A hike in repo rate makes credit costlier, and thereby loans become costlier.

When Repo Rate Falls?

On the other hand, reduced repo rate lowers the cost of borrowing.

Does It Impact My Personal Loan?

Personal Loans are issued at a fixed rate of interest and won’t be affected with a change in repo rate.

Important to Note

In case of a new personal loan, however, the rate of interest may change in direct relation to the repo rate change. 

Check out our Personal Loan EMI Calculator to know your monthly payments on your Personal Loan.