EMIs May Rise As RBI Hikes Repo Rate. What Should You Do Now?

The Reserve Bank of India (RBI) has announced a 35 basis point (bps) hike in the repo rate, at which the central bank lends money to commercial banks, to 6.25 percent. This is the fifth consecutive hike by the RBI and will lead to a rise in the equated monthly installments (EMIs) of home loans. Those whose home loans are linked to external benchmarks like the repo rate will be majorly impacted. Tune in to find out how much can your home loan EMIs rise and what options you have to reduce the impact of the rate hike now.