EMIs instalments to increase post RBI’s fourth interest rate spike

by: Sayantan Barua

EMIs instalments to increase post RBI’s fourth interest rate spike

EMIs instalments to increase post RBI’s fourth interest rate spike

by: Sayantan Barua

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TW Newsdesk, October 1: The Reserve Bank of India‘s fourth interest rate hike in five months is set to spike equated monthly instalments (EMIs) for individual borrowers and could impact consumption and demand for loans, especially as there is no end in sight for the current cycle of rate increases, revealed sources..

On Friday, September 30, RBI announced another 50 basis points increase in its benchmark repo rate, which is likely to be passed on by banks to individual borrowers just like it has been over the last five months.

Consequentially, , home, car and loans for personal consumption are set to get costlier.

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