Browsing Tag
EMIs
Home Loan, Car Loan EMIs to Increase as RBI Hikes Repo Rate by 35 bps; What Should Borrowers Do
RBI MPC Meeting December 2022: The Reserve Bank of India (RBI) has increased the repo rate by 35 basis points to 6.25 per cent in its December Monetary Policy Committee (MPC) meeting. So far in FY23, the MPC has increased the repo rate by…
Indian Overseas Bank Increases MCLR, EMIs to Get Costlier; Details
Indian Overseas Bank has hiked the marginal cost of funds (MCLR) by 15 to 35 basis points across tenures. The new rates are set to come into effect on December 10. The MCLR hike by the public sector banker follows the recent revision in the…
HDFC Bank Raises MCLR Rate; Loans, EMIs Get Costlier; Check Details
HDFC Bank, India’s largest private sector lender, has raised its marginal cost of funds-based lending rate (MCLR), effective from December 7, 2022, thus making home, vehicle and personal loans expensive. Its overnight MCLR has risen to 8.30…
PNB, ICICI Bank, Bank of India Hike MCLRs By Up To 25 bps; Loan EMIs To Go Up
As interest rates across the world, including, is increasing to control high inflation, the banks are also following the suit by hiking the interest rates on both loans and deposits. Several banks recently raised FD rates twice in a month.…
Home Loan EMIs: A 150-250 bps Hike In Interest Rates Leads To Installments Go Up By 8-21%
An increase of 150-250 basis points (bps) in interest rates may lead to EMIs going up by 12-21 per cent in the case of prime home loans and 8-13 per cent in the case of affordable home loans while maintaining the original tenure, according…
Union Bank of India, Bank of Baroda Raise Loan Interest Rates; EMIs To Go Up; Details Here
Union Bank of India and Bank of Baroda raised their marginal costs of funds-based lending rates (MCLR) on loans. While Bank of Baroda has increased its MCLR by 10-15 basis points across all tenures, Union Bank of India has raised the rate…
If RBI makes an off-cycle rate hike tomorrow, what will it mean for loan EMIs?
On October 27, RBI announced an additional meeting of the MPC to be scheduled on November 3, 2022.
In the previous policy's minutes of the meeting, RBI had said the next meeting of MPC was to…
‘When the rates of interest fall, EMIs will come down’
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15…
Your SBI loan EMIs are set to become more expensive. Here’s why
The State Bank of India has hiked its marginal cost of lending rate (MCLR) on loans by 25 basis points across all tenures. It means that the equal monthly instalments for those who took loans against the rate will become expensive.…