EMIs on home loans to remain unchanged as RBI maintains status quo on repo rate
financialexpress.comThe Reserve Bank of India (RBI) in its bi-monthly meeting of the Monetary Policy Committee held on December 8, 2021 kept the repo rate unchanged at 4 per cent.
The status quo on the policy rate comes as a relief to those servicing EMIs on home loans and car loans as they will continue paying the same rate of interest as applicable to them currently.
However, this relief may be restricted only to those paying EMIs on home loans linked to the bank’s Repo Linked Lending Rate (RLLR). The borrowers paying EMIs on home loans linked to the bank’s Marginal Cost of Funds based Lending Rate (MCLR) may still see a revision in their next month’s EMI.
“The RBI’s decision on keeping the repo rate unchanged will certainly bode well for all interest-sensitive
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