Posted On : 25-Aug-2022
Reference : Money Control
RBI HIKES REPO RATE BY 50 BPS: EMIS TO SHOOT UP FOR BORROWERS, INTERESTS TO RISE FOR DEPOSITORS
Typically, when interest rates go up, banks tend to extend loan tenure and not EMI first, pushing up the interest outgo for home loan borrowers significantly over long tenures of 15-30 years.