BusinessPhoto: News18Hi BusinessHome Loan EMI to Rise by ₹2400 on ₹50 Lakh Loan Due to RBI...
Uday Kotak, founder of Kotak Mahindra Bank, stated that the RBI may increase the repo rate by 0.75% soon. This hike will raise interest rates on retail loans, including home loans, causing EMIs to increase. For a ₹50 lakh home loan, the EMI could rise by ₹2400, posing a financial challenge for homebuyers.
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