New Delhi, Oct. 13 -- The Reserve Bank of India (RBI) has raised the repo rate by 25 basis points to 5.50%, marking its first rate hike since February 2023. The decision comes amid inflationary pressures and global uncertainties, with the central bank seeking to balance price stability and macroeconomic conditions.

For home loan borrowers, the hike could mean higher monthly repayments if banks pass on the increase to lending rates. The impact will depend on the loan amount, repayment tenure, lender and interest rate applicable to the borrower.

For someone with a Rs.50 lakh home loan, the monthly EMI could rise by Rs.852 to Rs.867 on a 30-year loan, depending on the lender, according to Atul Monga, CEO and co-founder of BASIC Home Loan....