New Delhi, Nov. 3 -- Following the US Federal Reserve's move to raise benchmark rates in September, the Reserve Bank of India announced an increase of 25 basis points in the policy repo rate on 7 October. Typically, such increases signal that interest rates are set to rise for a range of financial products, including loans and deposits.

Big-ticket corporate loans follow their own evaluation dynamics regardless of rising or falling rates. Consumer credit, however, reacts almost immediately to changes in interest rates and thus has a real-time impact on our day-to-day living standards. What should you buy? Property, vehicle, jewellery, electronic items, travel? And equally importantly, when should the purchase be made?

The timing of the r...