Kotak Bank
RBI Monetary Policy | RBI holds repo rate at 6.5%: No impact on home loan EMIs
Your home loan interest burden and equated monthly installments (EMI) will remain unchanged for now as the Reserve Bank of India (RBI) kept the repo rate steady at 6.5 percent for the seventh time in a row on April 5.
“This move aims to keep inflation in check within the targeted range while sustaining market momentum,” says Adhil Shetty, CEO of BankBazaar.com. He adds, the central bank’s strategy reflects careful consideration of robust economic indicators, amidst factors such as monsoon performance, US federal decisions, and overall economic growth, ensuring continued high growth prospects for the country.
Wait for lower rates continues
“A stable repo rate signals consistency in interest rates for borrowers, providing assurance to homebuyers regarding steady loan interest rates, beneficial for both new loans and existing ones with floating rates,” says Shetty.
