RBI increases REPO Rate by 35 Basis points to 6.25%

RBI has increased the repo rate by 35 basis points to 6.25 percent recently on 7th Dec 2022. This is the highest repo rate since the last 4 years! So Far in FY 23, the RBI has increased the repo rate by 225 basis points which is 2.25%.
This latest hike of repo rates will impact existing home loans rates and EMI. The home loan interest rates will now go up to 8.40 to 8.50% per annum.
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