The repo rate is the interest rate at which a central bank lends money to commercial banks, affecting liquidity and inflation.
A higher repo rate increases loan interest rates, leading to higher EMIs. A lower repo rate can help reduce your EMI payments.
If the repo rate rises, your loan interest rate increases, resulting in higher EMIs. A decrease in the repo rate leads to lower EMIs.
Personal loans with floating interest rates are directly impacted by repo rate changes, so keep an eye on the repo rate to manage your EMIs.
Tracking repo rate changes can help you make smart decisions on loan refinancing and managing your EMI burden.
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