What the 7 October rate rise means for your home loan

The RBI raised the repo rate by 0.25%, to 5.50%, on 7 October. For a floating-rate home loan, the change does not reach you that day. It reaches your loan on your lender's reset date, which your loan papers set.

When the rate rises, many lenders keep the EMI the same and add months to the loan. The two tools below show what has already happened to a loan, and what a rise could do to a loan you are considering.

If you already have a home loan

If you are about to buy

A bank's EMI chart assumes the rate never changes. Over a 20-year loan it will, more than once.

Tools by LoanRepo, an independent home-loan education product with no lender affiliation. Education, not financial advice.