After repo rates rise, how much your EMI will increase per lakh of loan
Similarly, for a car loan of Rs 8 lakh for a term of 7 years, if the interest rate increases from 10% to 10.9%, the corresponding increase in EMI will be Rs 375 from Rs 13,281 to Rs 13,656.
EMIs to rise further as HDFC, PNB and ICICI Bank hike lending rates
Home loan borrowers can think about prepayments; it is the right time
On a personal loan of Rs 5 lakh with a tenor of 5 years, if the interest rate rises from 14% to 14.9%, your EMI will increase by Rs 235 from Rs 11,634 to Rs 11,869, E.
“These two hikes in quick succession don’t sound like the end of rate hikes. Inflationary factors have yet to show any lasting signs of abating. “We may have seen the peak of inflation for now , but we may not have seen the end yet,” ET quoted Churchil Bhatt, Executive Vice President and Debt Investments, Kotak Mahindra