After RBI Repo Rate Hike, Loan Rates Go Up

Home loan borrowers will need to pay more on home loans as the RBI increased the repo rate by 25 basis points from 6 per cent to 6.25 per cent in its June 6 second bimonthly meeting of 2018/19. Anticipating this, many big lenders such as HDFC Bank, ICICI Bank and SBI had already increased their lending rates, while many more, such as PNB, Bank of India, Oriental Bank of Commerce, Syndicate Bank and Karur Vysya Bank, did so after the RBI action. The increases have largely been in the range of 5 to 10 basis points.