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The Economic Times
The Economic Times
Sneha Kulkarni

Higher EMIs ahead: PNB, Bank of India, Bank of Baroda and Indian Bank raise lending rates; check details

Bank of Baroda Bank of India Indian Bank PNB RBI Punjab National Bank Reserve Bank of India Adhil Shetty Monetary Policy

The Reserve Bank of India (RBI) raised the repo rate by 25 basis points from 5.25% to 5.50% in its latest monetary policy committee meeting on Wednesday. Following the repo rate hike, several banks, including Punjab National Bank (PNB) and Bank of Baroda (BoB), have revised their repo rate-linked lending rates.

The change in repo rate-linked lending rates, RRLR, or in some cases RBLR, means that borrowers with loans linked to the repo rate may see an increase in their loan’s equated monthly instalments (EMIs).

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