NEW DELHI: EMIs for home, car and personal loans are set to go up for existing borrowers, with State Bank of India (SBI) and other major lenders including Bank of Baroda (BoB), Axis Bank and Kotak Mahindra Bank increasing their benchmark lending rates by up to 0.10 per cent.
The lending rate hike by these banks -- which comes after a gap of around three years -- is likely to be followed by others, which will push up the equated monthly installments (EMIs) for different categories of loans to consumers.
