4 Big Banks Hike Rates: How Much More EMI?
RBI raised the repo rate by 0.25%. PNB, Bank of India, Bank of Baroda, and Indian Bank have already passed this hike to borrowers. If you have a floating-rate loan, your EMI or tenure is going up soon.
A 0.25% hike on a ₹30L home loan costs you ~₹52,000 extra over the remaining tenure — that's 1,733 cups of chai.
Your home and car loan EMIs are about to rise this month
Key Takeaways
Log in to your bank's net banking or app and check your latest loan statement for any EMI or tenure change this month.
Call your bank and request an EMI increase instead of a tenure extension — paying more now saves significantly more in total interest.
Compare your current rate against other lenders' offers; if the gap is 0.5% or more, explore balance transfer to a lower-rate bank.
RBI raised the repo rate by 0.25%. PNB, Bank of India, Bank of Baroda, and Indian Bank have already passed this hike to borrowers. If you have a floating-rate loan, your EMI or tenure is going up soon.
Here's what happened: RBI raised the repo rate by 25 basis points, directly pushing up the cost of borrowing across the banking system.. PNB, Bank of India, Bank of Baroda, and Indian Bank have already revised their benchmark lending rates in response to the hike.. All floating-rate retail loans — home, car, personal — linked to these banks' benchmarks will see higher EMIs or longer repayment tenures..
What you should do: Log in to your bank's net banking or app and check your latest loan statement for any EMI or tenure change this month.. Call your bank and request an EMI increase instead of a tenure extension — paying more now saves significantly more in total interest.. Compare your current rate against other lenders' offers; if the gap is 0.5% or more, explore balance transfer to a lower-rate bank..
Choosing EMI increase over tenure extension on a ₹30L loan saves you ₹1.8–2.5 lakh in total interest over the loan life — banks default to extending tenure silently.
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- [1]“Higher EMIs ahead: PNB, Bank of India, Bank of Baroda and Indian Bank raise lending rates; check details” Wealth-Economic Times · 8 Oct 2026
This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.
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