Photos: Have you taken a loan? So now know how much EMI and interest will increase, see the complete calculation

Your home loan, personal loan has become expensive after the RBI hikes the repo rate. Now the question arises that how much will your EMI increase, let’s understand it.

Aug 05, 2022 | 6:35 PM

TV9 Bharatvarsh | Edited By:


Aug 05, 2022 | 6:35 PM




The Reserve Bank of India i.e. RBI has announced to increase the repo rate by 50 basis points.  Along with this, the EMI of your loan is also going to increase.  Your home loan, personal loan has become expensive after the RBI hikes the repo rate.  Now the question arises that how much will your EMI increase, let's understand it.

The Reserve Bank of India i.e. RBI has announced to increase the repo rate by 50 basis points. Along with this, the EMI of your loan is also going to increase. Your home loan, personal loan has become expensive after the RBI hikes the repo rate. Now the question arises that how much will your EMI increase, let’s understand it.

Suppose you have taken a loan of Rs 10 lakh for a tenure of 20 years.  And its interest rate is 8 percent.  So, your monthly EMI at present is Rs 8,364.  But after the RBI increases the interest rates by half a percent, your EMI will increase to Rs 8,678.  That is, your monthly EMI will increase by Rs 314.  Apart from this, over a period of 20 years, you will have to pay a total interest of Rs 10.07 lakh.  At the same time, now after increasing the repo rate, you will have to pay an interest of Rs 10.82 lakh.  That is, the interest will increase by Rs 75,000.

Suppose you have taken a loan of Rs 10 lakh for a tenure of 20 years. And its interest rate is 8 percent. So, your monthly EMI at present is Rs 8,364. But after the RBI increases the interest rates by half a percent, your EMI will increase to Rs 8,678. That is, your monthly EMI will increase by Rs 314. Apart from this, over a period of 20 years, you will have to pay a total interest of Rs 10.07 lakh. At the same time, now after increasing the repo rate, you will have to pay an interest of Rs 10.82 lakh. That is, the interest will increase by Rs 75,000.

If you take a loan of Rs 20 lakh for 20 years at 8% interest per annum.  So, your EMI is currently Rs 16,729.  After increasing the repo rate of RBI, your EMI will be Rs 17,356.  That is, there has been an increase of Rs 627 in this.  At the same time, earlier the total interest was Rs 20.14 lakh.  Now it has increased to Rs 21.65 lakh.  There will be an increase of Rs 1,51,000 in this.

If you take a loan of Rs 20 lakh for 20 years at 8% interest per annum. So, your EMI is currently Rs 16,729. After increasing the repo rate of RBI, your EMI will be Rs 17,356. That is, there has been an increase of Rs 627 in this. At the same time, earlier the total interest was Rs 20.14 lakh. Now it has increased to Rs 21.65 lakh. There will be an increase of Rs 1,51,000 in this.

On the other hand, if you have taken a loan of Rs 50 lakh for a period of 20 years.  And it attracts interest at the rate of 8 per cent per annum.  So, right now your monthly EMI is Rs 41,822.  After the increase in the repo rate, it will reach Rs 43,391.  In this way, it will increase by Rs 1,569.  Apart from this, the interest is currently Rs 50.37 lakh.  This will later become Rs 54.13 lakh.  There will be an increase of Rs 3,76,000 in this.

On the other hand, if you have taken a loan of Rs 50 lakh for a period of 20 years. And it attracts interest at the rate of 8 per cent per annum. So, right now your monthly EMI is Rs 41,822. After the increase in the repo rate, it will reach Rs 43,391. In this way, it will increase by Rs 1,569. Apart from this, the interest is currently Rs 50.37 lakh. This will later become Rs 54.13 lakh. There will be an increase of Rs 3,76,000 in this.

If you have taken a loan of Rs.  And the tenure and interest are same as before.  So, right now your monthly EMI is Rs 83,864.  Later it increased to Rs 86,782.  That is, there will be an increase of Rs 2,918 in it.

If you have taken a loan of Rs. And the tenure and interest are same as before. So, right now your monthly EMI is Rs 83,864. Later it increased to Rs 86,782. That is, there will be an increase of Rs 2,918 in it.






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