Rate change calculator.
When your rate moves, see your new EMI, or how many months your loan grows or shrinks.
Why this matters
Most bank floating-rate home loans are linked to the RBI repo rate. When the repo rate changes, your rate changes at the next reset. Many lenders keep your EMI the same and change the tenure instead, so a hike can quietly add years to your loan.
How to use it
- Enter what is left on your loan, your rate and years left.
- Enter the change: +0.25 for a hike, -0.25 for a cut.
- Choose whether your lender keeps your EMI or keeps your tenure.
RBI rules for floating-rate loans require lenders to tell you about the change and let you choose between a higher EMI, a longer tenure, or prepaying.
Questions.
Will my EMI go up after a repo rate hike?
It depends on your lender's practice and your choice. Many lenders extend the tenure first. You can ask to raise the EMI instead, which usually costs less interest overall.
How soon does a repo change reach my loan?
Repo-linked loans reset on dates in your loan terms, at least once every three months. MCLR loans reset less often, usually once a year.
Can I ask for a lower rate when rates rise?
Yes. A rate rise is a good time to ask your bank to cut your spread, or to compare offers from other lenders.
Want a lower rate?
Ask 23 banks and housing finance companies for a lower rate on the loan you already have, at their branch nearest you. Free, from your own email.