Glossary

Repo Rate

The rate at which RBI lends to banks; most floating home loan rates follow it.

The repo rate is set by RBI's Monetary Policy Committee. Bank floating-rate retail loans sanctioned since October 2019 are mostly linked to it through an external benchmark, so a repo change reaches your loan rate at the next reset, at least once every three months.

Related guides

Repo rate hike: impact on your EMI →How home loan interest rates work →

More glossary terms

Deductible Co-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)

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