The rate at which the RBI lends to banks, which moves the rates on most floating-rate loans.
The RBI's Monetary Policy Committee reviews the repo rate about every two months. Most new home loans are linked to it, so when it changes, your loan rate follows at the next reset.
A cut usually lowers your EMI or tenure; a rise does the opposite. Deposit rates tend to follow too.
Short reads that explain how it works before you decide.
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