HDFC Bank has increased its base rate by 20 basis points to 10 per cent with effect from November 2 after the Reserve Bank of India (RBI) recently increased the repo rate, the interest rate at which the RBI lends money to commercial banks, by 25 basis points. With this, EMIs for home, car and even personal loans will go up. Base rate is the interest rate below which the bank will not lend.

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