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FAQ
If RBI raises the repo rate, does my loan EMI go up?
For loans linked to an external benchmark or a bank's repo-linked lending rate, a repo rate hike typically feeds through to a higher lending rate over time, which can increase EMIs or loan tenure depending on the loan structure.
FAQ
Does SARFAESI apply to all loans?
It applies to secured loans above a specified threshold extended by banks and notified financial institutions; it generally does not apply to unsecured loans or, with some exceptions, to agricultural land used as security.
FAQ
Is KCC only for crop loans?
No. While crop cultivation is the primary use, KCC limits can also cover post-harvest expenses, working capital for allied activities like animal husbandry and fisheries, and in some cases investment credit, depending on the bank's scheme structure.
FAQ
Does using a debit card build my credit score?
Not directly — debit card usage generally isn't reported to credit bureaus since there's no borrowing involved. Credit score building typically comes from credit products like credit cards and loans, repaid on time.