RBI Policy Announcement Today: October 7 Time, Repo Rate and What It Could Mean for Loans and Savings

The RBI’s October policy announcement is scheduled for 10 a.m. IST on Wednesday, October 7, 2026. Governor Sanjay Malhotra is due to present the Monetary Policy Committee’s decision after its October 5–7 meeting, followed by a press conference at noon. The policy statement and press conference can be watched on the Reserve Bank of India’s official YouTube channel.

For households, the central question is whether the RBI changes the repo rate, which stood at 5.25% ahead of today’s announcement. A change could eventually affect some loan payments and the rates banks offer savers. The decision had not been announced at the time of this guide, so a possible increase should not be mistaken for an outcome.

What time is the RBI policy announcement today?

The governor’s monetary policy statement is scheduled for 10 a.m. India Standard Time on October 7. His post-policy press conference is scheduled for 12 noon IST. Viewers looking for the governor’s speech can use the RBI’s official YouTube channel; the central bank’s policy statement is also the place to check the final decision and its accompanying explanation.

The six-member Monetary Policy Committee decides the policy repo rate. Alongside that number, listen for the RBI’s assessment of inflation and growth and any change to its policy stance. Those details help explain how the committee sees the months ahead, although they do not guarantee its next move.

What is the RBI repo rate today?

The repo rate was 5.25% before the October decision, following an unchanged-rate decision at the RBI’s August 2026 review. Some economists expect a 0.25-percentage-point increase, which would take it to 5.50%, while others expect the committee to wait. Those are forecasts, not the October result. Readers checking the rate after 10 a.m. should use the newly announced figure rather than the pre-decision rate in this guide.

How could an RBI rate change affect home loans?

If the RBI raises the repo rate, borrowers with floating-rate home loans linked to that rate may face a higher interest rate when their loan next resets. Depending on the loan terms and the lender’s communication, that could mean a higher equated monthly instalment (EMI), a longer repayment period, or a combination. A repo-rate cut could work in the opposite direction.

The effect is not necessarily immediate, and not every loan moves with the repo rate. Check your loan agreement or latest statement for its benchmark, any additional spread and the next reset date. An older floating-rate loan may use a different benchmark, while a fixed-rate loan generally follows its agreed terms rather than changing automatically with each RBI decision.

For example, a 0.25-percentage-point policy increase does not mean every borrower’s EMI rises by 0.25%. The change in rupees depends on the outstanding balance, remaining term, applicable loan rate and how the lender handles the reset. If your lender offers a choice between changing the EMI and extending the term, compare the total interest payable as well as the monthly payment.

What about savings accounts and fixed deposits?

An RBI rate change does not automatically reset every savings-account or fixed-deposit rate. Banks decide the rates they offer on those products, and any change may come later. If banks increase rates on new fixed deposits, a saver opening one afterward may benefit; an existing fixed-rate deposit generally continues at its contracted rate until maturity. If rates fall, the same distinction matters when a deposit comes up for renewal.

Once the RBI announces its decision, households can take two practical steps: check their lender’s notice and reset date if they have a floating-rate loan, and compare the rates and terms actually offered by banks before opening or renewing a deposit. The policy rate is an important signal, but the terms of the individual loan or savings product determine the effect on your money.