Central Bank of India links its Home Loan interest rate to the repo rate. Therefore, any change in the repo rate brings about a corresponding change in the Home Loan interest rate. If there is an upward movement in the repo rate, the Home Loan interest rate goes up. The rate of interest is a vital constituent of the EMI calculation. Hence, the EMI should go up, as well. However, the Central Bank of India prefers to maintain the EMI constant and extend the loan tenure. The same is the case vice versa when the rates go down.