The policy rate hikes need not worry the retail customer as home and auto loan rates are not going to see any rise. Banks would be absorbing this policy rate hike without letting it hit the retail borrower.

The banks carrying out special home loan rates will continue to do so.

O P Bhatt, Chairman of the largest lender of the country, State Bank of India said that the teaser home loan scheme of the bank will continue till September 30.

"We will take a call at that time," Bhatt said.

"Home loan rates will not be impacted immediately. Everything will depend on what action banks take on the pricing of their retail loans. Our special schemes are on till the end of August after which we will take a call depending on the interest rate situation at that time," VS Rangan, executive director of HDFC, said.

Axis Bank is also not likely to bring any change in its loan rates. According to Shikha Sharma, chief executive officer and managing director of Axis Bank, deposit rates would surge faster than lending rates.

"Retail and corporate loans are expected to post robust growth in the coming quarters and lending rates will rise but not immediately," said Aditya Puri, managing director of HDFC Bank.