Need A Financial Product Forums Loans Is it beneficial to switch loan to SBI

This topic contains 1 reply, has 2 voices, and was last updated by  Pravin Salvi 2 years ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #48494

    Pravin Salvi
    Member

    I have a home loan for last 4 years. During this tenure, EMI has changed several times due to fluctuation in rate of interest. At present ROI is 11%. I want to shift loan to SBI for next 16 years at 10.10%. There are pre-closure charges by old bank and processing charges by new bank. Will it be beneficial to switch loan?

    #48495

    Kesarinath
    Member

    Calculate the difference in EMIs under both the options. Adjust the difference for pre-closure charges and processing charges. If you find beneficial then switch your loan.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.