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 3 years, 3 months ago.

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    Pravin Salvi

    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?



    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.

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