Is it fruitful to transfer loan from LICHFL to SBI

[samkapoor77]

I have an existing loan of Rs. 15 lakhs from LIC housing finance with ROI @ 11.75%, preclosure and other charges 15,000. Even if I pay conversion fee, they won’t reduce my ROI. I wish to transfer my loan to SBI for 5 years. ROI with SBI is 10.15% and loan transferring fee is Rs. 16,000. What will you suggest ? is it fruitful to transfer my loan?

[samkapoor77]

Whatever you will be paying as preclosure charges and transferring fee will be easily set off by the differential in the rate of interest of these two organizations. Go ahead with your decision.

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