Is reduction in SBI loan rates applicable on old customers

[Sameer Kapoor]

I have taken home loan from SBI for Rs. 45 lakhs for 25 years. I want to know that if tomorrow (future) SBI reduced its spread or the interest rate declines, then will be applicable for only new customers. Can old customers also take an advantage of reduction in base rates and spread? I know the question has no relevance at this stage but I expect the reply to benefit in times to come.

[samkapoor77]

If such a scene happens then you can ask your branch for loan conversion. For that you will have to pay 0.56% conversion charges.

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