Unsatisfied with HDFC limited, want to shift loan to SBI

[samkapoor77]

Within 3 months I want to transfer my home loan from HDFC Ltd. to SBI. At the time of taking loan, HDFC manager told me that I can pay online whereas as per the present situation every time I need to visit branch for paying EMIs. Apart from that there is restriction on prepaying. At the most I can prepay twice in a year. If I transfer my loan, I will be able to save 0.2%. What will you recommend me to do?

[samkapoor77]

One should think of transferring loan only when the difference in interest rate is more than 1%.

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