Need A Financial Product Forums Loans Will spread on SBI maxgain home loan remain same

This topic contains 1 reply, has 2 voices, and was last updated by  Thogiti Ramesh 1 year, 12 months ago.

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  • #48114

    I took loan from SBI under SBI maxgain option. At present I am paying 1% additional over and above base rate. My effective rate of interest is 11%. I have received a letter from bank stating that if I pay 0.56% conversion charges then bank will convert my loan to lower charges whereby the spread will be 0.30% and my effective rate of interest will come down to 10.30%. I know the base rate can be changed anytime. Will this spread remain same during the tenure of loan?


    Neil Shah

    Yes, without your consent bank will not bring any change in spread.

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