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 2 years, 12 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #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?

    #48115

    Neil Shah
    Member

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

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...

GET IN TOUCH WITH US

Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email : connect@simplypaisa.com

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.