Converting Housing Loan Floating Rate To Banks Base Rate? Sensible or No

POSTED BY Madhavi ON October 10, 2013 8:42 pm ONE COMMENT

Hello,

I have a Home Loan from Bank of Maharashtra which is Floating and I am suggested to converting it to Banks Base Rate by paying a 2% commission fees to the bank,the tenure is 20 years .

Is it sensible to pay 2% commission and convert it.Will the Base rate ever remain higher than the floating rate?

One reply on this article “Converting Housing Loan Floating Rate To Banks Base Rate? Sensible or No”

  1. ashalanshu says:
    October 11, 2013 at 10:19 am

    Dear Madhavi, what is the current size of your loan? What’s the remaining duration? What is the current EMI? What is the current ROI and what ‘ll be the new ROI? Please provide more details.

    Thanks

    Ashal

    Reply

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