Hi Team,
I have taken around 25 lakhs of Home loan from LIC at 10.25 ROI for 2 yrs fixed. Now its completed, the ROI is showing in the LIC portal as 11.75% .
I had a visit to LIC office and they said I can reduce the ROI from 11.75% to 10.90% by paying 1% of outstanding loan. My outstanding loan as of today is around 9 lakhs.
I have enquired with ICICI and HDFC for switching over the loan to private banks, however I need to get so much of documentation plus some additional fee of around 8000 rs,
My question is , Is it worth continuing now with LIC HFL or can I switch over to other bank considering the outstanding loan of 9 lakhs. I am confused. Can someone please provide the advise.
Thank you
Regards
Raju