Home loan conversion HDFC

POSTED BY Gotu ON March 6, 2013 8:23 pm COMMENTS (4)

Today i logged in to HDFC portal for online conversion enquiry and found below info for my loan:

Principal outstanding: 11.59 L
Current ROI:10.5%
ROI from 1st April 2013: 10.4%
Balance EMI:199

If I opt to convert to a lower rate then,

Conversion fee:Rs. 3254/-
New ROI:10.15%
Balance term after conversion: 183 EMI

Pl. advise should I opt for conversion or not.
Thanks in advance.

4 replies on this article “Home loan conversion HDFC”

  1. P. MANJULA RANI says:

    I want to go for conversion
    My home loan is 145000lakh. I want to know low rate of interest. And no of reduction in my Emis

  2. Hari says:

    Principal outstanding: 14.41 L
    Current ROI:10.30%
    ROI from 1st April 2015: 10.30%
    Balance EMI: 66

    If I opt to convert to a lower rate then,

    Conversion fee:Rs. 4080/-
    New ROI:9.55%
    Balance term after conversion: 64 EMI

    Pl. advise should I opt for conversion or not.
    Thanks in advance.

  3. Gotu says:

    Thanks Ashal. I also think same. Just wanted to cnfirm.

  4. Dear Gotu, you should pay the conversion fee & convert to lower rate. The conversion fee is very small & there is a substantial saving of money in the form of reduced term from 199 to 183 month.

    Thanks

    Ashal

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