Home loan switchover from LICHFL to SBI or other bank

POSTED BY psk2181410 ON April 30, 2014 1:46 pm COMMENTS (3)

I am prashant having homeloan of 14Lacs with LICHFL disbursed in April 2011 repaying at 10.9% rate. Is it beneficial for me switch the same to SBI or other banks? How the switch over will takes place? Could u let me know please…

3 replies on this article “Home loan switchover from LICHFL to SBI or other bank”

  1. psk2181410 says:

    thanks for such a valuable information

  2. Raja says:

    LICHFC does not offer conversion to lower ROI. Better to exit and go to a bank of your choice

  3. ashalanshu says:

    Dear psk, please continue with LICHFC. if possible please ask for reduced ROI by paying a conversion fee. In case you want to change in any case, first of all, contact LIC to get loan closure value with penalty if any. Contact now the bank of your choice and ask for all the expenses you need to incur for loan switching. based upon these 2 things, decide that loan transfer is beneficial or not.

    Thanks

    Ashal

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