Dear Sir,
I had taken Home loan from indiabulls housing finance for 14,71,757 at ROI 11.00% (for salaried). Now that its completed only 20 months of the tenure( out of 274 Months) I am gaining less benefits as rate of interest is not difference between banks and I have expenses more. My current outstanding balance 14 Lakh. Right now SBI have ROI 10.15%. I want to transfer my current loan to SBI, BOB or HDFC bank due to some unhealthy experiences with indiabulls housing finance.
I am also holding a savings account with SBI, BOB or HDFC.
Following is my questions.
· How easy is it to get my home loan transferred my current loan to SBI, BOB or HDFC?
· What are the issues that I will face during this transfer?
· Which account with SBI, BOB or HDFC will be the best option to have my home loan transferred and what are the pros and cons.
· I would like to know how much will be charges and whether it will have impact to my existing balance loan amount
· Should I transfer my loan to SBI, BOB or HDFC? I am hesitating because I need to pay extra 10000-15000 Rs.
· Is there de-mortgage charges applicable when loan is closed?
Is general home insurance is compulsory to take from SBI, BOB or HDFC. I already have home insurance from TATA AIA life insurance.
Please suggest me a good direction to have my EMI reduced.