Hi,
I have a Rs. 30 Lac home loan from LICHF since November 2011. Recently i checked rates of LICHF and other NBFC and banks and they are offering loans at much lower rates of 10.1 to 10.35% where as LICHF is currently charging me @10.9% for my floating loan. I have NOT taken any offers of fixed rates for 2 or 3 years etc.
I read about RBI and NHB abolishing pre-payment charges even by balance transfer but my agent siad that the 2% penalty will be applicable in LICHFs case. Can you please confirm if he is right and LICHF have been give rights to charge the 2% penalty even for the full floating rate loan?
I plan to shift my loan to SBI or HDFC which seem to be better to take loan from. Please advise.
Thanks in advance.