Loan conversion

POSTED BY navin gupta ON October 23, 2012 7:17 am COMMENTS (2)

Have taken loan from hdfc for 2 crores. Current status bal outstanding 1.94 cr int 16.5 – 5.25 = 11.25. If I pay conversion fee .35 of outstanding rs. 79000 then 5.25 becomes 6. Question is whether it is worth it or try to shift the loan to some other bank.

2 replies on this article “Loan conversion”

  1. Dear Navin, is it a home loan or any other loan? What’s the remaining term of the loan? If it’s a home loan, you should switch it to SBI Max Gain.

    Thanks

    Ashal

  2. Dont you think it will depend on the interest rates offered , what kind of loan is it ? Is it at floating or fixed ?

    Manish

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