Loan Transfer from LICHFL to SBI

POSTED BY Navin Bhargava ON March 8, 2013 6:16 pm COMMENTS (2)

I want to transfer my home Loan from LICHFL to SBI, will LICHFL be charging any processing fee as they said they will not charge any processing for pre clouser of home loan at the time when i took the Loan and it is just 7 months. Actually when i took loan the ROI was 10.4 floating and suddenly this month they took 11.90 as ROI, asking them about it they said the ROI revise quaterly and hence it has increased. My loan term is for 20 yrs. Please advice


Looking forward to your kind suggestion

2 replies on this article “Loan Transfer from LICHFL to SBI”

  1. Credexpert says:

    Dear Mr. Bhargava,

    As it is a long term loan, we would suggest that you switch to SBI as this would also give you the advantage of a lower interest rate. Also do check with the LIC HFL as some lenders do not charge pre payment penalty provided a stipulated tenure of the loan is completed.


  2. Dear Navin, please switch over to SBI with out any fear. no prepayment penalty is there.



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