POSTED BY July 19, 2013 1:42 pm COMMENTS (4)ON
Thanks for the wonderful blog. It had cleared lot of doubts and questions.
I have also have one question regarding interest rate.
I have sbi max gain loan account. My current interest rate is 10.7%. My total loan amount is 24 lakhs. I visited my branch last saturday and asked them if they can lower my interest rate. They said that it can be done but i need to pay 0.56% of total outstanding to them as charges and after that my interest rate will be made 9.95% (i.e. 0.75% less than 10.7%).
Here is my account snapshot:-
Book Balance -21,62,220.00
Available Balance 1,69,053.00
Uncleared balance 0.00
Drawing Power 23,31,273.00
Rate of Interest (% p.a.) 10.7%
So as per SBI, i need to pay them 12108/- to make interest rate 9.95%.
My question is it worth doing it? Will it save money for me? Right now i pay total emi of around 24k and from that around 19k is interest (this is what i see on my netbanking under “DEBIT INTEREST).
Manish, please provide your suggesions.
Thanks and Regards,