Hi Mr Basu,
I’ve a home loan of 13 lakhs from SBI which I took in 2014. Whose current floating INT is 9.4. But present SBI rate is 8.6. so pls tell is it wiser to pay the processing fee and change to 8.6 ℅. Is it going to benefit me? Or the processing fee will be more than the amount of INT difference in long run. My time period is for 10 yrs
How much is the outstanding principal? How much is the processing charges?
Sir I asked for 13.3 lakh but at present have taken 10.5 rest after the house is handed over. I have paid around 2 lakhs. So net outstanding is 8 + 2 lakhs . Processing fee is 0.5% + 1750. Duration is 10 yrs.
So is it beneficial for me to pay this amount and shift to 8.6
Or continue with 9.4 both floating. In long run which is beneficial.