tag:blogger.com,1999:blog-1072534379447599771.post9208169392415591416..comments2024-03-22T18:51:07.375+08:00Comments on Anand's Blog: Things To Do – Before Availing a Home LoanAnand Vijayakumarhttp://www.blogger.com/profile/04069290912727901147noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1072534379447599771.post-13351086696853315642014-11-24T20:00:07.993+08:002014-11-24T20:00:07.993+08:00To Add on - usually RBI does not introduce rate of...To Add on - usually RBI does not introduce rate of interest changes out of the blue especially by big % figures, but if they do, there is a small chance that the rate of interest may go below the fixed that your bank is offering you. But, the chances of that are pretty low. <br /><br />Anyways - the decision is yours. Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-16470754694219829202014-11-24T19:58:51.147+08:002014-11-24T19:58:51.147+08:00Answers:
1. Probably because they want to attract ...Answers:<br />1. Probably because they want to attract new customers or offer a good deal to its existing customers. This Q I cannot answer with 100% accuracy<br />2. As of now - there is not much news about it. RBI usually does not hike or reduce rate beyond 0.5% at any time. So, even if they increase/decrease the rate of interest, the impact on you will be marginal only<br />3. Sure. if you areAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-64606620697733311742014-11-24T10:36:27.417+08:002014-11-24T10:36:27.417+08:00Anand Thanks for the reply.
I am already a custome...Anand Thanks for the reply.<br />I am already a customer & I have paid 1yrs home loan. (floating 10.70%)<br />They asked me to pay around 6000rs as the processing fee to make floating into fixed rate of interest.<br />By this my tenure will reduce by 7 to 8months (I can save around 1,65,000).<br />After 6 month it will convert it into floating same as fixed rate of interest 10.25% as per Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-25217427414307263702014-11-19T20:06:02.913+08:002014-11-19T20:06:02.913+08:00What do you mean by fixed interest rate for 6 mont...What do you mean by fixed interest rate for 6 months only? If the option of reduced interest is resulting in a good saving (6 month reduced EMI minus the fee) then it could be an option. But, after 6 months what would be the rate of interest?<br /><br />A floating rate loan always follows the prime lending rate defined by RBI. Even for fixed interest options banks cannot charge too much. Usually Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-45856738571825219472014-11-19T13:57:57.427+08:002014-11-19T13:57:57.427+08:00Hi Anand...
I borrowed home loan from XXXX bank fo...Hi Anand...<br />I borrowed home loan from XXXX bank for 10.70% floating rate of interest, now they are offering me to go for 10.25% fixed rate of interest for 6 months by paying some processing fee, after that it will become floating rate.<br />Can you please suggest before I can accept this offer<br />As I understand RBI is going to reduce % interest rates in coming days, may be that’s the Anonymousnoreply@blogger.com