1. It is no doubt that old customers with floating loan are at a loss due to the policy of bank lowering loan rates for fresh customers.
2. In view of above an old customer can consider switching loan if minimum two percent saving in rate of interest is available on moving to the new loan.
3. Switch as described above will save a sum of Rs 33120 during the tenure of the loan. Even if bank levy a charge of 2% it will only amount to Rs 2000/- per lakh.
4. If difference of the current and fresh considering loan interest is only varying by 50-100 basis points than do not switch loan.
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This blog is a personal blog written and edited by me. For questions about this blog, please contact me.
This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation.
This blog abides by word of mouth marketing standards. We believe in honesty of relationship, opinion and identity. The compensation received may influence the advertising content, topics or posts made in this blog. The owner(s) of this blog is compensated to provide opinion on products, services, websites and various other topics. Even though the owner(s) of this blog receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products. Every effort is made to make the sponsored post identifiable but at times due to advertisers restrictions the same may not be feasible all the time.The views and opinions expressed on this blog are purely the bloggers' own. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question.
The owner(s) of this blog would like to disclose the following existing relationships. I have a interest in real estate field which may influence the style of writing.
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