Comments on: How to take a decision to switch home loan http://www.rupeetalk.com/blog/decision-switch-home-loan/ Personal Finance blog Mon, 06 Feb 2012 15:23:06 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Rahul http://www.rupeetalk.com/blog/decision-switch-home-loan/comment-page-1/#comment-748 Rahul Sat, 09 Jan 2010 12:29:52 +0000 http://www.rupeetalk.com/blog/?p=222#comment-748 Hi, i am still a bit confused. Would rather put my situation here and plz feel free to suggest me wht to do... m with HDFC right now and paying a loan on Rs. 2170000 with my original interest rate starting from 11.5% to the current 10%. Its been a year that I am paying EMI of Rs. 22769. My term has come down to 180 months since the fall in interest rates. Now if i plan to re-finance thru SBI who is offering me 8% in the first yr & 8.5% the following 2 years, i have to pay prepayment penalty of Rs. 46,600 to HDFC. So i will get refinance from SBI of 21,81,000 to close the HDFC loan. The processing fee, valuation charges & other charges of SBI are approx Rs. 10,000/- My query is should I switch or not ?? and if any expert can let me know what could be the ROI after 3 years of SBI(floating). Thank you.. Hi,
i am still a bit confused. Would rather put my situation here and plz feel free to suggest me wht to do…
m with HDFC right now and paying a loan on Rs. 2170000 with my original interest rate starting from 11.5% to the current 10%. Its been a year that I am paying EMI of Rs. 22769. My term has come down to 180 months since the fall in interest rates.
Now if i plan to re-finance thru SBI who is offering me 8% in the first yr & 8.5% the following 2 years, i have to pay prepayment penalty of Rs. 46,600 to HDFC. So i will get refinance from SBI of 21,81,000 to close the HDFC loan. The processing fee, valuation charges & other charges of SBI are approx Rs. 10,000/-

My query is should I switch or not ?? and if any expert can let me know what could be the ROI after 3 years of SBI(floating).
Thank you..

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