Dear Kethanites,
I somehow lost the thread of home loan related mail. Want to know how ICICI home loan takers manage the current interest rate. The current interest rate for me is 13% after reducing from 13.5% :-(. It is still very high when compared to other banks. Check the below link for the current interest rates.
The SBI bank and IDBI seems to be offering the lowest interest rates. I want to know whether any of Kethanites has managed to get loan from SBI? Thanks for inputs from Mr. Krishna who got loan from IDBI. I am planning to do a balance transfer to any of these banks. There will be loss of approximately 2.5% which is composed of 2% for ICICI closing/conversion rate and 0.5% for processing fees for my new bank. As per my calculation I should be able to tolerate this loss if I switch from 13% to 10.75% easily. And from next year onwards it should start paying me the benefits. If anybody else are planning then we should apply as a group and get benefits on processing fees and if possible in interest rates. Please write me if any of you are interested.
Thanks and Regards
Karthik
Hi Karthik,
ReplyDeleteI would be interested to change to SBI. Probably if we have enough member we can bargain SBI to give us for lower interest rate ( off course subject to certain limit)
Regards
Balaji
(107/A)