aryanexpedition
TF Buzz
Hi guys. My Home Loan was with Citibank and was linked to the 3 months TBLR with a Spread of 1.76.
Now that Axis Bank has taken over Citibank, I've received their communication for conversion to Repo rate linked loan wherein they will keep the Spread to match the total RoI.
To illustrate, this is what they're asking me to consent to:
The current outstanding is around 1.39 Cr with balance tenure of 206 months.
Do you guys think this is a good idea - to convert from 3 months TBLR to Repo Rate linked HL as mandated by Axis Bank?
I'm just thinking since TBLR was reset every 3 months while Repo linked loans might be reset only once a year, it would be a worse move to move to Repo rate linked HL.
Alternatively, I can BT this loan elsewhere, so if you guys would like to suggest which lender to go to, it would be very helpful.
Especially if this HL transfer might also give more preferred/ wealth benefits in terms of NRV requirements and help me get better products like super premium credit cards etc. I currently have a LTF DCB plastic (alumni offer) and gunning for Infinia, so maybe moving to HDFC would be better?
I seek you invaluable suggestions and recommendations. Thanks in advance!
Now that Axis Bank has taken over Citibank, I've received their communication for conversion to Repo rate linked loan wherein they will keep the Spread to match the total RoI.
To illustrate, this is what they're asking me to consent to:
The current outstanding is around 1.39 Cr with balance tenure of 206 months.
Do you guys think this is a good idea - to convert from 3 months TBLR to Repo Rate linked HL as mandated by Axis Bank?
I'm just thinking since TBLR was reset every 3 months while Repo linked loans might be reset only once a year, it would be a worse move to move to Repo rate linked HL.
Alternatively, I can BT this loan elsewhere, so if you guys would like to suggest which lender to go to, it would be very helpful.
Especially if this HL transfer might also give more preferred/ wealth benefits in terms of NRV requirements and help me get better products like super premium credit cards etc. I currently have a LTF DCB plastic (alumni offer) and gunning for Infinia, so maybe moving to HDFC would be better?
I seek you invaluable suggestions and recommendations. Thanks in advance!
