What is your current home loan rate of interest?

[ChurningNoob]

Please specify the bank name as well, I am planning to do a balance transfer due to my current high rate.

SBI - 8.95%

 

[Deleted member 9785]

Again the question stands the same. How will I know what rate has been applied currently? Rate displayed in loan account may not be updated periodically and hence the question 🥹🥹.

The bank will send an update whenever they change rates via sms/mails etc

 

[R!ppEr]

The bank will send an update whenever they change rates via sms/mails etc

exactly, i always get a post from icici when they change the MCLR

 

[prc1990]

The bank will send an update whenever they change rates via sms/mails etc

Bhai psu bank me hain, they never communicate 😪😪.

 

[prc1990]

exactly, i always get a post from icici when they change the MCLR

You haven't moved to RRLR based rate?

 

[Deleted member 9785]

Bhai psu bank me hain, they never communicate 😪😪.

Another repo rate hike of 25 basis points

 

[R!ppEr]

You haven't moved to RRLR based rate?

moving mine to employee account of my wife soon so...

 

[prc1990]

moving mine to employee account of my wife soon so...

Which bank? Do they have lower rate for their employee?

 

[R!ppEr]

Which bank? Do they have lower rate for their employee?

all banks do that, upto a certain limit, post that you need to pay the normal interest

 

[iAmPm]

moving mine to employee account of my wife soon so...

What's this can you elaborate?

 

[R!ppEr]

What's this can you elaborate?

all bank employees get special interest rates(lower than market rates) till a certain limit

 

[PANK]

How to pre pay home loan of lic Housing
Will there be any extra charges for it

 

[jack333]

Which bank? Do they have lower rate for their employee?

BOI you can get home loan at 4-5% if you are an employee. Maybe all banks offer it to their employees

 

[sxchzy]

How to pre pay home loan of lic Housing
Will there be any extra charges for it

send a cheque to their registered office for pre closure
if interest if floating based then no extra charges

 

[sxchzy]

not at such deep discounts they offer it at 1-1.55 cheaper

 

[PANK]

send a cheque to their registered office for pre closure
if interest if floating based then no extra charges

I want to pre pay some amount of loan not full
My loan is at floating rate currently 9%
Is there any online way of payment

 

[krishc]

How to pre pay home loan of lic Housing
Will there be any extra charges for it

You've to visit nearest branch with a cheque of the amount you want to pre-pay
no extra charges
and no other mode of payment available

P.S. you need to show your ID and give loan account details as well

 

[PANK]

You've to visit nearest branch with a cheque of the amount you want to pre-pay
no extra charges
and no other mode of payment available

P.S. you need to show your ID and give loan account details as well

Ok thanks a lot for your help

 

[sxchzy]

I want to pre pay some amount of loan not full
My loan is at floating rate currently 9%
Is there any online way of payment

No not possible because if you do online it will be considered as EMI and major portion of EMI is interest so maybe it will considered it as 2 3 MOnths emi

 

[prc1990]

No not possible because if you do online it will be considered as EMI and major portion of EMI is interest so maybe it will considered it as 2 3 MOnths emi

Wrong bro.

If we pay any amount (online/offline) over and above our regular EMI, it will always lower the principal amount. Additional/adhoc payment is not considered as EMI. Never ever.

I pay it online and hence, can vouch for it.

 

[jack333]

Wrong bro.

If we pay any amount (online/offline) over and above our regular EMI, it will always lower the principal amount. Additional/adhoc payment is not considered as EMI. Never ever.

I pay it online and hence, can vouch for it.

You pay through cc bro?