Q. Sir, I have a home laon of about 8 lakh for 7 years @ 11% and I am paying some 14500 as EMI. Now if SBI gives me a Loan of that amount @8%.Should I go for shifting the Bank? Will I be gaining in the process after all the penalties...and also what should I consult for with both the banks to come to know the financial gains/losses incurred in the process..
:  A. First let me clarify this. SBI will reduce interest rates for existing borrower by PLR reduction. There is a facility where you can borrow 10% of...... more

Q. Sir, three years back i took home loan from SBI of rs.3 lacs at 7.75 % interest in under fixed loan. Till today interest rate is 7.75 %. When this rate will change or will it remain till the end
SAUROV THAKUR:  A. NO, every bank have at its discretion to change PLR, or otherwise every 5 years it changes (have not you gone through your papers at the time of...... more

Q. Sir, I have availed Housing loan from SBI, The loan availed on end of the year 2004, in fixed interest rate 8% for Rs.6.5 lakhs for 180 months fixed tennure. Recently the bank was declared fixed interest rate was resetted every two years for new loan proposals. Please clarify what is the position of existing loan buyers.
Jaiteerth Khasnivas:  A. So far announcements of rise have come only for floating loans. Fixed rate loans are untouched. Rates for them are likely to be raised if PLR is...... more

Q. what is the sbi benchmark PLR rate for 2007-2008
Boopathi:  A. Visit google.com more

Q. Today i approached Oriental Bank of Commerce to give me a home loan switchover from ICICI Bank. I was shocked to see an internal circular of OBC bank wherein they have asked the Branch Managers not to entertain switchover loans specially home loans from ICICI Bank. Don't you think this is restrictive trade practice adopted by OBC? Sum and substance, i am now wedded to the "Pathaan" i.e. ICICI Bank from whom i took this loan and shall have to pay for any and every sensible/non-sensible increase in EMI or tenor period resorted to by them under the garb of market forces and changes in PLR/PTLR
Anita George:  A. Don't depend on only one bank. You may approach to LIC Hsg Finance Ltd., Dewan Hsg Finance Ltd or State Bank Of India. All of them have very...... more