| I you would not have chosen this than the rate would have increased further. the rates are linked with SLR , when you take a loan the spread is decided at that time ... Let's say the SLR is 16% and the spread given at the time of loan @ (-) 6% whenever there is rate change the SLR will move and your rate will move accordingly. When you chose the rate sync with current market rate by paying 0.5% processing fee on principal outstanding your spread will be increased from 50 bps to 125 bps ( depends on what the scheme running , the range taken is for illustration) now your spread will change to (-)7.25% (considering highest bps) and every time you will get a benefit of it. HDFC reviews the rates every quarter that's why the rates are increases fast... I have recently transferred my loan to IDBI Trust I am able to address your concern Sent from Yahoo Mail for iPhone |
From: 'sanjeev3149@yahoo.co.in' via Xing-Future <Xing-Future@googlegroups.com>;
To: CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in <CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in>; Naveen Goel <ngoel2003@yahoo.com>;
Cc: Xing-Future@googlegroups.com <Xing-Future@googlegroups.com>; crossings-republik@yahoogroups.com <crossings-republik@yahoogroups.com>; cromaexecutivebody@googlegroups.com <cromaexecutivebody@googlegroups.com>; manmohan.jha@gmail.com <manmohan.jha@gmail.com>;
Subject: RE: [Xing] [CROMA] {AARWA-2299} Reduction of Rate of Home Loan from ur own financer or Balance Transfer to other finance company
Sent: Sat, Aug 9, 2014 3:57:53 AM
| I have taken home loan from HDFC and I got my homeloan reduced by paying approx. 11000/- which is charge equivalent to new home loan account. Regards/Sanjeev Kansal E-1103 Sent from my Nokia phone -----Original Message----- From: Naveen Goel Sent: 09/08/2014 08:41:03 To: CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in Cc: Xing-Future@googlegroups.com; sanjeev3149@yahoo.co.in; crossings-republik@yahoogroups.com; cromaexecutivebody@googlegroups.com; manmohan.jha@gmail.com Subject: Re: [Xing] Re: [CROMA] Re: {AARWA-2299} Reduction of Rate of Home Loan from ur own financer or Balance Transfer to other finance company Private banks are very clever I have a same exp with HDFC They only increase the loan interest They never reduce it Also anybody aware of that the fee they are charging to reduce rate of interest, is it legel ? Regards, Naveen +91-9810150844 Sent from my iPhone On 09-Aug-2014, at 8:32 AM, "'mail2gsyadav@yahoo.com' mail2gsyadav@yahoo.com [CrossingsRepublikOwnersAndMembersAssociation-CROMA]" <CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in> wrote: > > > I also used this facility in HDFC. But, I doubt if they maintain this reduced interest rate for long. > > I got it reduced to 10.15 after paying the fees last year. After 6 months, it again came back to 10.5. Now again, they r showing similar fees for interest rate reduction. It seems they are taking this route to get extra money. > > One doubt I always have is interest rates are increased as soon as RBI announce. But when it comes to reducing it, they don't get instructions. > > > Gouri Shankar Yadav > 9953041847 > > Sent from Samsung mobile > > > "sunil kushwaha sunil.kushwaha97@gmail.com [CrossingsRepublikOwnersAndMembersAssociation-CROMA]" wrote: > > Hi, As per my knowledge this is possible for banks. > They will charge you a fee to reduce it to base rate(around 10.15%) > The calculations for the fee is like .5% of total outstanding. > Suppose if your outstanding amount is 10 lakh so you have to pay around 5K as fee to convert current rate to base rate. > You need to just talk with your bank. > I have done this from axis bank around 11 month back. > > Thanks, > Sunil Kushwaha > Cosmos Golden Heights > > 'Naveen Goel' via Xing-Future <Xing-Future@googlegroups.com> wrote: > > >Can u pls share which bank lowered the interest ? > > > >I have a loan with hdfc & they are not doing this change > > > >Regards, > >Naveen > >+91-9810150844 > >Sent from my iPhone > > > >On 08-Aug-2014, at 9:32 PM, "Sunil Bhargava sunilbhargava1@gmail.com [CrossingsRepublikOwnersAndMembersAssociation-CROMA]" <CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in> wrote: > > > >> I got my home loan reset to 10.15% today from 10.75%. Saved Rs 4.1 lacs. > >> > >> Thanks to Manmohan Jha for suggesting this to me. > >> > >> > >> > >> > >> > >> Best Regards, > >> > >> Sunil Bhargava > >> Mobile: +91 9971477499 > >> > >> > >> On Fri, Aug 8, 2014 at 8:54 PM, 'sanjeev3149@yahoo.co.in' via Arihant > >> Ambience RWA <Arihant_Ambience@googlegroups.com> wrote: > >>> Mr. Jha is right, I also observed the same and get it converted from 10.75% to 10.25% after paying some fees. > >>> > >>> Regards/Sanjeev Kansal > >>> E-1103 > >>> > >>> Sent from my Nokia phone > >>> -----Original Message----- > >>> From: Manmohan Jha > >>> Sent: 08/08/2014 20:10:33 > >>> To: CROMA; CRIS; Xing-Future@googlegroups.com; cromaexecutivebody@googlegroups.com > >>> Subject: {AARWA-2298} Reduction of Rate of Home Loan from ur own financer or Balance Transfer to other finance company > >>> > >>> This year in Feb when I got Interest Certificate for submitting to our tax > >>> team, found that rate of my home loan has increased to 10.75%. > >>> > >>> After following up got it reduced to 10.25%. > >>> > >>> Everyone with floating rate need to keep track of their home loan rate and > >>> you can get it reduced to the extent to 10.15% either from your own > >>> bank/finance Co. as to avoid loosing a customer n it's future income by > >>> balance transfer, every bank/home finance Co. have provision of reduction > >>> of rate by paying a nominal fee. > >>> > >>> In case your bank/home finance Co. is not reducing you can get Balance > >>> transfer by other bank/finance Co. In case of balance transfer bank/ FI > >>> even don't charge PF. > >>> > >>> Circulating this again as a fellow resident got rate of his home loan at > >>> HDFC reduced from 10.75% to 10.15% after talking to me couple of week back. > >>> Tenure of his 15 year loan got reduced by 10 month. Saving of approx. 3.5 - > >>> 4 L. > >>> > >>> Regards > >>> > >>> Manmohan Jha > >>> > >>> ---------- Forwarded message ---------- > >>> From: "Manmohan Jha" <manmohan.jha@gmail.com> > >>>>> > >>>>> Dear All, > >>>>> > >>>>> Forwarding this mail communication going on CROMA yahoo group as found > >>> that many ppl are not aware the ppl with floating interest rate can get > >>> their interest rate lowered. > >>>>> > >>>>> All of you can check rate for present interest of Home Loan and if it's > >>> more than 10.25% you can get it reduced by paying a processing fee. In case > >>> of any difficulties with your existing lender you can get Balance transfer > >>> from other bank/NBFC. > >>>>> > >>>>> With this there will be substantial saving over the time. A Reduction of > >>> 50 paise will reduce tenure by approx one year. > >>>>> > >>>>> > >>>>> > >>>>> Regards > >>>>> > >>>>> Manmohan Jha > >>>>> > >>>>> > >>>>> Sent from Samsung Mobile > >>>>> > >>>>> > >>>>> -------- Original message -------- > >>>>> From: "Rajiv Anand anandrajiv123123@yahoo.co.in > >>> [CrossingsRepublikOwnersAndMembersAssociation-CROMA]" > >>>>> Date:26/07/2014 11:23 (GMT+05:30) > >>>>> To: CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in > >>>>> Subject: Re: [CROMA] IDBI Home Loan Balance Transfer > >>>>> > >>>>> > >>>>> > >>>>> Dear Mr Raju > >>>>> I transferred my loan to IDBI Bank @ 10.15%. If you want to transfer > >>> your loan then talk to Mr. Kapil Kumar. He is looking finance department. > >>> His number is 07838133030. > >>>>> > >>>>> Regards > >>>>> Rajiv Anand > >>>>> Supertech Livingston > >>>>> > >>>>> > >>>>> Sent from Samsung Mobile > >>>>> > >>>>> > >>>>> -------- Original message -------- > >>>>> From: "'bpsbhatia1@yahoo.com' bpsbhatia1@yahoo.com > >>> [CrossingsRepublikOwnersAndMembersAssociation-CROMA]" > >>>>> Date:26/07/2014 10:42 (GMT+05:30) > >>>>> To: CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in > >>>>> Subject: Re: [CROMA] IDBI Home Loan Balance Transfer > >>>>> > >>>>> > >>>>> > >>>>> Alikeshwar Tiwari has got his lian tfr to IDBI talk to him. In case any > >>> help required I will try to manage > >>>>> > >>>>> Sent from Yahoo Mail on Android > >>>>> > >>>>> > >>>>> ________________________________ > >>>>> From: RAJ KUMAR RAJU rajubanka@gmail.com > >>> [CrossingsRepublikOwnersAndMembersAssociation-CROMA] < > >>> CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in>; > >>>>> To: crossingsrepublikownersandmembersassociation-croma < > >>> CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in>; > >>>>> Subject: [CROMA] IDBI Home Loan Balance Transfer > >>>>> Sent: Fri, Jul 25, 2014 2:36:32 PM > >>>>> > >>>>> > >>>>> > >>>>> Hello, > >>>>> > >>>>> Have you transferred your existing Home Loan from any bank to IDBI Bank? > >>> or have you taken Home Loan from IDBI Bank for your Flat @ Crossings > >>> Rep > > > > -- You received this message because you are subscribed to the Google Groups "Xing-Future" group. 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