Dunno, that’s why I am interested to understand.

Software Engineer

Should be done. But this needs to be done every time the repo rate gets revised because HDFC reverts to default rate instead of reduced rate. Money making scheme but the EMI difference is covers the conversion cost in a month or two

Category Manager

Growth Manager

Have you applied for converting your loan to a lower interest rate?

Conversion fee 5,900₹ charge for converting from current 9.15% interest rate to 8.6%. “We offer you the option to reduce the rate of interest on your loan by opting for a revised spread in respect ...

Welcome to Personal Finance's Private Community

Conversion fee 5,900₹ charge for converting from current 9.15% interest rate to 8.6%. “We offer you the option to reduce the rate of interest on your loan by opting for a revised spread in respect to your loan.”
Should this be done or it’s not beneficial?

Home loan people, what is conversion enquiry?

Home loan people, what is conversion enquiry?- Grapevine

Need to understand which home loan charges can be bargained or are hidden and not shared yet to me. Buying almost ready property in Bangalore.

Curent charges shared with me:
1) SBI - interest - 8.4 %
Legal and valuation ~ 5.2k
Property Insurance ~ 15k one time mandatory as per bank 
MOD - 0.3%
2) HDFC
interest - 8.3 %
Processing - 2 k
Property Insurance ~ says later bank will call, it is optional
MOD - 0.2%

Home loan charges

Product Owner

Hey all! Quick question – who here has a housing loan and what are your interest rates? I got mine during COVID at a decent 7.4%, but now it's up to 10.52%. 😵 That's quite a hike, especially when I look at what other banks are offering. I'm thinking about switching. Anyone else gone through this or have any advice?


PS: I did ask my bank to cut me some slack, and they dropped it from 11.10% to 10.42% once. But now, it's crept back up to 10.52%. Would love to hear your thoughts or if you've dealt with something similar!

Housing Loan Rates Got Me Thinking 🤔

People with home loans comment your current interest rate

I recently came across one of the videos on YouTube that talked about Loans against mutual funds.- https://www.youtube.com/watch?v=lK7KuMzRm8U&t=3s 

Overall this product looks very convincing & it is so true that people sell their mutual funds when they require funds to make a downpayment on a House/Car.

The ROI is so low & this is an Overdraft, so no foreclosure fees for this loan & the best part? The process is super smooth of few platforms like Volt Money.

I am convinced that it's a good product & want to avail for some personal reason.

Want to check if anyone has used this & they are also positive about loans against mutual funds?

Has anyone availed Loans against mutual funds?

Why is there such a low penetration of credit cards in India ?? What problems do guys face in relation to credit cards and needs to change ??

Credit cards

I've got a package around 40 LPA with 4 yrs exp, with 1.8L as take home

Now, my parents are looking to buy a house at my home town (tier 2 city). It costs around 65L, so have to a loan of around 50L which will be around 65k EMI every month for the next 10 years

Also I'm passionate about working on side projects doing some part time gigs, share around 40k to my family for their needs. This house loan will have a burden on me for sure, do you think it's the right decision to take home now or maybe postpone it to later?

Is House Loan better early in your career?

Senior Data Engineer

Hi all,

This is in response to a survey I found on the app, where people voted mostly on reducing Tenure by prepaying their home loans.

As someone who works in lending myself, and in the light of the funding winter extending a few more Quarters, I would urge people to shore up their finances and keep control of your liquidity.

Be very careful when prepaying Home loans:
1. Loan is a service for which interest is a cost. The deciding numbers to prepay are the differential interest outgo (Loan rate-Debt fund rate) / 12 as a proportion of your monthly expense. It comes to around my monthly 1700 Rs for 10L of outstanding. 
2. DO NOT look at the total interest outgo. That is a misleading figure. Prepaying loan to save total interest over 10y is like selling your car 10y earlier to save parking costs or selling your TV to save Netflix charges. 
3. Prepaying is irreversible. If you run into cash crunch later, most probably, your financial standing and ability to get loans would decrease. Better to not prepay and enjoy the flexibility. 

Posting the parent link below.

When part prepaying home loan… - Grapevine.in

Do Not Prepay Home Loans!

Investment Manager

Folks who bought real estate in Bangalore (primarily for living in it), what are some things that you wish you knew earlier before buying the property?
Also what are some things you would advise to new folks who are looking to buy property now?

I’ve been looking to buy a flat and have mostly finalised on A+ builder(Prestige) society but wanted to hear from experienced folks once. 
And I’m not a huge fan of taking hefty loans so planning to do around 50% in down payment and 50% in loan which I will aim to finish within 5 years. Is this a good approach??

Home loan people, what is conversion enquiry?

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