Feb 15, 2009 02:42 PM
4948 Views
I have(unfortunately) taken a home loan from ICICI and am suffering due to high interest rates charged. The market rate has fallen 3-4 times but ICICI has not budged. They are cheating customers. All reduced interest rates are applicable only to new customers.
I have talked to one person from SBI. He says there is a special take over scheme where they are charging 8% fixed for 1 year and then according to market rate. Am I doing the right thing to consider moving out of ICICI? Will the interest in ICICI fall to below that of SBI and I end up regretting my decision?
I want to switch to SBI. Does anyone have any experience of home loan switch? Will it happen that the charges of both the banks are so high that if I prepay that amount to my existing bank the EMI will reduce? Please give your suggestions/good/bad experiences.
