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- Опубліковано 5 лют 2025
- In this video, I show you how to go about checking if you are eligible for a change of spread with respect to your existing HDFC Ltd home loan.
Remember to check this section on your online loan portal every month.
Home Loan Series: • Home Loan Series
#HomeLoan #EMI #Tenure #HDFC #hdfcbank #hdfcloan #homeloans #hdfcltd #prepayment
Also just to add on. Online portal showing conversion fee inr 6000 but if you mail them. We need to paid only 3000 inr
Same situation me also, online portal 6000rs and after email link only pay 2900
Can you exactly explain the process to avail only 3000 INR Conversion Fees? I am only able to see 5900 on the website. also if possible let me know which email ID to drop an email about the same.
@@deepakbhere64 Can you exactly explain the process to avail only 3000 INR Conversion Fees? I am only able to see 5900 on the website. also if possible let me know which email ID to drop an email about the same.
Yes
@@TusharRane2010hey bro have you done that process in my case its showing 5900 how can i Avial 3000 offer what is the process
Hi, i made use of this video and changed the interest rate. Thank u.
Welcome. Please do subscribe
Hi Lester, Thanks for sharing your knowledge and experience across HDFC home loan buyers. Your videos always helps out.
I would like to add one more point that If someone has got an conversion offer on the HDFC portal then instead of directly proceeding with portal offer, do visit the HDFC Loan branch near to your place and enquire about this.
1. I was getting offer for conversion at 8.55% from 8.90% on the portal but I did visit the branch today and based on Cibil report and other parameters, it got reduced to 8.35%. On Portal it was showing 5900 conversion fees but I paid only 2950/-
2. I enquired about the revision reset cycle as well and as per HDFC Ltd, this revision reset cycle gonna change from 3 months to 1 month and this has nothing to do with Conversion enquiry offer. It will be applicable for all i.e. existing customers and customer's applying for conversion. In nutshell, this change will be for everyone.
Yes, I'll make a new video on this soon
Even I has a similar experience. Got mine lower to the one offered. Got it done online only. Thanks for informing about the reset cycle being applicable for all. Will add that point
when the conversion happens, they change the interest rate method from RPLR to spread based.. Do you think, opting for spread based method is good or bad?
@@b228d0 Hi, in the conversion letter that I got, the term and EMI are the same as existing (for 9.3) but the interest rate is changed to 8.4. Can you confirm this was also the case for you? I mean if the interest reduces, term or EMI has to decrease right?
Thanks bro. I saw ur comment and visited the Bank. They offered me a lesser interest rate compared to what was showed online. Also I just paid 2950 as against 5900. Thanks once again.
Helpful.
I could reduce the interest rate.
Please login and check if you have the same.
@lester - when the conversion happens, they change the interest rate method from RPLR to spread based.. Do you think, opting for spread based method is good or bad?
I Did a conversion and after conversion same question from my end no one giving proper answer.
What is the procedure in SBI for conversion enquiry? Can it be done through online?
I belive it can. But never tried it as I don't have a loan with them. I'd suggest emailing their customer support and checking
Thank you for this video…I have applied for conversion rates to HDFC bank they offer me 8.35% interest rate & ₹2950/- for processing fee…
They offer me 8.65%. Is it negotiable? Or self online generated offer. Plz guide.
@@gserene-hi online offer…I didn’t negotiate with them…this is my first time…Bank see your CBIL score and other details then they offer you interest rate…please try to negotiate with the bank…
Charges 2950 it is mandatory to pay ?
Your 8.35% interest rate for how much time it will work ? Or it will become floating after some time ?
How many years?
Hello, Lester how can i get my foreclosure documents and list of documents for balance transfer, please guide.
Sorry mate, haven't tried this yet.
in the case if government reduces repo rate then also we need to pay conversion fees ? let say if government decreases to 25bps we might have lower ROI , is hdfc charging for this also?
They should not. But I'm yet to come across that day when this happens. Can only confirm post that
Hi Lester, I am new to home loan, I have a doubt that why we need to pay that 5900 if RBI is reducing repo rate OR is it bank who is offering such lower rate than current rate (no decrement by RBI in repo)? It's confusing can you explain? Infact in my t&c fees is quite high: Upto 0.50% of the Principal Outstanding and undisbursed amount (if any)at the time of Conversion or a cap of Rs.50000/-+applicable taxes/statutory Levies which ever is lower. For instance, if my outstanding principal is 90L then i will need to pay 45k+taxes for each conversion if rates gets lowered? Thanks in advance.
The figure shows 5900rs, but at time of payment it's half of it. Check my latest vid on this.
I'm yet to experience RBI lowering the Repo since ive taken my homeloan, once it happens and I know how they proceed, I'll make a vid on jt.
Hello Lester, I recently got this done via email. Thanks to your tips, I got the interest reduced from 9.3 to 8.4 (8.55 was the initial offer). I also paid half in fees.
I still am a bit confused though. In the initial offer, the EMI went down by 1500. But now with an ever lower rate, it shows the same EMI and Term as before!!! I have contacted HDFC but let me know if they change the EMI later on.
You should be able to see the change from 1st of next month
By mid 2024, rbi start cutting ROI, how does that affect past conversion, do we have do conversion everytime there is rate cut by rbi?
@@pramodvr24 I guess so.
What is the benefit for the bank by providing this conversion option? If I opt for this conversion, how long this new interest rate will be applicable for my loan.
Your 3 monthly rate is converted to a monthly rate change. New interest rate will be applicable per month, depending on changes in rplr rate.
@@TheCreditLife but whats the benefit if its applied for only 1 month ? Will they apply repo rate change on top of decreased interest rate ?
Why do they charge for this? It is theoretically reduced as my loan comes under floating interest rates. can I complain about this to some authorities??.
So far its only gone up. Will have to check once repo rate is reduced and if they do it automatically or still charge.
@@TheCreditLife pls make a video on this, once u get any info
Why is this conversion fee applicable? I paid 2900 in August to reduce from 9.1 to 8.1%. Now again the interest rate is back to 9.2% after multiple hikes. I have again an offer to make it 8.55% after paying. Why are they not giving lower interest rates automatically? How this not a fraud?
Same here with me. Don't think they will give lower interest rates under RBI themselves reduce the Repo Rate.
Also although the app showed 8.55% when I mailed them, they offered me 8.45%
@kumararya87 How did you manage to get 8.1% interest rate first time? Did you specifically ask to them or they themselves provided over email?
Can i forclose my loan after conversion?
Yes you can
How to reduce the tenure after paying the prepayment, is it the same process
ua-cam.com/video/Qtyao2N6NqM/v-deo.html
Hi Sir I am getting “This loan is not available for conversion through online. You may contact any of our offices for advise” do you have any idea on this sir, i have done it once.
It would be cause your already on the lowest available rate of interest
Sir if interest rate reduced duration time ?????
That would depend on your principle balance still left
Hi Lester, Is this option there for only HDFC or does SBI also have this kind of option?
Not sure. Never checked for SBI
But after converting will it be fixed or it will still be floating?
It will continue to be floating
Please help as I’m about to take loan.
1) If repo rate from RBI is changed from Govt, in that case will I need to pay any charges?
For an example: Current repo rate is 6.50 and government decides to decrease by 0.5. So From that time 6.0 will be current rate.
Will this rate be changed automatically to my interest rate directly without any charges? Or clause 13 will be applicable.
2) If 1st is true, and govt changes repo rate many times during tenure, for every time I need to pay clause 13 fees?
My understanding is that, this will be changed automatically. In floating rate, there will be no charges.
What is flip work in HDFC housing loan
Not sure mate. Not heard of it before
Can you please tell me if there is an option to fix my hdfc home loan interest? If yes, what will be the tenure of the fixed rate? can it be again changed in the future when rate goes down?
Fixed Rate is always higher than RPLR rate. Going from rplr ti fixed rate can be done. Youll need to pay 1.75% plus applicable taxes of the principal outstanding.
After conversion when intrest rate again increase?
After 3 month or more than 3 months?
You will need to check your reset cycle. When I did conversion , my reset cycle went from 3 months to 1 month.
@@TheCreditLife means after 1 month your intrest rate again increaseed?
@@rmchemistryworldofficial356 Yes
@@TheCreditLife thank you for sharing information 😁
Means in conversion also bank watched his profit not customer profits it is not useful for customer
True.
Sir i have a ques
In dec 2023 i have taken a hdfc home loan at 8.5%
Suppose rbi decreases repo , will hdfc charges me for reducing my interest from 8.5%
I've yet to experience RBI decreasing Repo rate. Not happened since I've taken my home loan. Will know once it actually happens. Will make a video then
Brother , conversion ke baad kab tak interest rate kam rhta h mtlb time period kitna h conversion krne k baad
Hey, reset cycle changes to 1 month. So depends if RBI changed the Repo Rate or not. If they do change, then it can change within a month also
Is it for all that interest rate reset cycle change to 1 month? I know people for them it's Quarterly only even after conversation.
Which is better reduce the EMI amount or reduce the number of EMIs. who should i go with
Reduce Tenure, always. Helps to save More interest
Hi @Lester,
1. Is conversion charges also applies if rbi reduce their repo rate?
2. If i got lowest possible interest rate from hdfc in that case will i get conversion offer from hdfc?
Hey, I've never seen it for reduction yet. For point 2, if already at lowest you won't get offer
Hi @Lester,
If RBI decreases , then conversation charges are applicable? Aa per point 1? Please reply
Hi Lester
I got my home loan converted from 9.15 to 8.45 today. They charged me a fee of 2950. But they said that this is not a one time fee and I will have to pay everytime i want to get conversion. The money charged will keep on decreasing everytime though. Is this the case? Please let mr know. Thanks
It's the same amount everytime. It does not decrease. I've done it 3 times. It's 2950rs
@@TheCreditLife ohhh, for me they mentioned that by 3rd time it will be 1000 plus gst ..lets see..i thought it was a one time fee though
I m able to see 5900 fees on HDFC website, how to get conversion fee of 2950?
@@TusharRane2010 when you go to make the payment, it show show you the reduced fee. Check the latest video on this channel, where I've mentioned that
Can you please tell how many prepayments can we make in a year in hdfc home loan??
It's one per month. So that makes it 12
Hi
I have taken loan from hdfc .... disbursement is done......
In the app it is showing 4167 rs amount is due to pay .........when i check it is of PMI Interest............What is PMI Interest ???
Hdfc follow a monthly reducing rate instead of a daily one. So if your disbursement was anytime mid month, that PMI comes into play. Basically it's the amount of days between 1st to the actual date of disbursement.
Dear Sir,
I have just taken the home loan from HDFC from february 2023 for 10 year tenure on 9%. I heve received conversion enquiry to reduce home loan upto 8.55%. Can I opt for the same and is it floating or fixed interest after conversion. Please advice.
You can opt. Conversion is for floating rate
Why bank always increases tenure and not EMI in case of rise? Also they alwayas reset my tenure upon new disubrsment.. any idea how to tackle it?
Banks will always look into more profit for themselves. Longer the tenure , more their profit. Also cause increasing emi without the customers acknowledgement could lead to lack of available funds in their account etc.
You can speak to your bank and ask them to increase your EMI and reduce the tenure. They will do it for you. Unless we ask, they won't do on their own
Hello Lester, Thanks for making such informative videos.
I am getting lower ROI with other bank than what HDFC is providing, Considering that RBI is constantly updating repo rate is it ok to transfer now or wait for rates to stabilize. Please suggest some steps for HDFC loan foreclosure/ Transfer to other banks.
Hey, foreclosure and balance transfers are too lengthy to advise on chat. Sorry about that. But I'll definitely make a video on it soon. But just to advice, if you are in the early stage of your loan, you can consider a transfer, if mid or late then not so much
@@TheCreditLife Sure, I understand. Thanks a lot! Keep up the good work
Hi Can anyone comment on this:
Is hdfc better or any bank with RLLR (Repo linked landing rate).
Does HDFC has internal benchmark -RPLR method? Or bank which are linked with direct repo rate are better?
Bhai hdfc mat le
Hello sir
My current ROI is 9.3,after conversion it is showing 8.45, can you tell me if RBI increases repo rate by 50 basis points, how my ROI will change.
2. How long will it be fixed in this ROI(I heard that it is for 1 month only)
If repo rate increases this month, then from next month, your ROI will increase. It's a monthly cycle
Bro, I have a query. HDFC has increased my EMI as well as Tenure when ROI was increased. Is this how it will be either if EMI or tenure has to be increased right.
Now that I have got offer for conversion arnd 3000 rs and with this tenure is reduced but EMI remains same.
Please suggest.
If they have increased both, it would mean that you've already maxed out on your tenure. For the conversion offer, if you want to reduce EMI, you can speak to them. However it's always better to keep lower tenure
Sir, my total term is 60 when i take a loan then i got conversn rate aftr getting that conversion rate they increase my term to 62 ...sir how this possibl will u xplain plzz
Happened with me too. It's because the rate of interest increased for you and was due to effect in the next month. The conversion did decrease your months, but due to the interest rate increase, it adjusted. Suppose you had not done the conversion your month increase would've been alot more than 2
@@TheCreditLife its means conversion rate is not good enough
Sbi will reduce interest when rbi reduces ..?and is sbi automatically Reduces interest without charges when rbi reduces?
Not sure about how SBI do it
Sir I got an offer like tiz 9.05 to 8.45% interest with rs 2950 payment for 1 month only.
I planned to prepayment of 2lak. So it's good to pay after conversion.
After 1month it's goback to 9.05%.so whether I get benefited with conversion fees or not.
Pls reply asap.
I'm awaiting ur reply sir
You can pay after conversion, even if interest increases post conversion, it will be from the new converted interest rate
I checked today.. conversion enquiry has disappeared.. is it the the same for u
Yeah, it seems to have been removed. Will need to check in April, once the new financial year begins
@@TheCreditLife thanks.. so visiting the branch and enquiring for reduction.. is that the only option.. if we don't get it back?
BTW FYI.. anyhow I mailed hdfc for conversion and they reduced from 8.9 to 8.5 charging 2950.. thanks for your help
@@alokgurnani7661 What did you do to get 50% reduction in conversion fees?
@@kjbck nothing they themselves charged 2950.. and looking at most comments that is what they have been charging
Hi Lester, this sounds very gimmicky to me. First they increase interest and then they charge fee to reduce it again? Moreover, how do i calculate the benefit of paying the fee. Example, if i get a chance to reduce % from 9.2 to 8.5 for 5000 Rs fee, how do I be assured that this 5000 are worth spending, and that the money paid won't go in vain when they will increase the interest again at the new monthly frequency of reset?
Increase in interest rate depends on RBI. If you belive that there is an increase on the way, don't opt for the conversion. About calculating the benefit, I have another vid for a prepayment calculator, can use the values there to check if it's worth or not
@@TheCreditLife Thanks for your reply and valuable videos. I read one of your comment that opting to decrease the interest benefits in long run, so I believe the fee would be worth it if I am in the initial few months of the loan? Also do they negotiate the fee and interest rate offer further?
@@VivekDesai01111993 yes they do. Although they show 5k, so far I was charged 3k. And rate is negotiable by around .5 or .10 depending on credit score
@@TheCreditLife Do they negotiate only when visiting office or over email also? Request you to also answer my first query on opting for conversion, would highly appreciate it.
@@VivekDesai01111993 I've always negotiated on email. About the conversion, like I said, If you belive that there is an increase on the way, don't opt for the conversion. You can wait for the rate hikes to end before opting for one. Its your choice completely. Hard to predict what RBI will do
Same avaliable in sbi home loan., ?if avalible how to convert 3:40
Could anyone please let me knoe how they got hdfc to reduce the conversion fee by 50%?
They offer it upfront.
By login ..
It shows you are not eligible for this conversion ...
What should I do..? Contact to branch ..?
because by rapidly increasing int rate my EMI increases to 5000rs More in existing EMI...
You'll need to wait a few months until the markets stabilize before checking again. Also that offer is only for a select few with good repayment history
I paid the partial prepayment through cheque but the amount is not deducted from my account after one day also...can u please say when it will be deducted
It can take upto 3 working days to be deducted.
@@TheCreditLife Thank you
Hi I have applied for conversion, and HDFC is giving me also,I have one doubt as in the email the have mentioned this - Note: With the effect of this conversion, the revision cycle would be revised from quarterly to monthly
What it means ? Is it good for me or not
Current ROI is 8.85 and after this 8.60
Currently you would be having a 3 monthly reset cycle. Meaning if RBI increase the Repo Rate, it would not affect your interest rate for upto 3 months. But with the conversion, you'll be moved to a monthly cycle. So if RBI increases the Repo Rate today, then next month itself your interest rate will change.
@@borntoexcel14 you need to do a conversion everytime RBI increases, if the offer is made available.
Sir aapki video bahut achi hai ..aap hindi language mai bhi video banao
Hi Brother, i have recently taken a home loan from HDFC and from past 2months i see there has been increase in the interest rate and same is reflecting in the financial transactions statement as well when I download it from the portal but i do not see any change in the EMI amount. Can you tell me why it is happening? How often this change of interest should be applied ? I
Hey, they don't increase EMI, they keep adding more months to your tenure. Login to HDFC portal and go to 'Interest Rate Movements" there you will see the change in rate and from when it will be applicable. Also check the months, I'm sure that's increased
@@TheCreditLife Can you please help where to see the months ? In Account Summery page its just reduced 3 months after paying for 11 EMIs, so I dont understand where exactly yo see remaining months.
Hello brother, one doubt...I have been offered conversion from 9.35 to 8.5% , it's been just 15minths to this loan...what should I choose ...reduce tenure or reduce emi?
Will the banks provide a comparison b/w the two options?
Thank you.
Always reduce Tenure. They won't provide comparison.
Reducing Tenure will save alot on interest compared to reducing emi
Thank you brother 😊
Hi Aman, Is you reset cycle changed from 3 months to 1 month After paying the money ??
@@kumargaurav8097 It does change from 3 months to 1 month post conversion.
Only one qus brother- mera current home loan rate 9.2% hai....conversion offer mai 8.7% show hora....maan lijiye mene opt kr dia aur feb se 8.7 ho gya....aur RBI march m RR kam krta h toh kya mujhe utna faayda m,milega? in short mujhe kisi ne kaha ki march m kam hua toh khud he 8.7 tak aajayega pr mera qus ye h agr phle he m conversion se 8.7 le aau toh kya march m usse kam hoga agar RBI RR kam krega??
Hi Rohan, Sach kahu toh Maine abhi tak interest Kam hote Hue nahi dekha Hai. Isiliye mujhe pata nahi Hai ki HDFC kudh se Kam karega ya conversion option ke through he jana padega. Agar RBI ne March mein accounce bhi Kiya, toh fir apka reset cycle ke Hisab se change hoga. If 1 month reset cycle Hai apka, toh April me. Nahi toh 3 month rest cycle toh directly July mein
brother, i too have the same situation as yours, please let me know if you opt for this conversion enquiry @rohan
I have query brother .....
My existing EMI increases and I want to increases my tenure ...
But they said tenure can not go beyond the tenure that was earlier sanctioned ..
Is that true....?
What's your current tenure?. As max is upto 30 years. But then again it depends on current age aswell
@@TheCreditLife current tenure is 28years and my age is 27..
But they said they can't increase tenure although I have 2years more to add in my existing tenure...
@@princekumarsinha8201 best to check with them for the reason. Although personally id suggest not to increase tenure as you end up paying lot more money to the bank
My recent tenure has been increased automatically as ROI imcreased.its going beyond 30 yr.
Is there any option as available in Sbi max gain for HDFC home loan
Sorry didn't get your question
@@TheCreditLife SBI provide one max gain parallel account which reduces interest amount over balance principal.
@@anillondhe5366 yeah, unlike hdfc that follows a monthly interest reducing cycle. SBI follows a daily interest reducing cycle. Also your Home Loan is linked to your saving account, so whenever you have extra, you can directly transfer to your loan account. Just that SBI process is long and time consuming with doc submission etc. If you have the time and patience and they offering a better ROI, can go for it
Many people are not aware of this, also Hdfc will not tell you
Hi Sir, My current interest is 8.85 They are saying they will reduce to 8.45 is it worth to pay 2950 rs ?? Also Reset cycle will change to 1 month ?? So all over is it worth ?
Lester Kindly check this query please
I'd have opted for it. 0.30 makes a huge difference in the long run. The reset cycle changing to 1 month will only affect if RBI increases the Repo Rate by June. Else no.
@@TheCreditLife Awesome
As Interest rate increasing, my EMI increased and Loan Tenure also increased. Why both are increasing?
Only one of them increases. But it could be that 1 is always on max level available for you. Best to check with Customer Support
thanks for providing such a very important information.
please suggest to me sir⤵
1. I talked to customer care they told me your interest rate will reduce from 9.20% to 8.5%.
2. and sir I want to convert my tenure into actual tenure originally it was 180 months now showing 239 months.
Is above both steps benefits to me????????
Yeah go for the conversion and ask them to reduce Tenure instead of EMI
I have done the process above and found that they have applied new rate and also changed the interest rate revision cycle from 3-months to 1-months without any confirmation. Raised a query for the same and asked for a reason.
Request you to guide on the same
Interest cycle does change from 3 months to 1 month. On my first conversion, this was mentioned to me on email. I'm currently soon to be on 3rd conversion, they won't keep the reset cycle the same, when going for any conversion.
Ye jo conversation fee hoti hai, ye one time hoti hai, ya har bar Deni padti hai.
Har bar
Ye chota mota amount chai pani dena padata hai bank ko😂
I have applied conversion in hdfc and paid also , it will impact next month. Now interest moved 9.16 if incase RBI planning to reduce rate of interest in future, my loan rate of interest will be reduce automatically right or fixed?
Same with me actually. Check your next reset cycle. RBI just announced a 0.35% hike. So on your next reset date, this would increase. If it does decrease in the future, HDFC wont do automatically unless its a huge decrease , you'll have to check and request manually
Hi brother one year back i took a hdfc home loan by 11 percent but now from new year they has been increased my rate of interest by 35 percent...mein ton soch raha tha rate of intrest kamm karvane ka request karke ja mail krke inho ne increase kr diya ...can you pls tell me what should i do
Hey, it would depend on your cibil score. If it's good, you can negotiate with them.
@@TheCreditLife cibil scroe means ?
@@rameshsingh9174 hey, its a score based on the summary of your credit history. Google search it and also its free to get a report.
Hi Lester, Need your suggestion.
suppose with this conversion rate offer my intrest rate changes from 8.95 to 8.55.
1)Future repo rate increase will applicable on new 8.55 rate ?
2) this conversion rate offer in hdfc is limited time offer ?
Because today RBI has increased rate by 0.25 so shall i use this offer in next month or it wont be available next month due to rate changes ?
Hey, its a yes to both your questions. Also check when is your reset cycle. Cause when taking the offer the reset cycle changes from 3 months to 1 month. So even though rbi increases repo rate today, in 3 month cycle it won't change immediately next month
can we reduce the tenure from 30 years to 15 years?
You can even reduce it to 1-2 years. It all depends on your repayment or prepayment capacity
Thanks 👍
Thank you Sir, for your guidance. I also got the offer to reduce the rate from 9.05 to 8.55% with a fee of ₹5,900/-. I wanted to reduce the tenure, so I paid a visit to the nearest branch, they agreed on same and to my surprise they said that new rate will be 8.45% and a fee of ₹2,950/-. They sent a link via sms for payment. Completed the payment and received a mail stating the details. Thank you again.
Glad to hear that :)
Bhai mene b krwaya h same hi sb aaj hi krwa k aya hu to mail nh aya abi tk but photo le k agya tha me uss form ki or payment mene cheque se ki h to wo ek do din me mail krenge kya after payment??
I have a question could you pls clear that... If we convert our interest rate by paying some kind of fees... What if in future rbi increases repo rate than... The changes in interest rate is increase from my current rate..?
@@thirudravid2701 Yes. After paying the fees my rate came down to 8.45% and after few days HDFC announced rate increase by 0.25%. So wef 1st April my rate will be 8.70%. And it's reflecting in app under interest rate movement.
@@Write2pranab na bhai aisa kuch naa h mene baat ki hui h kl hi mil k aya hu april tk kaa .25 lga k fir ye offer dia gya h hme abi .25 nh bdenge tnsn naa le
Hi brother
I have a query regarding home
According to you, Which bank should I choose for home loan hdfc vs icici vs axis ??
Plz help ...🙏🙏
Hey Manish, whichever one of these offer you the lowest interest go for that one. As interest matters the most. Customer service wise all 3 are pretty good otherwise.
@@TheCreditLife as hdfc is PLR linked , so how much time do they take to reduce their interest rate as RBI reduces theri repo rate??
@@Jyotindrachaudhari 3 months
I have a doubt. Can you please clarify .
Lets suppose today i got 8.25 interest rate for home loan and in next 1 year repo rate increases and thereby my loan tenure is also increased . Then say after 2 years repo rate becomes 4 % again so since the difference is huge will hdfc reduces the interest rate or the no of tenures automatically which got increased before?
When repo rate decreases hdfc will reduce the monthly EMI amount. They won't reduce the tenure. Banks want longer tenure to earn
Thanks
You will pay more to bank🤣 after conversion they will increase interest rate again 🤣 customers pockets are empty
Pls improve voice quality use mic
I converted my loan from 9.35 to 8.40👍
Great
Hi Bro, Can you help on below two questions,
1. For Top Up Loan - Conversion Enquiry applicable?, No option available as Conversion online,
2. How to increase my Monthly EMI - online & offline process?
Hey,
For both the questions the answer is to email hdfc customer support. If your cibil and repayment history is good, you can negotiate a 0.10-0.15 reduction in your interest.
For the 2nd question also, you can email them to increase EMI and they will get it done from the next month onwards
Please never convert, i did the same they're reducing tenure and IR but the ratio of Internet part is increasing very high.
It's trap and cheating by banks
Hello Sir,
Your videos really help us to saving our Hard earned money. Appricated👍👍
Now coming to the point 😊
Bank has offered me lower ROI after sending an email.. They have given me below options.
You have 2 options in conversion
1) If you keep the same TERM, the EMI will reduce to Rs. *****.
2) If you keep the same EMI, the TERMS will reduce to *** months.
1.Which one is better?
2.My CIBIL is 774. Will they waive the conversion fees? If i insisted?
2.Desperately Awaited your Balance tranfer Video😊
Hi,
Reducing term is always better. It will save you alot of interest amount, compared to reducing emi.
They will not waive of the conversion fee. However I've done the conversion twice. Although they advise 5900Rs, when the link to make payment was sent, both times i was charged only 2900
@@TheCreditLife Thanks lot sir...🙏🙏
@@TheCreditLife Hi Sir, Thank you so much for creating videos regarding hdfc home loan prepayments n interest conversion. I checked regarding conversion charges with bank person they was telling during the whole tenure only first two times we need to pay conversion after that no charges like that
. Any idea about it sir ?
@@TheCreditLife Could you please let me know if hdfc home loan has any other hidden charges. Also what would you advise for a person who is planning to take home loan based on your experience like terms to check, which one is better sbi or hdfc?
@@rsanthi20 I've done it twice. Both times I've had to pay 3k. Not got he option for the 3rd time yet, so cant really comment on that. Hopefully what you say is true.
Hi
Hey
@@TheCreditLife appreciate your work . Hats off such selfless video which helps common person to understand Loan specific with HDFC
Any video for switching Balance Transfer. I am fed up with HDFC
No facility like SBI max gain account.
@@anillondhe5366 hey I'll be making a balance transfer video soon but may take a few months. But if you're in a hurry, you need to speak to hdfc first and get an NOC and it has to specify your balance. Once you have that, you can go ahead and speak with the new bank and they will initiate the procedure once the processing fee is paid. I'll make a detailed video in Jan or Feb 2023
@@TheCreditLife Sir not in hurry
But upload with detailed Pro Cons of BY
Process
Fees
Best Option available
Benefits if any . Will wait for your video.🙏
@@anillondhe5366 sure will do
It’s scam don’t try to conversion rate
How?
Only ratta
Sbi will reduce interest when rbi reduces ..?and is sbi automatically Reduces interest without charges when rbi reduces?
Not sure about SBI