Can I convert my SBI home loan to BOB home loan?

POSTED BY Gaurav Kanojiya ON June 27, 2013 1:08 pm COMMENTS (3)

Hi all,

I had taken home loan from SBI in 2007 at the rate of 9.25%. But now in 2013 interest rates are at a high of aroung 14%. I have heard that intrest rates in Bank of Baroda for home loan is 10.25% and no convertion charges. So i want some guidance on these points:

1. What will be the intrest rates after conversion in BOB, same as SBI i.e. 14% or only 10.25%?

2. Is it possible to convert from SBI to BOB?

3. Anything else that I must need to know before conversion?

3 replies on this article “Can I convert my SBI home loan to BOB home loan?”

  1. Dear Gaurav, no matter he was pensioner or salaried, the solution I provided above, still holds good for him.



  2. Dear Gaurav, first of all please do note that your loan in SBI is linked with PLR as on date. Please convert it to Base rate linked. After the base rate linking, please pay the conversion fee of 0.56% of your o/s laon amount & you ‘ll get 9.95% ROI (if original loan amount in 2007 was less than 30L Rs.) or 10.1% (if the original loan amount was more than 30L Rs.).

    I hope this ‘ll solve all your worries & problems.



    1. Gaurav Kanojiya says:

      Thank you Ashal for replying.

      One thing I want you to know which I forgot to mention that this loan was taken by my father when he got retired. Means he was pensioner at that time. Can this be the reason for such high rates? & the above solution given by you will work same for this condition also?

      Thanks in advance.

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