Home loan people, what is conversion enquiry?

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?

36mo ago

SillyNugget

Amazon

36mo

How are they able to reduce .65% 🥵

FluffyNugget

Plivo

36mo

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

SillyNugget

Amazon

36mo

Which bank?

FuzzyBiscuit

Myntra

35mo

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