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I had bought my house in 2003 and took loan of Rs.14 lacs from Citibank. As of today the outstanding is Rs.12.40 Lacs. Citibank had stopped lending for the past some time. Their interest rates are highest in the market and at present they are charging me 12.75%.

I understand SBI is giving loan at 8%. My questions are

1. Should I prepay the loan to Citibank and apply for the loan from SBI.
2. By doing so I have so pay Rs.50K approx as penalty to Citibank. Is it worth to take the loan from SBI.
3. current instalment is Rs.16K&if I take a loan from SBI & continue with inst?

Asked by Sundaresa Ramakrishnan, 19 Feb '09 02:11 pm
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Answers (1)


1. NO,Since sbi giving for only one year 8%

2.yes its worth to pay penalty and get close the loan

if your looking for BT pls call us we will get your work pls call us 9980007772

we r from idbi bank, as v dont have preclosure and prepayment charges
Answered by basvaraj joteppa, 19 Feb '09 07:56 pm

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If u have all the doc. then go to consumer court & tell their senior officers they will definately look after your case, you will also get compensati..more

Answered by Ajay Karmakar