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Bargain with your current home loan lender first before deciding to shift to a new player

Sanjay Kumar Singh
Last Updated at November 20, 2019 23:57 IST

Robin Chaudhary, 41, lead business analyst specialising in e-governance and HR Management Systems at Humanitics Dimensions Software purchased a house in Sector 76, Noida, in 2010. The three-BHK apartment cost him Rs 37 lakh. Chaudhary took a floating rate loan of Rs 20 lakh from Axis Bank. At present, he pays an interest rate of 9 per cent. Chaudhary is not sure about the benchmark his loan is linked to but believes it is the benchmark prime lending rate (or BPLR, the benchmark that existed in 2010). He has never switched his loan.

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