Dears, I have taken home loan from nationalized bank 4 years ago. My current interest rate is 9.7%
Total Outstanding Principal Amount - 22,00,000
Current EMI - 36,000
Loan Tenure - 20 yrs
Currently bank is offering 8.65% interest rate. But to opt for lower interest rate I have to pay the conversion of charges of 12,000.
Need your suggestion if i have to go head by paying the charges or continue with existing interest rate of 9.7%.
I am looking of for utilities that shows the benefits and your suggestions of pro's and con's of it.