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QUESTION

Can the fixed rate of interest be converted into a floating rate of interest and vice versa?

fixed rate of interest, conversion, floating rate of interest
By 99FAQs   2 years ago  307 views
 
 
 
 
 
 
 
ANSWERS (2)
 
 
 
 
Anoop 2 years ago
no I dont think untill unless u transfer your loan to other bank.
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Mr. Jangi Sabharw... fixed rate of interest can be converted to floating rate with the same lender / bank , but, there is a processing fees of 0.50% of the outstanding principle amount or as per bank policy.. and vice-versa...
2 years ago
 
 
 
 
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Yes, but there is some conversion charge/fees of the principal outstanding or loan outstanding at the time of getting this conversion. However, it is at the sole discretion of the lender.
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