Pros & cons of opting for a 'switch' on your home loans
Banks are preparing to introduce ‘switch’ facility for their existing home loan borrowers. India’s largest lender, SBI has already launched such a product. State owned lenders including Central Bank of India and Union Bank of India too are likely to offer on similar lines. Mortgage lender HDFC has an existing switch facility.
With the buzz of interest rate cuts getting louder, banks are preparing to introduce