Sage-Tips

How do you convert floating rate to fixed rate?

There are two ways to do this. You can either reset your rate with your existing bank (Bank ABC) or go to a new banker (Bank DBE) who is offering you a cheaper rate of interest. However, this decision has to be based after you have analyzed the costs against the benefits.

Is Lichfl reducing interest rates?

LIC Housing Finance Ltd (LICHFL) has cut its home loan interest rate from 6.90 per cent to 6.66 per cent under a special limited period offer. This interest rate is applicable for home loans up to ₹50 lakh for salaried individuals. This is probably the lowest home loan interest currently being offered by any lender.

Can I ask my bank to lower my loan interest rate?

If you are having trouble keeping up with your monthly mortgage payments, you can apply for a loan modification to reduce your interest rate and hence, lower your monthly payments. A lender will review your current mortgage and financial circumstances before deciding to approve or deny you for a modification.

Can you devalue a floating exchange rate?

Devaluation occurs when a government wishes to increase its balance of trade (exports minus imports) by decreasing the relative value of its currency. Depreciation occurs when a free-floating currency loses value in the international currency market. Deflation occurs when the general price for domestic goods falls.

How long can you float interest rate?

30 to 60 days
That’s not always a bad strategy — when interest rates are falling in general, you would want to take advantage of this favorable movement in the market. (The float is typically 30 to 60 days, but it might be longer if you’re willing to pay more in fees to get it.)

Can you renegotiate your interest rate?

If you’re not happy with the interest rate on your loan or credit card, you can always renegotiate it. But doing so involves changing the terms of your credit agreement. No matter what your reason for renegotiating the rate on your debt, you are more likely to succeed if you plan your strategy wisely.

How can I get less interest on my loan?

4 Ways to get the best personal loan interest rate

1. Highlights.
2. Maintain a good credit score of 750 and above.
3. Compare lenders to find the best interest rate.
4. Keep an eye open for promotional offers and deals.
5. Leverage your employment status to get better terms.

What are the disadvantages of floating exchange rate?

Floating exchange rates have the following disadvantages:

• Uncertainty: The very fact that currencies change in value from day to day introduces a large element of uncertainty into trade.
• Lack of Investment:
• Speculation:
• Lack of Discipline:

What are the problems with a freely floating exchange rate?

Floating exchange rates are prone to fluctuations and are highly volatile by nature. A currency value against another currency may deteriorate only in one trading day. Furthermore, the short-term volatility in a floating exchange rate cannot be explained through macroeconomic fundamentals.

Can I shift from fixed to floting interest rates with LIC HFL?

Yes you can shift from fixed to floting interest rates for your housing loan with LIChfl. You need to contact your loan provider. Is LIC HFL home construction loan good and customer friendly?

Should I go with LIC HFL for a home loan?

Do never go with LIC HFL for housing loan they are the big cheater by initially offering interest rate in par with bank interest rate. after 2 years they will increase interest rate upto 14\% without informing to customer. by this customer loan term will get doubled. Its big a trap to cheat innocent customer by LIC HFL.

How to reduce interest rate on home loan?

Here are four ways a home loan borrower can reduce interest payment on his/her home loan. 1. Switch home loan to MCLR (marginal cost of funds-based lending rate) regime To reduce the interest rate on your home loan, you can opt for MCLR regime.

Can I change from fixed interest to floating interest in LIC?

You have to see agreement signed .If the mininmum period as fixed interest is over you can change .Or give a reqest lichfl .Interest rates will be coming down further . Yes you can shift from fixed to floting interest rates for your housing loan with LIChfl. You need to contact your loan provider.