Ask Amitoj- The Loan Guru

Date: 2008-09-01 10:09:18

Query : I have a home loan with ICICI taken in Year 2004. Loan amount is Rs.20 lacs. Fixed rate of interest @ 7.5 %p.a. I have taken this loan for buying a flat in an apartment. This flat has appreciated in value many fold. I would like to buy a row house by disposing the flat. However, I am worried about rate of interest as I had opted for fixed rate of interest of 7.5%. Is there any option wherein I can protect the rate of interest I am presently enjoying with the bank? If so, pl. advise.
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Date: 2008-09-01 12:35:42

Message:

Am afraid not, the new loan which you take will be at the existing rates.

Please revert with any clarifications on the above answer.

Regards,

Amitoj Sethi

www.deal4loans.com
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City : Gurgaon
Employment Status : Salaried
Annual Income : 1700000
Type of Loan Running : Yes
Loan Running : hl,
EMI Amount : 16112
Tenure : 240
ROI Loan : Yes
EMI Paid : more than 12 months
Credit Card Holder : Yes
Amount Due : 40000
Loan Running on Credit Card : No
Residential Status : Rented
Vehicle Owned : 4 Wheeler