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Can I convert my loan from fixed rate loan to variable rate loan & vice versa?

April 26, 2017convert fixed loan rate versa

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Can I convert my loan from fixed rate loan to variable rate loan & vice versa?

2 Answers

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Conversion form a variable rate product to a fixed rate product and vice versa depends upon the policy of the company at that point of time.

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Ans.: Yes, you can convert variable rate product into fixed rate product with applicable charges. However, to convert rate product to a variable rate product, most banks will charge a small fee. The swap can be done any number at any point of time.