December 23, 2016
75
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4:35Now PlayingExpert: P V Subramanyam, Home Finance Expert.
Question: Can a loan be converted from fixed rate loan to variable rate loan and vice versa?
Answer: Assuming that 7.5% is you interest rate, if you feel that interest rates are going up and you want a fixed rate. Lender will charge you a premium to that. If 7% is your floating rate then he will give 8 or 8.5% fixed rate with the clause that in every 5 year he will visit this.
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