Disclaimer- This hack cannot be used more than 2 or 3 times in the lifetime of the loan... It has been observed that once you are an old customer, bank doesn't bother much about you... Bank tries to focus more on new customer acquisition and for that, they offer lower prices to them, resulting in you being left with higher interest loans... What should you do in such situation ? It's very simple, you just have to pretend that you are a not so loyal customer for the bank and they might loose you... When you say that there are banks offering you a better deal and lower interest rates and you are looking for transferring your balance to some other bank, they will definitely try to stop you doing so... When they have a risk of losing a good customer , they typically involve their seniors who can then match your home loan interest rate with the best rate available in the market... Even if they reduce only 1% interest rate , it would end up in saving lacs on your home loan interest ... For example on a 30 lac loan for 20 years, only a 1% reduction will save you 4 lac on interest... Isn't it great ? Without Paying any fees, or extra emi, Or increasing the emi, we are still able to manage or save so much interest on Home loan... #financetips #moneytips #personalfinance #homeloan #money #finance #interestingfacts #banking #shorts