How to reduce my existing business loan interest rate?

[Ayan37]

I currently have 2 business loans in the value of 6.5 lakhs and the interest is much higher around 20%. So I want to reduce my loan interest so if you tell me how to reduce it will be beneficial.

 

[Rkagrawal]

Diposite 50k to 1lac in principal amount and ask bank for reduce tenure. Or you can do transfer loan in other bank like axis Bank they will charge intrest 8to 12 %max.

 

[Ayan37]

Diposite 50k to 1lac in principal amount and ask bank for reduce tenure. Or you can do transfer loan in other bank like axis Bank they will charge intrest 8to 12 %max.

Business Loan at Axis Bank at 8 - 12%?

 

[Kalyan]

I currently have 2 business loans in the value of 6.5 lakhs and the interest is much higher around 20%. So I want to reduce my loan interest so if you tell me how to reduce it will be beneficial.

You can transfer your loans to other banks in order to reduce your rate of interest, alternately go for a mortgage loan and close your higher interest loans which will reduce your interest and outgoing drastically.

 

[Ayan37]

You can transfer your loans to other banks in order to reduce your rate of interest, alternately go for a mortgage loan and close your higher interest loans which will reduce your interest and outgoing drastically.

yea to ham ko bhi pata hay lakin mortgage dene keliye kuchbhi nahi hay to keya kare?

 

[Ayan37]

Diposite 50k to 1lac in principal amount and ask bank for reduce tenure. Or you can do transfer loan in other bank like axis Bank they will charge intrest 8to 12 %max.

Mene pucha tha onhone mana kar diya? bole ki nahi hoga.

 

[Kalyan]

yea to ham ko bhi pata hay lakin mortgage dene keliye kuchbhi nahi hay to keya kare?

Business loan bhi kam rate pe transfer ho sakta hai, subject to your business profile and income

 

[BHAVESHKESWANI]

I currently have 2 business loans in the value of 6.5 lakhs and the interest is much higher around 20%. So I want to reduce my loan interest so if you tell me how to reduce it will be beneficial.

if you have LIC policy, Mutual funds investments, then you can avail loan against them .. It may ranges from 12-15%