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@oregonnowandthen Yeah, keep an eye on the current lowest RoI offered to new customers. It should be available on the bank’s website. If that’s lower than your rate and there has been no changes to repo rate, you’d need to request for the RoI revision.

@timcrinion ROI is usually two parts repo rate + spread/margin. So the RoI does reduce automatically but only if the repo rate goes down. The component which usually doesn’t automatically change is the spread or the bank’s margin. For new loans, this spread or margin would be lower and you’d...

@take Couldn’t agree more. I always hear from people that the bank takes all the interest in the initial days and very minimal amount gets added to the principal. Like you said this is basic math and one can arrive at this by simple calculations. The bank is not intentionally doing this 😅

@starfirefreefilly Nice! That's really good to hear!

@starfirefreefilly You can check the ROI rate card here 9.4% is for someone with credit score of 650-699. You mentioned you don’t have any credit history, but do you have some score? For Nil score you should have got a better rate. If your PAN shows a score then SBI can give only the rate...