Yuvraj carries home loan of AxisBank. Yuvraj was paying interest at rate of 10.75% on his homeLoan. Yuvrajrecently saw that State Bank of India (SBI) is offering home loan at interest at rate of just 10.15% p.a. He decided to transfer home loan to State Bank of India (cheaper debt). But what advantage Yuvraj will get by switching to cheaper debt?
Cheaper loan means early settlement
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