Is it wise to transfer a home loan from ICICI Bank to Axis Bank for 0.5% ROI difference? My current outstanding is 25 lakh and ROI is 8.9%. Axis Bank is offering 8.4% ROI with 0 processing fee.

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pls check processing fee, charges which can be in range of 0.5 to 0.75 percentage.after 1st year discount , bank can increase loan rate. If loan tenure is 5+ years, go for it.

MOD Charge range is 0.1% to 0.5%. Axis Bank is charging me 0.2%.

Definitely it is, even .1% matters a lot

New banks will sell new insurance to you and other mortgage expenses extra.
Try to bargain with icici, they will definitely give you a good deal

Update: I decided to go ahead with the transfer. Got a sanctioned letter of 8.4% ROI. Axis bank agreed with zero processing fee with no insurance. Disbursement is in progress...

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