I am holding a Home loan from Federal Bank. I have not interacted much with the customer service executives. My friend suggested me to take a loan from Federal Bank. Its been 8 years since i have taken loan. The response provided by them was very quick. Everything was perfect and the documentation was completed on an average time.
06:54 PM - Feb 26, 2015
Got discount on processing charge from HDFC Limited because I availed home loan under corporate offer. Rate of interest is similar to current market value and it is best rate. In regards to service I have no hassles and process was quick. I can pay EMI through online so this system is satisfactory.
06:34 PM - Feb 25, 2015
HDFC limited is far better than any other sectors and response is very quick from the officers. I was expecting home loan in 2 days so I informed to officer so as per my expectation they approved and sanctioned in couple of days. Also I have taken top up loan recently. No dislikes with HDFC Limited as everything is positive. HDFC is competitive in interest rate and similar to other sectors. Manager of HDFC limited was very cooperative and helpful.
02:54 PM - Feb 25, 2015
I have a home loan from State Bank of India. In terms of customer service I am not really satisfied as I donâ??t think there is a separate customer service department. Normally I send emails for my queries. I donâ??t get a proper response and after which I have to send 4 to 5 emails. I opted for SBI as it a pure Indian Bank and I get a secured feel. There is regular updation on the interest rates as other private bank fails to do. Documentation part is hectic as I had to visit the banks for nearly 5 times to submit the documents and the loan to get sanctioned.
05:02 PM - Feb 26, 2015
Satisfied with HDFC Limited as documentation process was smooth and the person who assisted for home loan was very responsive. Totally I saved my time as the process was simple and disbursement was very fast. From my end, I did not face grievances. 10.15% is the communicated interest rate and as per the commitment they executed. Charges were deducted as per their norms.
05:47 PM - Feb 25, 2015
From my personnel experience corporation bank is good for Home Loan as they provide all assistance and support for applying the home loan. The bank itself is doing the verification process, hence 99% chance to get approve if the documents is okay. They will take the legal\verification charges only after final approval of the loans.
02:18 PM - Feb 25, 2015
I applied home loan with Axis bank and received call from them but at that time I informed the executives to call in month of January but they did not approach thus I planned to take home loan with some other bank. In beginning approach was good from Axis bank and they gave good service but not discussed about interest rate. Now I cannot recall the fee and charges but it should be nominal. Axis bank is doing good but great if they remain the customer on correct time.
02:24 PM - Feb 26, 2015
Good experience and officers were prompt in responding queries. They followed on regular basis and gave timely status of application. I never faced issues with HDFC Limited during time of home loan process. I had compared interest rate and charges with other banks but I found HDFC Limited to be best thus I preferred them. Also processing charge is reasonable.
05:10 PM - Feb 25, 2015
Please do not apply from SBI. Their service is very very poor. The will take the documentation charges and legal charges before approval, but other bank doesn't do. And its is difficult to get approval. Lots of documents required to submit(even it is not required). Again depends on legal officer as they are giving to third party for verification, hence there are chances if we give bribe to them, they can approve. Please do not promote these. Ofcourse SBI's interest rate is low, but we will lose that amount in other way. When i approached other nationalized bank. They given very good service and approved in 10-15 days.
02:08 PM - Feb 25, 2015
Reasonable interest rate offered by HDFC Limited where it is 10.15% and the same is offering by others as well. Processing charge deducted for home loan is 10,000 where it is similar across the banks. Overall experience was good with HDFC Limited where quick response from the executive but great if they improve customer service particularly on front end.
10:42 AM - Feb 26, 2015
So far very good and response was timely. More than that transparent in giving details. HDFC Limited is working good by communicating all the stuffs from start to the end. They released home loan in a short duration and rate of interest 10.15% is competitive. Rate of interest and charges are average in comparing to other industries.
03:50 PM - Feb 25, 2015
I was holding a housing loan with Bank of Baroda. They offer very good service. Rate of interest offered by them is quite nominal. I have actually taken that for a period of 18 years. It was a joint account , however I have closed this loan in between my making a lump sum payment and also by paying higher EMI. The loan was closed successfully without any complications.
12:49 PM - Feb 25, 2015
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
EMI limited to about 50%
of monthly income
Loan capped @ 75% - 85% on property value
EMIs of other loans lower
Making your spouse a co-applicant
Choose longer tenure loans of up to 20 - 30 years
Alternatively add your parents as co-applicants
|Interest Rate (Monthly reducing balance)||10% - 10.5%|
|Processing Fees||0.5% of Loan|
|Loan Tenure||1 year to 20-30 years|
|Partial pre-payment Charges||Nil|
Plot loans offer lower ‘loan-to-value’ than home loans which means that the interest paid out will be higher. Loan-to-value offered by home loans is 80-85 per cent of property price but plot loans offer only 60 per cent of the property price the rate of interest charged on a plot loan is usually at par with the rates applicable to a home loan. In case of plot loans, a customer is not eligible to claim income tax deduction for principal repayment or for payment of interest.
There are many restrictions and conditions placed on plot loans by the bank. Banks such as HDFC restrict the loan amount based on the location of the plot especially if it is located in the outskirts of the city. Also, plot loans are not available for purchasing land for agricultural purposes. It can be used only for buying a plot for residential use, investment purposes and so on. Banks normally have other restrictive clauses that require the borrower to finish construction within a stipulated period of time.
20th February 2015
Those who’ve done it will be well aware that searching for the right home loan is a time consuming process. Keeping that in mind, the Confederation of Real Estate Developers’ Association of India, better known as CREDAI, has taken a unique initiative to simplify that task for Chennai residents by organizing a Home Loan Mela this February. The event, which will take place between February 13th to February 15th at Vijay Mahal in Pondi Bazaar, is being organized to help bring customers a step closer to building their dream house. The Home Loan Mela will feature some of the country’s leading banks like ICICI, SBI, Axis Bank, HDFC, Punjab National Bank, Karur Vyasya Bank, Oriental Bank of Commerce, Sundaram BNP PARIBAS, India Bulls, LIC Housing Corporation and more. Customers can benefit not only from the wide range of choices available for home loans but also gather valuable information pertaining to home loans under one roof at the Home Loan Mela this February.
12th February 2015
As a welcome sign from RBI for banks to reduce rates, norms have been eased for applicants seeking home loans for low-cost housing. This means you can now easily get home loans with minimal conditions. RBI has also allowed banks to provide loans in return for long-term infrastructure bonds as security. However, this new rule and minimal conditions for home loan does not apply for home loans in case the long-term infrastructure bonds is in the name of other banks.
In short, getting to the actual amount of home loan disbursed, one can expect a maximum amount of Rs 10 lakh. The loan repayment period is fixed based upon the time duration of the maturity of the bonds which is pledged as a surety for the low cost home loan. This new rule comes on the back of the RBI’s recent decision to allow money lending against long-term infrastructure bonds raised by the banks. Further, the loans against such bonds do not have to comply with the mandatory reserve requirements.
1st December 2014