I approached ICICI Bank for the housing loan, I was awaiting for their response. Unfortunately I did not a get proper response from them on time. Interest rate offered by them was quite similar to other Banks. I was not informed about the processing fee in the first place finally I switched over to other Bank.
06:35 PM - Jan 29, 2015
Actually, it was good and it was best services rendered by LIC housing Finance. The agent Sandesh who had been assigned took up an initiative and helped throughout the home loan process. I would like to appreciate him. There are no pre closure charges.
05:59 PM - Jan 29, 2015
I am holding a housing loan with SBH. One of my friend named Prasad he is a Manager there through him I have taken this loan. Documentation process was very simple and easy. They took around 10 to 14 days of time to process the request. The interest rate offered by them was 10.25% and the processing fee charged by them was 5% of 25 lakhs which was around rs 8000.
04:45 PM - Jan 29, 2015
I did not get a housing loan from ICICI Bank, the reason why because it was kept on hold initially. As the property which I have chosen was a Bhkata Property which is at Bangalore. After some time the Bank got back to me stating that my loan is cancelled. I have not yet finalized the property yet.
06:11 PM - Jan 29, 2015
Customer service team of ICICI is not much knowledgable and kept updating the incorrect status of my eligibility related to home loan. There was no concern for customer needs. Charges are good anyway.
05:19 PM - Jan 29, 2015
First of all , ICICI Bank did not respond for the housing loan on time. Mine is an independent property . The property is on my name . The total amount what ICICI offered was around 17 to 18 lakhs . However I require around 25 lakhs. SBH offered me the complete loan amount the interest rate offered by them was 10.25% and interest rate offered by ICICI Bank was around 10.15%.
04:44 PM - Jan 29, 2015
I am currently holding a housing loan with HDFC LTD. I am happy with the service offered by HDFC LTD. I thought of enquiring about the rates what other banks are offering that is why I have checked with ICICI Bank for the housing loan. Moreover I got to know ICICI Bank penalty is high, if I failed to make the payment . So, I have planned to stay with HDFC LTD and I am happy with the way I am .
06:01 PM - Jan 29, 2015
LIC Housing finance is really good. It was very easy and simple. They explained to me about the whole process. We got approval within a weekâ??s time . I did not face any issues with them. They took around a weekâ??s time to process the request by the end of the week my loan was approved. I am happy with the rate of interest and processing fee.
04:49 PM - Jan 29, 2015
ICICI was pretty good in terms of home loan services. They called me quick and explained everything in detail based upon the norms and conditions. Since the property was not finalized, I was not able to go ahead further.
04:35 PM - Jan 29, 2015
It was also good with ICICI however as the builder had a tie up with different place, I was in a situation of canceling the home loan application. Interest rate is bit higher than other banks whereas processing fees is lesser.
06:00 PM - Jan 29, 2015
I initially spoke with ICICI Bank for the housing loan. The executives called me on day one and they have called me 2 or 3 times as I did not finalize the property I did not schedule an appointment with them. I did not face any issues nor concerns. Rate of interest offered by them was a standard one and I have taken loan with LIC Housing finance.
04:48 PM - Jan 29, 2015
Related to home loan with ICICI, there was not at all proper response from them. I did personally visited the branch, even though there is no proper response. Rate of interest was 10.15% for home loan.
03:52 PM - Jan 29, 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|
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