I have arranged my own funds that is why I have not taken a housing loan with DHFL. At that time of applying I had checked with other banks as well, however DHFL interest rate was very high which is 15%. Processing fee charged was zero percent with other Banks. Where as DHFL processing fee was rs 1000 approximately.
06:42 PM - Mar 06, 2015
Actually when I approached DHFL for the housing loan they were in need of 3 years IT returns, however when I had only 2 years IT returns. So I had planned to take a housing loan after 3 months of time and I might approach DHFL for the same. Customer service offered by them was really high and processing fee charged by them was 14% which is on the higher side where as other banks are providing 10% only./
04:28 PM - Mar 06, 2015
Not at all satisfied with Axis bank because for one week I did not receive any response from the executive so I went with other bank for home loan. Response and customer service was very poor. In respect to interest rate no problem because it is standard. No idea about processing charge as we did not discuss about it.
12:05 PM - Mar 05, 2015
Follow up is very good with DHFL for the housing loan. Once after I finalising the property I will apply for the housing loan. I did not discuss much with them. Response provided by them was really good. I got a call from them on time and the rate of interest is high when compared with others.
05:54 PM - Mar 06, 2015
Drawback in LIC Housing finance is that, delay in updating details. Whenever we want to update the contact details, they donâ??t listen to customers and they will take a long time to complete the procedure. Moreover they did not call customers to ask feedback where we have to run behind them to get things done. Interest rate for home loan is as per the market. Now the interest rate is floating and it is 10% where later it may increase.
03:50 PM - Mar 05, 2015
I am holding a housing loan with ICICI Bank. My opinion about them is rate of interest offered by them was 10.25% which is a floating one. They helped me in many ways. The best thing is they have recommended the lawyer for documents registration and he completed all the formalities. They have even given suggestion for interior decorators as well.
06:24 PM - Mar 04, 2015
I am yet to finalise the property. I am still searching for the property. I dont have any idea of what the interest rate is, nor I dont have the clear information about the housing loan of DHFL as I dont recall very well. I have planned to apply after 4 or 5 months. Customer service offered by them was good and within a span of 1 day I got a response from them and they were able to provide all the information.
05:21 PM - Mar 06, 2015
Glad about ICICI bank and the sales staff were really supportive and cooperative. I am impressed with the service of ICICI bank and officials were helping entirely and they played important role during home loan process. They took ownership to complete the process. Interest rate is equal to other banks and it is floating throughout the tenure.
12:53 PM - Mar 05, 2015
My experience with Standard Chartered Bank was not good for the Home loan which I have taken. There is no proper follow up done by the customer service executives as I had to do a follow up with them every time. They charged me for insurance and later I got it reimbursed to my account. In addition they are demanding for the unnecessary documents for which I had to pay extra and get it done. It would be better if there is an option to submit the documents online and if incase if any attestation required they can send it to us. And also I would request them to intimate in prior before they could visit the property for valuation.
06:19 PM - Mar 04, 2015
DHFL housing loan is ok . I had already approached RECCO as it is next to my place. I got a positive response from them as well so I took a housing loan from them. One of my friend has advised me to apply at DHFL. Nothing wrong with DHFL rate of interest and processing fee charged by DHFL is quite similar to others. I have planned to approach DHFL for the two wheeler loan shortly.
05:03 PM - Mar 06, 2015
My home loan application with Axis bank could not processed to the next level because they informed that my office have no branch in India. They directly informed that I am not eligible and they did not guide me with alternate options. They could have been informed that I can take loan with co-applicant. I am not that much impressed with Axis bank. Other than that rate of interest is similar to other banks. Response was not up to the mark.
12:52 PM - Mar 05, 2015
ICICI services was pathetic for the home loan which I have applied . I applied in the month of May at 2014 and I got my approval email in the month of January 2015. I am holding my salary account for the past 11 years and and I expected them to treat me as a privilege customer which didnâ??t happen. I was totally disappointed with the service provided by them. I would suggest they should serve the customers within the time limit provided and also provide a proper follow ups.
05:16 PM - Mar 04, 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|
The Reserve Bank of India cut repo rate by 25 basis points bringing the policy repo rate to 7.5% from 7.75%. This second rate cut in the last two months is expected to make home loans cheaper. This move comes days after the release of Union Budget wherein the government had planned to collaborate with the RBI to target inflation. The RBI rate cut is likely to give a boost to the economy while also bringing down the loan EMIs. This cut in the policy key rates will lead to a reduction in lending rates by banks and also drive the banks to drop interest rates on home and car loans. RBI quoted its pledge to exercise fiscal responsibility and be pre-emptive in its policy for monetary accommodation as the main reasons for the rate cut.
With the rate cut leading to lower EMIs, this might well be the right time to apply for a home loan if it is on your agenda. Check out various home loan options on BankBazaar.com to plan your finances accordingly.
6th March 2015
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