A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • Franking Charges on Home Loan Reviews

    • Punjab National Bank Home Loan
      "Be consistent in the details"
      0.5 1.0/5 "Really Bad"
      PNB housing finance was not a good one for me, though they were okay in the process. They have charged me 100% of the processing fees when I was supposed t be charged only 50%. I had to pay more than 11k. They need to be consistent in the whole process.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The services at Bankbazaar has been good and the experience is satisfactory. I faced no issues or inconvenience faced. The website is also good and it is very much informative and very easy to browse through and choose the best bank in the market.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • Punjab National Bank Home Loan
      "Overall good"
      0.5 4.5/5 "Excellent!"
      PNB housing finance was very much cooperative and they collected my documents and processed my papers. The disbursement also happened as earlier as possible. The interest rate and processing charges is normal and the overall experience is perfect.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • Bank of India Home Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the Bank of India and their interest rate is around 8.9%. The loan amount got disbursed within specified time period, also I am really happy with the Bank of India for my home loan disbursal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a very good service from Bankbazaar ,everything was fine from Bankbazaar service ,even the customer service and the representatives were very helpful and responsible during my loan process they explained everything regarding my loan process.Bankbazaar website was also user friendly. friendly.Overall service was good from Bankbazaar.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 23, 2017
    • ICICI Bank Home Loan
      "WORST SERVICE"
      0.5 1.0/5 "Really Bad"
      It was a worst service from ICICI ,I got only one call from their representatives after that there was no proper response from ICICI representatives . They didn't give any proper information's regarding interest rate ,overall I am not happy with the service of ICICI.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "GOOD SERVICE"
      0.5 3.5/5 "Pretty good"
      The Service was very good from Bankbazaar , I got lot of options from Bankbazaar for my loan process . Even the response was very good ,I checked Bankbazaar website which was easy to use and user friendly overall it was an good experience from Bankbazaar.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 3.0/5 "Satisfactory"
      It was a very good service from HDFC ltd,response was very good from their representatives ,helpful customer service .Their interest rate was high compared to market value ,overall it was a good service from HDFC ltd for my loan process .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "GOOD SERVICE"
      0.5 3.5/5 "Pretty good"
      The Service was very good from Bankbazaar , I got lot options from Bankbazaar for my loan process . Even the response was very quick ,I checked Bankbazaar website which was easy to use and user friendly overall it was an good experience from Bankbazaar.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • ICICI Bank Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a good service from ICICI ,very helpful and responsible representatives from ICICI during the loan process . I had personal issues so I postponed my loan plan for next year also their interest rate was also 8.4 which was high ,still the overall service was good from ICICI .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a excellent experience with hdfc ltd for the home loan. They have explained everything very clearly to me. The process took some days not sure about it. I also got a good rate of interest at that time 8.75%. And also a processing fee was charged nominal I had taken it for 20 years but I pre closed it later.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 23, 2017
    • ICICI Bank Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have taken home loan from ICICI bank. The approved loan amount from the bank is 15 lakhs with a rate of interest of 10.75%. I am satisfied with the rate of interest as the promise to give me in that rate and the processing fees was bit high with ICICI bank,processing fee was normal. Tenured is for 20 years i have taken.
      Was this review helpful? 0
      , kharagpur
      Reviewed on Sep 23, 2017
    • Allahabad Bank Home Loan
      "GOOD SERVICE"
      0.5 3.0/5 "Satisfactory"
      The loan amount which ALLAHABAD BANK offered me was good. The customer services and representatives where very helpful. They contacted me and informed me the details. I was fine with the interest rate which was 8.5. Overall I can say it was good service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      The Service was very excellent from Bankbazaar , I got lot of options from Bankbazaar for my loan process . Even the response was very excellent from their representatives ,I checked Bankbazaar website which was easy to use and user friendly overall it was a excellent experience from Bankbazaar service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 23, 2017
    • Punjab National Bank Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was an very good service from PNB ,during my loan process the representatives of PNB was very helpful and very responsible representatives . But I was little busy with my personal issue ,even with a interest rate it was fine so I can say overall it was a excellent service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      The Service was very good from Bankbazaar , I got lot options from Bankbazaar for my loan process . Even the response was very quick ,I checked Bankbazaar website which was easy to use and user friendly overall it was an good experience from Bankbazaar.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • ICICI Bank Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was an very good service from ICICI ,response was very good from their representatives ,helpful customer service . Even their interest rate was also fine it was low compared to others ,overall it was an good service from ICICI .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      Service was very good from Bankbazaar , I got lot options from Bankbazaar for my loan process . Even the response was very quick ,I checked Bankbazaar website which was easy to use and user friendly overall it was an good experience from Bankbazaar.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 23, 2017
    • Punjab National Bank Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      The loan amount which PNB housing finance offered me was not sufficient. So I cancelled my plans in taking the home loan. Else the customer services and response was good. They contacted me and informed me the details. I was fine with the interest rate and charges. Overall I can say it was excellent service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 23, 2017
    • Bank Bazaar Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Service was very good from Bankbazaar ,customer service of Bankbazaar was very good and responsible. I even have checked with Bankbazaar website which was user friendly I like most in Bankbazaar is I can check my credit profile through Bankbazaar website which was very useful for me ,so overall it was an good service from Bankbazaar .
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 23, 2017
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    Franking Charges on Home Loan is Rated as "Great!" by 23759 Users

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    Home Loan BYTES FROM OUR KITCHEN

    Franking Charges on Home Loan

    Your home loans come with a variety of hidden or undisclosed charges which will be revealed only once your loan is approved and the processing begins. One such charge is the franking or stamping charge.

    Franking is a process of confirming the payment of stamp duty. Earlier, printed stamp papers were the only means of confirming stamp duty payment. So any document on which stamp duty has been paid would be printed on a non-judicial stamp paper earlier. However, this led to stamp paper scams in the 2000s involving counterfeiting of stamp papers, the most notable of which was the one involving Abdul Karim Telgi. Through fake stamp papers, the government is estimated to have lost around Rs. 320 billion.

    Franking process was introduced as an alternative to stamp papers in order to curb stamp paper forgeries. So when you pay the stamp duty – the tax payable to the government for legalising documents – at authorised banks or franking agencies, the bank/agency will put a stamp on the document to certify that the stamp duty has been paid. This “franking” will be done by putting a special adhesive stamp on the document with a franking machine. This confirms that the stamp duty has been paid, without having to deal with anything that could be forged.

    Franking has to be done for your property sale documents as well as the loan agreement. Franking charges, being a government levy, differ from state to state. Franking charges in Karnataka, for example, are a minimum of 0.1% of the sale value or the loan. So if the property you are buying is worth Rs. 45 lakh, your franking charges would be Rs. 4,500. This amount will be deducted from stamp duty, which also varies among states, and registration fees. Currently, in Bengaluru, the stamp duty is 5.6%, so if the franking charge is deducted, you will have to pay 5.5% of the property value in addition to registration fees.

    Another 0.1% franking charge will have to be paid on the loan agreement. This means that a total of 0.2% – at the very least – will be spent on authenticating your documents. Please check the franking charge in your state before you begin loan procedure so that the amount does not shock you.

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