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

    • Citibank Home Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      Citibank has been good in the home loan services and to get this loan through, it was a easy task. I never faced any inconvenience to get the disbursement and even after the loan was disbursed. The interest rate and charges are also normal. Services are good in all.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 16, 2017
    • SBI Home Loan
      "Home loan"
      0.5 5.0/5 "Blown Away!"
      Thankfully SBI has offered this housing loan to me. Being a joint account holder, I am very much happy in taking the housing loan, my income was very less but they some how helped us which is the best part. Special efforts were actually taken by them they suggested stating that they can offer the loan by clubbing wife and husband's income so that we can take the loan easily . I am happy with the rates offered as it was floating . To conclude, I am completely happy with their service.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Aug 16, 2017
    • HDFC Limited Home Loan
      "Not Good"
      0.5 1.0/5 "Really Bad"
      I had gone through some issues with HDFC limited when I was taking the home loan. Because, they made me to pay for 3 EMIs. Which is not at all required. I felt that I had paid some more charges as a processing fee and other irrelevant charges. Even I do not have any property insurance, but they had forced me to pay for insurance. I am not at all happy with HDFC Limited.
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      , mumbai
      Reviewed on Aug 16, 2017
    • SBI Home Loan
      "Need an improvement"
      0.5 1.0/5 "Really Bad"
      In the market other banks are providing home loan to a gram panchyat property but SBI is not providing the home loan. My property located in Channanagar at Hyderabad but SBI have rejected my application, their loan norms are very strict and they asking lot of documents with heavy paper works.
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      , hyderabad
      Reviewed on Aug 16, 2017
    • ICICI Bank Home Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied Home loan with ICICI bank. They are fast in their process, they fixed an appointment to collect the documents after that they told the required documents were missing so that was the reason I haven't proceed with ICICI bank. The rate of interest is low when compared with others banks.
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      , bangalore
      Reviewed on Aug 16, 2017
    • Bank Bazaar Customer Support
      "Good "
      0.5 5.0/5 "Blown Away!"
      It was a good experience, I enjoyed it and I will let other customers also know more about bankbazaar and I will also refer the same process to others to get the loan . Hope further things will also be smooth and processing fees should be made less by Hdfc bank .
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      , kanpur
      Reviewed on Aug 14, 2017
    • Bajaj Finserv Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      My home loan was approved within minutes by Bajaj Finserv. The customer services are good and the overall experience was nice. I been a very long time customer of this company and I have always got the best of services. The interest and rate and charges are normal.
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      , ghaziabad
      Reviewed on Aug 14, 2017
    • Bank Bazaar Customer Support
      "For home loan"
      0.5 4.5/5 "Excellent!"
      It's very easy to process the home loan ,I am very satisfied with bank bazar app ,very good. Customer care service is very helpful and quick service was provided with in 24 hours ,it's really good and comfortable service that I received from bank bazar.com Thanku bankbazr
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      , kolkata
      Reviewed on Aug 13, 2017
    • HDFC Limited Home Loan
      "Poor Service"
      0.5 1.5/5 "Bad"
      Very poor service. They claim to be transparent on the process and commitment , however, have a very poor support. @Sector 62, Noida branch. Till the time processing fees is not encashed, all is good, after , complete turn around on the attitude and response. You can be even cheated after commitment done.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 13, 2017
    • Bank Bazaar Customer Support
      "Excellent service"
      0.5 4.0/5 "Great!"
      Bankbazaar provides complete service. The comparability option is very good in bank bazaar website, I would say it helps to choose the best product in the market. The website of bank bazaar is easy to use and user friendly, I am happy with bank bazaar service.
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      , pune
      Reviewed on Aug 12, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      The Overall process was very good from SBI home loans, The executives are really good and they were updating me the status on time to time. They have disbursed my loan within 2 weeks of time. I am happy with the loan amount . The rate of interest is nominal with SBI. I am satisfied with the SBI service.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 12, 2017
    • review Home Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      Got home loan from Equitas housing finance. They have approved the loan amount around Rs,10lakhs based on my documents, they have promised that they will release the documents to make the account as current account. The rate of interest is high when compared with others.
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      , dindigul
      Reviewed on Aug 12, 2017
    • Axis Bank Home Loan
      "Very worst service"
      0.5 1.0/5 "Really Bad"
      I have applied home loan with Axis bank , they told that I am eligible to get loan upto 12lakhs but I have asked only 10lakhs, Axis bank has sanctioned my loan, But they never released the loan amount, by saying that I had back log with ICICI bank.
      Was this review helpful? 0
      , dindigul
      Reviewed on Aug 12, 2017
    • review Home Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      Canfin homes Ltd is good in the process. I have taken a home loan and I had no issues in getting the loan and also after the loan was disbursed. The interest rate and processing charges is also reasonable. The documentation is nominal and hassle free.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Excellent platform and user friendly site for home seekers"
      0.5 5.0/5 "Blown Away!"
      I felt very nice and happy to see user friendly interface and hassle free process. This is really a great website which is like an angel to many home seekers like me. Today I visited the site in the morning and within one hour I am able to see great quotation. Thanks to all of you.
      Was this review helpful? 0
      , silvassa
      Reviewed on Aug 12, 2017
    • ICICI Bank Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      As per the market, ICICI gave me best interest rate for the home loan, initially I don't want insurance but they took the amount from the disbursed and they return the money back. I took the home loan of Rs. 32 lakhs for the tenure of 15 years. I am really satisfied with their service
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      Bank bazaar helped me to choose the financial product and in understanding them with thin the service time. The website of bank bazaar is easy to use and user friendly,. The user interface is good with bank bazaar , I am comfortable using bank bazaar service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 12, 2017
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      State of India has disbursed my home loan within the promised time. The verification and the documentation process was good with SBI. I got good response from SBI in concern to my home loan application. The rate of interest was nominal with SBI. I am happy taking a home loan with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "I am looking for Home loan luckily I got good opportunity"
      0.5 4.5/5 "Excellent!"
      Hiiiiii Bank bazar is a good site I am so impressed with your service, no need to visit door to door bank, here we get all the details about loan interest rate as every thing is available here. Thanks it is a very good site as Bank bazar provides me the loan and fullfilled my dream I will give you more and more customers .
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      , nasik
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and I have got the call from the bankers by very next day itself. Service aspects are good one with the Bankbazaar.com, also the response is very fine one with them.
      Was this review helpful? 0
      , indore
      Reviewed on Aug 11, 2017
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    Franking Charges on Home Loan is Rated as "Great!" by 22916 Users

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    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    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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