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

    • Bank Bazaar Customer Support
      "Loan approval "
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar was good and the process on the website is easy and quick. I received a proper response and the team was helpful to give me details of various banks. The offers are satisfactory and the follow up calls is also up to the mark.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      The services rendered by Bankbazaar has been perfect. I am happy as the response was provided on time and they were clear in giving me the details. I received follow up calls as well. The website is good and easy to navigate as well. The overall experience was really good and there were no hassles faced.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Response is good"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has done a good job, they contacted me on time and informed me the details. I had applied for a home loan. I could not proceed ahead because I was traveling and was not in town. I postponed the the plans. Not sure on the interest rate and charges.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • Bajaj Finserv Home Loan
      "Good. Can do better"
      0.5 3.5/5 "Pretty good"
      My home loan is from Bajaj Finserv. I am happy that they offered me a loan of 31 Lakhs. But the coordination during the process was not up to the mark. I expected the documentation process and the terms and conditions to be completely done at one shot. I had to submit the paper work one after the other and due to which the loan disbursement was delayed. The rate of interest was of 8.5% and there was a processing charges totally of 25K. There is a part payment option too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have earlier taken a home loan from HDFC Ltd and even closed it as well. That process was smooth and I never had issues in getting the loan and the closure was easy too. The interest rate and charges was normal and the documentation was also easy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • Bank Bazaar Customer Support
      "Satisfactory services"
      0.5 4.5/5 "Excellent!"
      The services at Bankbazaar has been good and the overall experience was nice all through the process. I had no issues is accessing the website and the details on it is easily understandable. The process in getting connected to the banks is also swift.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      I did not take the home loan from HDFC LTD because they were offering me a lower loan amount. They were willing to offer me only 28 Lakhs. So I went ahead with another institution who was offering me a better deal. The customer services and response was on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken the home loan from HDFC Ltd. The process went good without any challenges. Even the interest rate is good. I had received excellent customer service and response from HDFC Ltd for my home loan process. I got loan without any hassles.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 24, 2017
    • Axis Bank Home Loan
      "very irritating"
      0.5 0.5/5 "Unacceptable"
      The agents are giving wrong commitments I was informed that i will be getting pradhan mantri awaz yojna benefits while sanctioning the loan and now at the time of disbursment in am asked to give my documents again to get the loan resanctioned to avail the PMAY benifits. This means that they want the processing fee again. Very good way of making money. Never take loan from them @axis bank. If you still have any humanity or customer service left, call on 7219609021 to resolve the issue
      Was this review helpful? 0
      , pune
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good deal"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has been really good in their services and process. I had taken my home loan from them and the documentation were very much normal. The disbursement of funds were done on time and the after loan services are also good. I got a good deal on the interest rate and charges.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 24, 2017
    • SBI Home Loan
      "Easy and quick process"
      0.5 5.0/5 "Blown Away!"
      State Bank of India has offered me a home loan as well. The process to get the loan was not much. The documentation was simple and the disbursement happened on time too. The rate of interest and processing charges was also minimal for me. I had no hassles with the after loan services.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 23, 2017
    • Bank Bazaar Customer Support
      "Finance on phone Just click and tensions free"
      0.5 4.5/5 "Excellent!"
      It's very easy to contact any bank for any reqirement and also the information about best schemes were also provided. It's also shown our eligiblity. I also got a credit card before 4 2month and now also applied for a home loan Thank all for your response and the Team of Bank Bazar Best Bank service provider of India.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 22, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I really appreciate bank bazaar.com, I am filling application online and we have don't face any issue we have completed form very normal and I see the result I am very glad to use the services of bankbazaar.com. Further, I would like to recommend my friend for this site.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 22, 2017
    • Bank Bazaar Customer Support
      "Service"
      0.5 2.5/5 "Just OK"
      Good services, quick response. Hope my requirements will be completed very soon. I suggest everyone to please go through the bankbazar.com for your requirements. Your dreams also will be fullfilled. Thanks to bankbazar.com hip hip hoore!!!
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 20, 2017
    • Bank Bazaar Customer Support
      "Process is so easy and comfortable"
      0.5 4.0/5 "Great!"
      It was a smooth process to apply, rather visiting different bank the experience over here was wonderful.The address and ID proof works amazing also here is no other competitors for bank bazaar and also instant loan application process is amazing. Lets hope for the best service and the result were very much satisfactory.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 20, 2017
    • Axis Bank Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The axis bank had very good communication in regards to my home loan application. They have disbursed my home loan within 3 days of time. The customer service and the response was good with Axis bank. The required loan amount has been approved and disbursed by axis bank. I am happy with the loan amount. The rate of interest of interest is nominal with the axis bank. I am satisfied with Axis bank service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • ICICI Bank Home Loan
      "Very Pathetic experience with ICICI HOME LOAN Department"
      0.5 0.5/5 "Unacceptable"
      I had a very Pathetic experience with ICICI HOME LOAN Department as their employees not aware of process to be followed for home loan. They did not consider House Government Proofs. They have their own list according to which all property documents should be arranged. No Responsible employee in Kaushambi Ghaziabad branch. ICICI should take care of this. Same property has been loaned from SBI bank and PNBHFL was also ready to provide loan on same property. Very Bad Service from Kaushambi Ghaziabad Team. Take care if you approach this branch.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jul 19, 2017
    • Axis Bank Home Loan
      "Worst Customer Service Experience"
      0.5 0.5/5 "Unacceptable"
      The worst possible way to get humiliated is when a Bank of choice for you for the past 6+ years decides that Customer service is for Fools. I was thrown around back and forth and was ignored on around 75+ calls made during a period of the whole of 2 months since my loan got sanctioned and the Bank has no response at all. And after 2 months they come back and say We can't process the loan. Does Axis bank think the customer is taken for granted just because they invested in the eco-system? I am closing the Salary accounts and Credit Cards I hold with the bank as they have lost all goodwill from an ardent customer. So in Axis bank's terms 15 working days = 2 Months in Communication Isolation. Worst Customer Service Experience Ever.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Jul 19, 2017
    • LIC Housing Home Loan
      "HIGH Interest rate and NO service"
      0.5 0.5/5 "Unacceptable"
      After 5 years of fixed rate of interest tenure, without any notification or information LICHFL started charging sky high interest, which nowhere near to market rate. When contacted they asked to pay Rs 1050 and I had to fill and submit manual form, which is added head ache. After that also the rate of interest is quite high than the market rate. Again after one and half year, they are asking to submit manual form to their office and pay Rs 1180, to correct the interest rate. This rate is also quite high than the current market rate. YOU WILL END UP PAYING MORE INTEREST AND CHARGES FOR SURE. I would NOT recommend to take home loan from LICHFL.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Great Service"
      0.5 4.0/5 "Great!"
      It was a great service provided by you, I could compare loans terms of different banks in a single window. I need not to go any where for applying loan in my busy schedule. I will like to give it excellent, but I have uploaded my bank statements 3 times as I got some error . It would be great if I had received calls with in two hours as promised in the site, other wise it was a great service provided by them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 18, 2017
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    Home Loan Types is Rated as "Great!" by 22759 Users

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    Home Loan BYTES FROM OUR KITCHEN

    In India, settling down has become synonymous with owning a home. In this busy world, everyone dreams of owning a perfect abode where they can find solace at the end of the day. Buying a home is also becoming a Herculean task these days owing to the mounting real-estate prices. A home loan is an easy way to fund your house purchase given that it is not a wise idea to burn your entire savings to buy a land or a home.

    Banks and other housing finance establishments offer different types of home loans these days. The demand for home loans has increased manifold in recent years and people have different expectations when it comes to a home loan. To cater to the requirements of different sections of society, a lot of banks have come up with this concept of introducing different home loan schemes. To quote a few, several banks offer specially crafted home loans for women, agriculturalists and loans exclusively for purchase of land.

    Types of Home Loan:

    Lenders offer home loans, not only for buying a house but also for a variety of other purposes. Some of the popular types of home loans available in the financial market are described below.

    • Loans for Purchase of Land

      Several banks offer loans for land purchase. Purchasing a land is a flexible option, the buyer can save funds and construct a house whenever his finances allow or just have the land as an investment. Up to 85% of the cost of the land is given as loan by lenders like ICICI Bank and Axis Bank.

    • Loans for Home Purchase

      The most popular type of home loan is the loan for purchase of a new or a pre-owned home. This loan is also commonly available and is offered by many banks in different variants. The interest rate is either floating or fixed and generally ranges anywhere between 9.85% and 11.25%. Also, 85% of the total amount is offered as a loan by many banks.

    • Loans for Construction of a House

      This loan is specially designed for people who want to construct a place according to their wishes rather than buying a pre-constructed house. The approval process for this type of loan is different for it takes into account the cost of plot also. The most important clause when applying for a home construction loan is that the plot must have been purchased within a year for the plot cost also to be included in the loan amount. The loan amount is decided based on a rough estimate of the construction cost. The amount may be disbursed at one go or in multiple installments. Popular home construction loans include the schemes offered by Bank of Baroda, UCO Bank and Canara Bank.

    • House Expansion or Extension Loans

      Want another balcony or an additional bedroom? No worries, some banks also offer loans for house expansion including alteration of current structure and construction of new rooms. HDFC Home Extension loan and house renovation loan offered by Bank of Baroda are popular in this category.

    • Home Conversion Loans

      People who have already availed a home loan and have purchased a house with it but want to move to a new house can opt for home conversion loans. By transferring the current loan to new house, borrowers can fund the purchase of the new home and also need not repay the previous home loan. Though it offers convenience, this segment of home loan is also very expensive.

    • Loans for Home Improvement

      Renovation and repair works like external and internal repair, painting, construction of overhead water tank and electrical renovation certainly will make your house look better. But if you lack the finances for repair and renovation, banks like Union Bank of India, ICICI Bank and Vijaya Bank offer specialized home improvement loans.

    • Balance Transfer Home Loans

      This option can be availed when an individual wants to transfer his home loan from one bank to another bank owing to reasons like lower interest rates or better services offered by the other bank. This is done to repay the remaining loan at a revised, lower interest rates offered by the other lender.

    • NRI Home Loans

      Specially designed to support non-resident Indians in buying a residential property in India, the formalities and application procedure for this type of loan is different from the others. Generally, most of the private and public sector banks offer NRI loans as a product of their housing loan portfolio.

    • Bridged Loans

      Bridged Loans are short term loans that are designed for existing homeowners who are planning to purchase a new property. It aids borrowers to fund the purchase of new house until a buyer is identified for the existing property. This type of loan usually requires the mortgage of new house with the bank and is extended for less than two years. Several banks like Vijaya bank and HDFC Bank offer bridged loans.

    • Stamp Duty Loans

      Not a widely known segment of home loans, stamp duty loans are offered to cover the stamp duty charges during the purchase of a property.

      With home loans becoming the norm of the day when it comes to purchasing a home, it also becomes equally important to identify your requirement and apply for the right type of home loan. Not only will it reduce the paperwork and simplify the loan approval process, it will also allow you to enjoy a loan at reduced interest rates. Also, make sure you use an home loan EMI calculator to know your amortization schedule and plan the finances better.

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