Which bank is good for a Housing loan

SBI

Bob

Everyone would have their own experience with different banks. Just go with what’s best in your zone , ask neighbours or friends about their experiences and the rate of interest offered.

Sbi. Hdfc – if not sbi

HDFC they offered me home loans for 6.5% interest

timelord wrote:

HDFC they offered me home loans for 6.5% interest

Is that depending on ur cibil?

Sbi

timelord wrote:

HDFC they offered me home loans for 6.5% interest

The lowest is 6.70 how did you got 6.5? Hdfc employee?

JaiKrish1031 wrote:

The lowest is 6.70 how did you got 6.5? Hdfc employee?

Bank Employee get loan at 2.5 to 3 %

If you want better service and high amount – HDFC
If you want low rates and want to utilise Overdraft – SBI

Dealo wrote:

Bank Employee get loan at 2.5 to 3 %

Humko bhi bank m naukri krne ka

timelord wrote:

HDFC they offered me home loans for 6.5% interest

Can u tell me how ? Like how u negotiated ? What’s ur cibil score ? Etc.

I m planning to take home loan either from sbi or hdfc.

As per my inquiry:

Pros of Hdfc- No mortgage charge, No home insurance compulsory. So saving of around 20k upfront.
Cons of hdfc – Their loan is retail prime lending rate. Which is not exactly same as Repo link. So whenever RBI increases rate, they will increase rate immediately while in downfall, they will decrease rate after 6 to 12 months.

Pros of SBI – Transparent, repo linked. Rate automatically changes after every 3 months.

Cons of SBI – More documentation required, mortgage charges, insurance cost etc.

raman12 wrote:

Humko bhi bank m naukri krne ka

Aa jao , join the club

drjpatwa wrote:

Can u tell me how ? Like how u negotiated ? What’s ur cibil score ? Etc.

I m planning to take home loan either from sbi or hdfc.

As per my inquiry:

Pros of Hdfc- No mortgage charge, No home insurance compulsory. So saving of around 20k upfront.
Cons of hdfc – Their loan is retail prime lending rate. Which is not exactly same as Repo link. So whenever RBI increases rate, they will increase rate immediately while in downfall, they will decrease rate after 6 to 12 months.

Pros of SBI – Transparent, repo linked. Rate automatically changes after every 3 months.

Cons of SBI – More documentation required, mortgage charges, insurance cost etc.

My cibil score is 806 also have a gold speciale savings account

timelord wrote:

My cibil score is 806 also have a gold speciale savings account

Great.

I have 793 cibil score but don’t have any hdfc bank account. Although I have Hdfc regalia credit card.

Don’t know whether they will offer me 6.5% or not on this basis…

JaiKrish1031 wrote:

The lowest is 6.70 how did you got 6.5? Hdfc employee?

may be its 6.7, not sure bro.

BAT_MAN wrote:

If you want better service and high amount – HDFC
If you want low rates and want to utilise Overdraft – SBI

can you explain what overdraft is ?
will SBI check legal part properly ? just want to make sure if its better than HDFC.

yes bank and kotak prvide the best rate of interest currently

jitz wrote:

can you explain what overdraft is ?
will SBI check legal part properly ? just want to make sure if its better than HDFC.

OD account is useful when you have other unplanned expenses
Whatever you keep in the OD account wull be considered against outstanding amount and you can use that amount if required


Check sbi maxgain or bob advantage plus
PM me if you need any help, I can guide you

BAT_MAN wrote:

OD account is useful when you have other unplanned expenses
Whatever you keep in the OD account wull be considered against outstanding amount and you can use that amount if required


Check sbi maxgain or bob advantage plus
PM me if you need any help, I can guide you

sure, will pm you with my questions.
i will have additional expenses.. so is SBI good for that?

jitz wrote:
sure, will pm you with my questions. i will have additional expenses.. so is SBI good for that?

• The Home Loan sanctioned will be linked with Saving Bank Account.
• The rate of interest applicable on this SB account will be Zero.
• Under the scheme, the borrower shall have the option to deposit all his savings in the linked SB account to avail maximum benefit of interest in the Home Loan account.
• Any credit available in the linked SB a/c at the end of the day will be counted for credit in linked Home Loan account. Consequently, the borrower will get the benefit of interest amount reduction in the Home Loan account to the extent of daily outstanding credit balance in the Savings Bank account.

BAT_MAN wrote:

OD Feature

• The Home Loan sanctioned will be linked with Saving Bank Account.
• The rate of interest applicable on this SB account will be Zero.
• Under the scheme, the borrower shall have the option to deposit all his savings in the linked SB account to avail maximum benefit of interest in the Home Loan account.
• Any credit available in the linked SB a/c at the end of the day will be counted for credit in linked Home Loan account. Consequently, the borrower will get the benefit of interest amount reduction in the Home Loan account to the extent of daily outstanding credit balance in the Savings Bank account.

Means 2 accounts are there
Any money in savings account will be considered against principal
And best part is that amout is 100% liquid

PM to get tips on how to utilize this feature to max

Hi bro, I have existing home loan account in Axis, can I change to this? pls advise.

make-in-india wrote:

Hi bro, I have existing home loan account in Axis, can I change to this? pls advise.

You can switch to these
Just inquire the documentation and switching charges

Definitely GO for this if you have 10-15 yrs  loan remaining 

BAT_MAN wrote:

You can switch to these
Just inquire the documentation and switching charges

Definitely GO for this if you have 10-15 yrs  loan remaining 

Ok thanks, will pm u for doubts

Spoke to SBI – this is what they said.
Normal SBI Homeloan
6.8% pc interest
no processing fee till 31st dec. ( if loan gets approved)
stamp fee – 1500
Legal – 3500
Valuation – 3000
Insurance – optional

i might not need topup – will have something as liquid money

is this normal or is there something to bargain.

@@BAT_MAN

@@SastaRaju

@@kathiravankannan05748

@@singh.sourabh818

@@kathiravankannan05748

jitz wrote:

Spoke to SBI – this is what they said.
Normal SBI Homeloan
6.8% pc interest
no processing fee till 31st dec. ( if loan gets approved)
stamp fee – 1500
Legal – 3500
Valuation – 3000
Insurance – optional

i might not need topup – will have something as liquid money

is this normal or is there something to bargain.

@@BAT_MAN

@@SastaRaju

@@kathiravankannan05748

@@singh.sourabh818

@@kathiravankannan05748

Maxgain not possible?
In that case you will not get OD account
Other charges are ok
No scope for bargain with PSUs

BAT_MAN wrote:

Maxgain not possible?
In that case you will not get OD account
Other charges are ok
No scope for bargain with PSUs

I’ll ask for max gain.
Lets see. I’ll confirm here

jitz wrote:

Spoke to SBI – this is what they said.
Normal SBI Homeloan
6.8% pc interest
no processing fee till 31st dec. ( if loan gets approved)
stamp fee – 1500
Legal – 3500
Valuation – 3000
Insurance – optional

i might not need topup – will have something as liquid money

is this normal or is there something to bargain.

@@BAT_MAN

@@SastaRaju

@@kathiravankannan05748

@@singh.sourabh818

@@kathiravankannan05748

Make women as primary loan account with joint name as u. SBI is giving 0.1% lower rate for women. Of course u have to take property also as joint holder.

Also by applying through yono app, additional 0.05% discount is there in SBI.

jitz wrote:

Spoke to SBI – this is what they said.
Normal SBI Homeloan
6.8% pc interest
no processing fee till 31st dec. ( if loan gets approved)
stamp fee – 1500
Legal – 3500
Valuation – 3000
Insurance – optional

i might not need topup – will have something as liquid money

is this normal or is there something to bargain.

@@BAT_MAN

@@SastaRaju

@@kathiravankannan05748

@@singh.sourabh818

@@kathiravankannan05748

Yep its ok

Also check @drjpatwa advice