Bank loan suggestions BAJAJ or HDFC homeloan

Bank loan suggestions BAJAJ or HDFC homeloan

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Deal Newbie
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Hi all
I am planning to take home loan around 60 lakhs, please suggest which bank should I go Bajaj or HDFC. interest rate and hidden charges/processing charges.
Kindly give suggestions

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Deal Subedar
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HDFC Home loans are driven by HDFC bank and they follow RBI Guidelines.
Bajaj Finance is not driven by bank and they follow NBFC guidelines.

Whenever Interest rates comedown RBI will pass strict rules to banks and bank will reduce your floating Interest rates without your intervention. This is not the case with NBFC’s and RBI doesn’t have control over NBFC’s.

If SBI approves your home loan request then blindly go with them else you can consider other banks but big NO for NBFC driven financial services.

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Deal Cadet
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Go with bank, HDFC one of best in terms of loans
However after 2-3 year all change roi for home loan, then you can either switch or re negotiate with bank
however with NBFC, switching would be difficult i guess

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Deal Cadet
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Don’t go with HDFC Bank or HDFC Ltd.
I have personal experience with both. My current home loan is with HDFC Ltd. It is NBFC. and my loan rate is 9.55%. My loan started with 8.5% in 2018 but within 1 year it reached to 9.55% (even though repo rate was going down. NB. NBFC don’t follow repo rate). one of my friend got home loan at same time with SBI with same rate 8.5% and now his home loan rate is 8.3%.
and after sales service of HDFC is very poor (I have experienced it in 3 branch in Ahmadabad). Even just small inquiry they are taking 2-3 hours. and if you ask for new homeloan inquiry, they will serve you promptly without wasting single minute.

I think better to go with public bank (SBI, IDBI or any other). With HDFC or any private sector home loan, initial process would be fast. around in 7-10 days you can get disbursement cheque. public sector bank takes around 15 to 25 days. Document required by public or private sector bank or NBFC are almost same.
so as per my opinion, public sector bank are good.

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Deal Cadet
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HDFCBANK dont offer home loan , its provided by HDFC ltd

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Deal Cadet
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Par_ wrote:

Don’t go with HDFC Bank or HDFC Ltd.
I have personal experience with both. My current home loan is with HDFC Ltd. It is NBFC. and my loan rate is 9.55%. My loan started with 8.5% in 2018 but within 1 year it reached to 9.55% (even though repo rate was going down. NB. NBFC don’t follow repo rate). one of my friend got home loan at same time with SBI with same rate 8.5% and now his home loan rate is 8.3%.
and after sales service of HDFC is very poor (I have experienced it in 3 branch in Ahmadabad). Even just small inquiry they are taking 2-3 hours. and if you ask for new homeloan inquiry, they will serve you promptly without wasting single minute.

I think better to go with public bank (SBI, IDBI or any other). With HDFC or any private sector home loan, initial process would be fast. around in 7-10 days you can get disbursement cheque. public sector bank takes around 15 to 25 days. Document required by public or private sector bank or NBFC are almost same.
so as per my opinion, public sector bank are good.

SBI is best in terms of ROI current and future , but loan amount low considering other privet banks

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