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IREF® - Indian Real Estate Forum > Real Estate Open House > Home Loans in India > SBI vs LICHF vs HDFC
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Old May 9 2012, 09:17 AM   #1
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Default SBI vs LICHF vs HDFC

Dear all,
I am looking to get home loan of about 30L for a property. The approved banks are LICHF, SBI and HDFC. The builder is promoting LICHF and the personnels I talked to is very proactive in their earnestness to help, while the SBI personel whose contact I have been given by the builder didn't seem that enthusiastic. And the builder has not even cared to give HDFC contact person saying it is private sector and service etc is not satisfactory etc etc. Clearly they are biased towards LICHF. Now LICHF is offering fixed rate of 10.7% for 3 years and then floating. while SBI is giving floating for 10.5%. Haven't got figures for HDFC.
LICHF is promoting their flexibility in terms of loan repayment and their super efficient customer service as their USP. I donot understand some of the stuff they are saying but it seems like they have got facility specially if I select prorata basis of payment whereby they might be paying some of the demand amounts when I am unavailable (read abroad in IT industry) and then later I can pay the later amounts. They say this kind of flexibility is not available elsewhere. They also say that Collateral Security amount would be NIL which would be an advantage.
Under the given scenario can you please advice which route should I take?

Really appreciate any advice

Shas

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Old May 9 2012, 10:46 AM   #2
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i'll suggest go for LICHF or SBI. for ease start process with all three. and if all three approves go for SBI then LICHF and last one to HDFC.
now a days PSUs are very good and active in disbursing the loan.
my friend got Car loan from SBI in 5 days during diwali 2008
my another friend got home loan from LICHF in 15 days for Under Construction property in Noida.
and two of my relative got Home loan from SBI in 20 days
I got education Loan from PNB in 1 day
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Old May 13 2012, 12:36 AM   #3
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Quote:
Originally Posted by manishag View Post
i'll suggest go for LICHF or SBI. for ease start process with all three. and if all three approves go for SBI then LICHF and last one to HDFC.
now a days PSUs are very good and active in disbursing the loan.
my friend got Car loan from SBI in 5 days during diwali 2008
my another friend got home loan from LICHF in 15 days for Under Construction property in Noida.
and two of my relative got Home loan from SBI in 20 days
I got education Loan from PNB in 1 day
Dost, Getting car loan is quite different in comparison of Housing loan.
PSU, Govt or private does not matter. Major thing how these lenders have behaved with customer in last years period.

Of course, Loan sanction & getting disbursement is almost more and less same lengthy & tedious job for each customer in each of case.

Now, I can tell you some positive of HDFC in comparison of SBI or LIC :

1) No need of paying stamp duty (0.5~1% of loan amount) for making memorandum of agreement. (15000~30000 Rs in ur case)
2) Forced life & home insurance
3) Need of co-applicant
4) If you apply through reputed HDFC DSA, You can save whole processing fee with your effort

Banks are on top of ROI, hence don’t go for fix rate.
 
Old May 21 2012, 02:24 PM   #4
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Default I prefer SBI fro Home Loan

Dear shas1611,

I prefer SBI, when it comes to Home Loan.

Why? Check out this links and you're doubt's will get clear.

http://www.indianrealestateforum.com...oan-25608.html

Best Bank for Home Loan – SBI , HDFC , LIC Housing , Axis , ICICI
 
Old May 29 2012, 11:35 AM   #5
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Regd SBI Home Loan

My loan agent tells me that i will have to visit the SBI RACPC everytime the builder demands money against the completion of milestones in the construction agreement. Is this true?

Is there no way of handling money disbursement electronically?

What is the plight of people who apply for a loan in one city and then are transfered or chose to move to another city?
 
Old May 29 2012, 10:07 PM   #6
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[QUOTE=varshneyiet;418687]Dost, Getting car loan is quite different in comparison of Housing loan.
PSU, Govt or private does not matter. Major thing how these lenders have behaved with customer in last years period.

Of course, Loan sanction & getting disbursement is almost more and less same lengthy & tedious job for each customer in each of case.

Now, I can tell you some positive of HDFC in comparison of SBI or LIC :

1) No need of paying stamp duty (0.5~1% of loan amount) for making memorandum of agreement. (15000~30000 Rs in ur case)
2) Forced life & home insurance
3) Need of co-applicant
4) If you apply through reputed HDFC DSA, You can save whole processing fee with your effort

Banks are on top of ROI, hence don’t go for fix rate.[/QUOTE}

Sirji,

LIC housing never say for life insurance or home insurance.
LIC housing nver charge stamp duty for agreement.
lic housing never say for coapllicant.

All information you received is incorrect.

If you want loan from LIC housing with best services, best roi and no hidden cost call me-9312345423.

Dear Sir/Madam,

As we all know Due to the recent changes arising out of the Policy announcement made by RBI Market Dynamics is undergo some changes. Looking to the scenario all banks has increased there ROI from Nov 2010 and the same is still continuing process and all banks have withdrawn their special schemes like fixed scheme of 2 year 3 year and 5 year like HDFC, ICICI, IDBI, Axis, SBI, etc.

All financial expert view is that this condition will still continue for another 3-4 years till inflation don't come down to 6%.

Hence, LIC Housing new scheme.

CURRENT PLR IS 14.40%.

Now there is THREE new Scheme is as Follows called New Freedom Floating; Super-3 and New Advantage-5:-

1. A) New Freedom Floating (Offer Rate) (I)where ROI will be 10.40% for Loan upto 1.50 Crores.

B) Super-3 (I) Loan upto 40 Lacs 10.70% Fixed for 03 Year (ii) Loan from 40 to 100 Lacs ROI 11.25% Fixed for 03 Years (iii) Loan from 100 Lacs and Above 11.70% Fixed for 03 Years.

2. Pre-payment Charges NIL if paid through Own Source.

CURRENT PLR IS 14.40%

For New Loan or Transfer of Existing Loan Call Me. Encash this offer at an earliest.

"ABHI NAHI TO KABHI NAHI"
--------------------------------------------------------------------------------------------

We need the following docs from all the applicant with self attestation of all docs for SALARIED CLASS PEOPLE :-

1. Salary Slip for last 3 month
2. Bank Statement (Salary A/c)-06 MONTHS with bank seal.
3. One Year ITR with Form-16
4. Two Photo.
5. Pan Card & Address Proof Copy
6. Offer Letter/Appointment Letter/CTC Letter
7. Last Qualification Proof.
8. Details of all loan taken if any (sanction letter + TRACK RECORD)
9. Initially a Chq. Of Rs. 5618/-in favour of LIC HOUSING FINANCE LTD.


Regards,
Ram Prakash Singh | 91-9312345423
 
Old May 30 2012, 09:41 AM   #7
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Quote:
Originally Posted by singhrampr View Post
Hence, LIC Housing new scheme.

CURRENT PLR IS 14.40%.

Now there is THREE new Scheme is as Follows called New Freedom Floating; Super-3 and New Advantage-5:-

1. A) New Freedom Floating (Offer Rate) (I)where ROI will be 10.40% for Loan upto 1.50 Crores.

B) Super-3 (I) Loan upto 40 Lacs 10.70% Fixed for 03 Year (ii) Loan from 40 to 100 Lacs ROI 11.25% Fixed for 03 Years (iii) Loan from 100 Lacs and Above 11.70% Fixed for 03 Years.

2. Pre-payment Charges NIL if paid through Own Source.

CURRENT PLR IS 14.40%

For New Loan or Transfer of Existing Loan Call Me. Encash this offer at an earliest.

"ABHI NAHI TO KABHI NAHI"
--------------------------------------------------------------------------------------------

We need the following docs from all the applicant with self attestation of all docs for SALARIED CLASS PEOPLE :-

1. Salary Slip for last 3 month
2. Bank Statement (Salary A/c)-06 MONTHS with bank seal.
3. One Year ITR with Form-16
4. Two Photo.
5. Pan Card & Address Proof Copy
6. Offer Letter/Appointment Letter/CTC Letter
7. Last Qualification Proof.
8. Details of all loan taken if any (sanction letter + TRACK RECORD)
9. Initially a Chq. Of Rs. 5618/-in favour of LIC HOUSING FINANCE LTD.


Regards,
Ram Prakash Singh | 91-9312345423
Ram Prakash,

Is the "New Freedom Floating" offer of 10.4% for a limited period only? What is the spread under this offer? Is it PLR-4% for the whole term?
 
Old May 30 2012, 10:42 PM   #8
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What is the reputation of INDIABULLS for home loan ...... what are the risks in dealing with not so known players like indiabulls ?
 
Old May 31 2012, 07:32 PM   #9
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I initially took IDBI but later switched to LICHFL and very happy with my decision.Bank of Baroda is also a good option.
 
Old June 5 2012, 03:13 PM   #10
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Dear friends
I have a question. Will SBI and LIC sanction loans on properties which have deviations/violations? If so, upto how much total deviation is considered acceptable? I am purchasing a 2nd floor unit in Bangalore. But there is an unsactioned penthouse on the 4th floor. Can you please advise. Thanks.
 
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