sanmanganthe

Can someone provide some reviews for SBI home loans?

Navina

SBI home loans have the lowest interest rate of 8.25%. But usually they are harder to get unless your company has a contact with the bank. Home loan from SBI would be my first choice iwhen I go for a home loan. Other banks have prepayment penalty(I heard that the other banks also dont have this penalty now, I'm not sure on how far this is true). But there is definitely a difference in interest rates.

vibhav_pune

Yes,it is the best one.A little harder to get but no contact /contract between yr company and sbi is required.
If you fulfill the terms and conditions u will easily get the loan.
If yr builder is good and his scheme is approved by SBI,then u will get sanction letter in couple of visits.

realacres

My bet would be Bank of Baroda.

Nisardel

BOB is good, so is PNB and Union Bank. They have recently reduced the loan interest to 8.25% for first 3 years and no prepayment penalty upto 100% of your loan .

vanraj143

What about axis bank?

vibhav_pune

PNB,BOB,Union ....infact all nationalised banks are better than private one if u r getting a good deal...
But key word is avoid private bank even if they provide loan at home facility.

Getting a loan from nationalised bank is not that easy.
SBI atleast in Pune is ahead of them due to facilities like
1)centralized processing,separate marketing team,
2)online banking.
3)Some builders get their project pre-approved by SBI

apkumbhar

Hi,

I would like to add some points
1) SBI has outsourced some of initial work to private company, which made initial processing hassle free.
2) SBI improved service a lot and I had good experience.
3) They have Max Gain (over draft) facility which a lot good and saves lot of intrest...

sanmanganthe

Thanks a lot folks.
I am going ahead with SBI as of now.

stambe

Please try to weigh them on apna paisa web site. We loose small small points, when confirming on home loans. You will know from here.

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