i am planning to take home loan. i have applied in both HDFC and LIC HFL, below are the differences:
LIC: 10.25% fixed for 2 years, then floating
HDFC 10.15 Floating

LIC is giving me more loan which i need also. Please suggest if i should go ahead with LIC as i am not much aware how will it be being govt company.
Read more
Reply
46 Replies
Sort by :Filter by :
  • Thanks for your inputs. I believe the payments that would be paid out to builder, builder would make available receipts with service tax components. However I doubt builder would be committing over BBA with service tax components as it can change in future.

    So Banks not funding service tax components is a normal thing?
    CommentQuote
  • Anybody who has availed loan from hdfc ?
    What are the processing charges and have they exempted the same in any case ?
    CommentQuote
  • I am in processing of getting my loan approved from them.. they are charging 11,236 as processing fees, rest I will come to know when it's approved. Based on my experience I would suggest go with some other banks if you can as they are very lethargic and irresponsible bunch of people with each person playing blame game with each other and no one taking up responsibility
    CommentQuote
  • You can use some agent who will take care of all papers. In some cases, agents waive off some of processing fee. But I would recommend don't consider someone just for some thousands saved in processing fee where lakhs are in stake.
    Even Avis bank is good option for home-loan which can be another option.
    CommentQuote
  • Originally Posted by envynicky
    I am in processing of getting my loan approved from them.. they are charging 11,236 as processing fees, rest I will come to know when it's approved. Based on my experience I would suggest go with some other banks if you can as they are very lethargic and irresponsible bunch of people with each person playing blame game with each other and no one taking up responsibility


    Thanks envynicky.even i am in process and have furnished the documents. Was just wondering if any body managed to get the processing fee waived off. I managed to get a waiver of 25% but am trying to get more.

    They do try to act oversmart though but need to be handled strongly. So far i have managed them and hope gets through without any issues.

    Would suggest you also push them hard for some waiver in the same. No harm in trying. I have so far managed 25% waiver.

    By the way which project have you booked in?
    CommentQuote
  • Originally Posted by hindustan
    You can use some agent who will take care of all papers. In some cases, agents waive off some of processing fee. But I would recommend don't consider someone just for some thousands saved in processing fee where lakhs are in stake.
    Even Avis bank is good option for home-loan which can be another option.


    Even i had the same impression for axis but my
    Experience on my car loan with them has been the worst that too for early closure of loan.

    They were the worst...

    I agree involvement of agent might be of help.
    CommentQuote
  • One important point to note that HDFC is not a bank , so they doesn't have a IFSC code. If u want to prepay your loan by direct online transfer from your bank account, you won't be able to do as it ask for IFSC code which is not available for HDFC. I don't know about other banks but for prepaying of loan in HDFC, only option is to visit the bank branch and pay by check.
    CommentQuote
  • Originally Posted by vagarg
    Thanks envynicky.even i am in process and have furnished the documents. Was just wondering if any body managed to get the processing fee waived off. I managed to get a waiver of 25% but am trying to get more.

    They do try to act oversmart though but need to be handled strongly. So far i have managed them and hope gets through without any issues.

    Would suggest you also push them hard for some waiver in the same. No harm in trying. I have so far managed 25% waiver.

    By the way which project have you booked in?


    I did not negotiate on getting processing fees waived off as I missed this while ensuring that I have my loan approved in due time. Looks like I am now far late in negotiating on this front as my loan is more or less approved now, for negotiating I have to start process with other bank as well but I will give it a shot.

    I too never had any major issues on my end as on date except the fact that their hierarchy never is actually informed of possibilities and states, their only response being "I will check and get back to you". Moreoever I have been constantly following up with them for inputs and status so really never gave a chance to slack. I only preferred HDFC since my builder said they have good terms with them and my loan approval would be their headache in case of any issue while I was welcomes to apply to other approved banks as well.

    Let see how it turns out to be. FYI I have a small 2BHK unit in Fusion Homes
    CommentQuote
  • In terms of processing Fees I have offer from Axis and Standard Chartered Banks:
    1. Axis is offering INR 2300 as fee for couple of days
    2. SC is offering NIL as fee for few days

    If anyone is interested they can avail these offers
    CommentQuote
  • Originally Posted by hindustan
    One important point to note that HDFC is not a bank , so they doesn't have a IFSC code. If u want to prepay your loan by direct online transfer from your bank account, you won't be able to do as it ask for IFSC code which is not available for HDFC. I don't know about other banks but for prepaying of loan in HDFC, only option is to visit the bank branch and pay by check.


    This option is available with corporation bank..

    Any surplus I do as neft more than my regular emi goes reduction in my principal ....so this is similar to prepayment without any physical hassle and any prepayment penalty

    Sent from my Lenovo A850
    CommentQuote
  • Members i need advise on the loan agreements signed with any of the banks. I am in the final stages of my loan processing with HDFC bank and after the completion of processing they have come up with an indemnity bond agreement to be signed.

    Has anybody else also signed an indemnity bond with the bank on his / her loaning in subvention plan. Irrespctive of any project

    Please let me know.
    CommentQuote
  • That a regular things and nothing to be concerned. As usual Banks wants itself to be kept outside any legal responsibility arising out of promise to fund this unit of yours. For availing loan and cheque this needs to be in place
    CommentQuote
  • Any idea if the bank charges (HDFC) the processing fees again if you want to change your unit within the same project ?
    One of my friend is facing this situation and HDFC says if customer change the unit WITHIN SAME tower, they will NOT ask for Processing fees and if you go for any other unit in different tower, Processing fees has to be paid again.

    Is n't something fishy in this?
    CommentQuote
  • Not sure about this but from what I know transferring a unit itself is a hectic work. However logically if no processing fees applies for same tower units, it should be same for any other unit in given project
    CommentQuote
  • Originally Posted by guptaMan
    Any idea if the bank charges (HDFC) the processing fees again if you want to change your unit within the same project ?
    One of my friend is facing this situation and HDFC says if customer change the unit WITHIN SAME tower, they will NOT ask for Processing fees and if you go for any other unit in different tower, Processing fees has to be paid again.

    Is n't something fishy in this?


    Is HDFC approved the Project where u are planning to buy? If yes, Best will be to involve Builder spokesperson/ bank in negotiation.
    CommentQuote