Hey guys, I got the quotes from various banks. The three of them I found very lucrative in terms of interest rates, processing fees, pre/part payment rates etc were:
1. SBI: 1st year 8, 2nd-9%, 3rd 9%, then BR + 1.75%
2. IdBI: 9%
3. IDBI Home Finance: 8.9%, RPLR-3.35%

Other baks have rates of >=9.75%. Processing fees for any of these above are under 12000.

Do anybody have any previous experience with the above three? especially with Idbi bank and Idbi home finance(both are different entities). I can't find much reviews from any of these two.

Quick response would be appreciated.:D
Read more
Reply
44 Replies
Sort by :Filter by :
  • Originally Posted by amjamirs2
    Sorry Friend,

    But you will not get the luxury of agent visiting your home/office for BoB.

    You have to go to Retail Loan Factory of BoB located on Ghole Road, Shivajinagar. Its the lane opposit to Balgandharv.


    However, I would say worth taking the pain in intial stage. You will not regret it for lifetime. :)
    CommentQuote
  • Please check with LIC HF . They are offering 9.25% fixed for 5 years .

    Regards,
    Rose_1
    CommentQuote
  • Originally Posted by amjamirs2
    Sorry Friend,

    But you will not get the luxury of agent visiting your home/office for BoB.

    You have to go to Retail Loan Factory of BoB located on Ghole Road, Shivajinagar. Its the lane opposit to Balgandharv.

    I checked with BOB website, it is saying an interest rate of 9.75 % for home loan of >30 lks and duration >15yrs.
    CommentQuote
  • Originally Posted by ams444
    In my Opinion. IDBI Home Finance is good for nothing.. One of my friend got a loan from them and they dint even inform him about changes in interest rates... When he inquired about excessive interest component he came to know about it....

    IDBI Bank on the other hand is more or less like any other PSU bank....


    OK, I will chk with IDBI bank.
    CommentQuote
  • Originally Posted by newone
    AVOID IDBI Homefinance at any cost.

    Also, there's a bank called Indian Bank (i guess), near aurora towers in camp....they were offering 8.5% RoI when all other banks were offering 11.25% in 2007... unfortunately i came to know abt that bank later..... neways u can try....

    Good luck !!


    Indian Bank has rate of >10 % for my requirement
    CommentQuote
  • Originally Posted by saggii
    I checked with BOB website, it is saying an interest rate of 9.75 % for home loan of >30 lks and duration >15yrs.


    Ohhh... you need a loan of more than 30L?... then yes, thats the interest rate.
    It should be still be lower than many of the other banks.
    Also, if you are working for a reputed company and it is in their preffered comanied list, you will get additional discount of 0.25%. Check this by visiting their office by contacting the numbers on website.

    In very exceptional cases, they also give additional discounts too. But these are are very rare cases. You may try that too as you have a bigger loan requirement.
    CommentQuote
  • Also check out LIC-HF.
    CommentQuote
  • Rahul, once u finialize the property, ask the sales team if they have anyone from SBI working on that project. There are different guys working on different projects.
    I directly went to the Branch opp. Agricultural College on FC Road....

    Originally Posted by rahultcd
    Hi "NewOne"

    can you plz give contact details of SBI person from whom you have taken the loan ??.. ..
    thanks..
    Rahul
    CommentQuote
  • Originally Posted by newone
    Rahul, once u finialize the property, ask the sales team if they have anyone from SBI working on that project. There are different guys working on different projects.
    I directly went to the Branch opp. Agricultural College on FC Road....


    Samrajya website has contact details for home loan etc..
    CommentQuote
  • Originally Posted by newone
    AVOID IDBI Homefinance at any cost.
    I'd taken a loan from IDBI Homefinance in 2007 and repaid it in 3 yrs. During this time, banks like HDFC reduced the interest rate atleast twice. IDBI didn't. However, the rates were revised again when the rates were increased, and IDBI homefinance implemented those at the first opportunity.
    Once, i wanted to extend my EMI payment date by 10 days, but i was told that i have to give atleast a months notice if i want an extension.
    I'd given them 28 post dated cheques. No one informed me when those cheques got over and i had to pay fine to these guys for late payment. when i asked them why they couldn't inform me that they didnt have any cheques, i was told that it was the customer's responsibility to keep a track of cheques.

    There are many other things which made me decide never to even enter their office again and also warn others from these jerks.

    I recently took a loan from SBI. 8%, 9%, 9% and BR + 2.25% and i was helped in all fields. my main reason to choose sbi was coz i wanted a 25yr term and this was the only bank giving me this....

    Also, there's a bank called Indian Bank (i guess), near aurora towers in camp....they were offering 8.5% RoI when all other banks were offering 11.25% in 2007... unfortunately i came to know abt that bank later..... neways u can try....

    like PCPUNE mentioned, go with small PSU's....

    Good luck !!


    +1 to this. I also have a very bad exp with IHFL. For increaseing ROI they are the first one, but for reducing it many times they are not even last one :-)

    My brother & me borrowed at the same time with same rate. He borrowed from HDFC & I brrowed from IHFL after 2 yrs we had 0.75% diff in our ROIs.

    Also their service, attitude evrything is worse than the worst.
    CommentQuote
  • Guys if you have taken loan from SBI then please advice on following:

    I met with one SBI HLST member, he says property insurance is must 770 per lac for loan tenure, also he claims that this is done via some bank.
    Also the mortgage fees is .2% of loan amount.
    So are these two charges are necessary? If so then amount will some up to arnd 1% of loan amount.
    FYI: I went to swargate branch.
    CommentQuote
  • Hello,

    I recently senctioned a loan from LIC HF. Its 9.25 flat for 5 years. LIC processing fees was only 5000 in begining as compared to HDFC who takes 16,000 in sectioning only.

    On the contrary, the process was easy and the no. of documents were also significently small as compared to HDFC/IDBI who asked me to get various docs signed by my employer which was a pain in ass.

    I gave docs. to those guys on Monday and got senction letter on Thurday
    . Damn, I had to go to their Shivaji nagar branch with file no. to make sure I am not getting fished by agent as everyone seemed sceptical about their processing time and aggresiveness, signed by my employer which was a pain in ass.

    I gave docs. to those guys on Monday and got senction letter on Thurday
    . Damn, I had to go to their Shivaji nagar branch with file no. to make sure I am not getting fished by agent as everyone seemed sceptical about their processing time and aggresiveness,
    CommentQuote
  • Originally Posted by Rishabh_Jain
    Hello,

    I recently senctioned a loan from LIC HF. Its 9.25 flat for 5 years. LIC processing fees was only 5000 in begining as compared to HDFC who takes 16,000 in sectioning only.

    On the contrary, the process was easy and the no. of documents were also significently small as compared to HDFC/IDBI who asked me to get various docs signed by my employer which was a pain in ass.

    I gave docs. to those guys on Monday and got senction letter on Thurday
    . Damn, I had to go to their Shivaji nagar branch with file no. to make sure I am not getting fished by agent as everyone seemed sceptical about their processing time and aggresiveness,

    Hey that nice, but is it that you paid only 5000 Rs (or may be some service tax too) for getting the loan sanctioned? If that is the case then it is the cheapest deal one can get. Cause any other bank one has to pay for insurance, search report, documentation charges and so on which sums up to arnd 1% of total loan figure.

    Hey that nice, but is it that you paid only 5000 Rs (or may be some service tax too) for getting the loan sanctioned? If that is the case then it is the cheapest deal one can get. Cause any other bank one has to pay for insurance, search report, documentation charges and so on which sums up to arnd 1% of total loan figure.

    Hey that nice, but is it that you paid only 5000 Rs (or may be some service tax too) for getting the loan sanctioned? If that is the case then it is the cheapest deal one can get. Cause any other bank one has to pay for insurance, search report, documentation charges and so on which sums up to arnd 1% of total loan figure.

    Hey that nice, but is it that you paid only 5000 Rs (or may be some service tax too) for getting the loan sanctioned? If that is the case then it is the cheapest deal one can get. Cause any other bank one has to pay for insurance, search report, documentation charges and so on which sums up to arnd 1% of total loan figure.
    CommentQuote
  • Saggi, thought this mite just helo u decide..... i paid approx 10,000 to SBI , including Processing fees, valuation charges and advocate search report. even though this amount is more...my ROI is fixed at 8%,9%,9% for 1,2 n 3rd yr....
    so i guess even thogh im spendin a little more initially, i still save a lot in the long run ...


    Originally Posted by saggii
    Hey that nice, but is it that you paid only 5000 Rs (or may be some service tax too) for getting the loan sanctioned? If that is the case then it is the cheapest deal one can get. Cause any other bank one has to pay for insurance, search report, documentation charges and so on which sums up to arnd 1% of total loan figure.
    CommentQuote
  • Originally Posted by newone
    Saggi, thought this mite just helo u decide..... i paid approx 10,000 to SBI , including Processing fees, valuation charges and advocate search report. even though this amount is more...my ROI is fixed at 8%,9%,9% for 1,2 n 3rd yr....
    so i guess even thogh im spendin a little more initially, i still save a lot in the long run ...


    Ya this is the amount that is expected, but question is do you have to pay for any enforced insurance amount?
    CommentQuote