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Home Loan : Most Preferred and Advisable Bank

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Home Loan : Most Preferred and Advisable Bank

Last updated: June 16 2016
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  • Home Loan : Most Preferred and Advisable Bank

    I am planning to buy a 3BHK flat, so thinking to go ahead with a home loan worth 75 lakh. I have visited some banks but its really difficult to compare. I checked on online portals like Dialabank, they gave me the lowest rate of interest 9.55% from HDFC bank. Should I go for it or should I visit the branch? Guys, please suggest what to do.
  • #2

    #2

    Re : Home Loan : Most Preferred and Advisable Bank

    Go for SBI...nothing best than that....

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    • #3

      #3

      Re : Home Loan : Most Preferred and Advisable Bank

      Originally posted by ankit12 View Post
      Go for SBI...nothing best than that....
      Second that, they may take some time initially but no hurdles after you are approved.

      Moreover, SBI is the first to act on rate cuts as compared to other banks.
      Last edited June 11 2016, 06:31 AM. Reason: Text formatting.

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      • #4

        #4

        Re : Home Loan : Most Preferred and Advisable Bank

        One more good thing about SBI loan is Daily reducing balance method. Not sure if this is still valid after new benchmark or something which RBI mandated.

        Which Banks Use The Daily Rest Method? | Money Saver India

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        • #5

          #5

          Re : Home Loan : Most Preferred and Advisable Bank

          Sir,
          My suggestion would be to go for the loan. This is most probably the best rate of interest you can get. Though you should check for the hidden charges too. Some banks provide fixed processing fees. I believe HDFC provide processing fees based on the amount of loan.

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          • #6

            #6

            Re : Home Loan : Most Preferred and Advisable Bank

            SBI .. loan processing/documentation is hectic.
            but you will get a big sign of relief afterwords..

            First SBI
            second HDFC
            third LIC
            then the rest will come as per my opinion...

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            • #7

              #7

              Re : Home Loan : Most Preferred and Advisable Bank

              For SBI process is long but you just need for provide documents to Loan agent, and visit SBI branch twice.Loan agent usually gets .25% commission from bank, you don't have to pay anything to him. usually it will take 2 months but it is worth considering you will be paying EMI for next 10-15 years.

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              • #8

                #8

                Re : Home Loan : Most Preferred and Advisable Bank

                Sir,
                If you don't want to go through the hassles of loan processing then you should definitely apply to the HDFC Bank. SBI is good but then they really make your head wobble during the application process.

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