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Home Loan Products

Last updated: February 28 2010
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  • Home Loan Products

    There are many home loan products available in the market. Any idea about which one is good and offers flexibility? I am personally attracted to a product named Max Gain provided by SBI.
  • #2

    #2

    Re : Home Loan Products

    Originally posted by CoolDude View Post
    I am personally attracted to a product named Max Gain provided by SBI.
    Max gain to whom? The buyer or the bank?
    Just make sure that you get home loan insurance & good ROIs. Also check the clauses in case of pre-closure/transfer of loans. More or less, these schemes are marketing gimmicks having lot of strings attached.
    If you are happy, you are successful.

    Comment

    • #3

      #3

      Re : Home Loan Products

      Originally posted by CoolDude View Post
      There are many home loan products available in the market. Any idea about which one is good and offers flexibility? I am personally attracted to a product named Max Gain provided by SBI.
      Maxgain is the best scheme I have seen till date (it just allows to use home loan account as saving account..) but also think twice before accepting the 8% interest rate scheme....

      Comment

      • #4

        #4

        Re : Home Loan Products

        Originally posted by realacres View Post
        Just make sure that you get home loan insurance & good ROIs. Also check the clauses in case of pre-closure/transfer of loans. More or less, these schemes are marketing gimmicks having lot of strings attached.
        Any one has done some work on searching good home loan products? If yes, the pros/cons of the available products can be shared.

        Comment

        • #5

          #5

          Re : Home Loan Products

          Originally posted by amit3011 View Post
          Any one has done some work on searching good home loan products? If yes, the pros/cons of the available products can be shared.
          Not done research on individual basis but personally I feel that BoB is the best.
          If you are happy, you are successful.

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          • #6

            #6

            Re : Home Loan Products

            How about SBI home loan schemes 8% first yr and 8.5 for next 2 yrs?

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            • #7

              #7

              Re : Home Loan Products

              Originally posted by nareshkheda View Post
              How about SBI home loan schemes 8% first yr and 8.5 for next 2 yrs?
              And what about 4th year & onwards? It is like drinking Vodka today & having desi after 3 years (hey, I don't drink). Always think about the loan tenure in totality & corresponding interest you will be paying in total rather than limiting it to just couple of years.
              If you are happy, you are successful.

              Comment

              • #8

                #8

                Re : Home Loan Products

                I will prefer
                LIC
                Prons: PSU, express processing, transperent, excelent document checking
                Cons: 2% penalty for prepayment

                (got sanctioned letter in 5 days and disbursement took 4 days)

                BOB
                Prons: PSU, avg. processing speed, transperent, doc chekcing
                Cons: you need to visit thr office n times

                SBI:
                Prons: good schemes, no processing fee (flat price is thr ), no penalty on prepayment (2% if loan takeover by other financial insti.)
                Cons: I would avoid, though my comp was listed on thr database they told me dat loan sanction will take 20 days to 1 month. God knows abt disbursement time.

                I also checked the loan tenture perspective and found these 3 are best option.
                Last edited December 3 2009, 05:18 PM.

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                • #9

                  #9

                  Re : Home Loan Products

                  Pvt banks easy loan processing and disbursement but no certainity with EMI amount tiil the end of loan tenure. Be with govt banks and become tension free for next 15 or 20 years.SBI is best amongst all.

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                  • #10

                    #10

                    Re : Home Loan Products

                    What happens to your home loan if you die?

                    ]http://www.dnaindia.com/money/report_what-happens-to-your-home-loan-if-you-die_1318577[/URL]
                    If you are happy, you are successful.

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