Sorry Friends, I did not read the entire thread as I am running short of time. could you please help me.
I booked a flat in Panvel (Builder is saying it is approved by SBI, even he provided me some APF number).
Now problem is that I am from Pune, when I proceed to SBI Nigdi Pune branch with my home loan application, they told that the propeties is in Panvel, they cann't accept my application.
When I contacted to Panvel branch they are saying that since my office and home address are in Pune, they cann't accept my application.
My project is only approved by SBI till now, so please guide me what to do.
i took home loan from ICICI Bank, as they offered 7.25 and i simply got into the trap.
within 3 months , interest rate touch to 8.25, in another 3 months increase to 9.5.....
and within 2 years it was 13.5......only way to get out of ICICI trap was pre-payment....
Don't get into this trap under name of 'good and fast service'
What service you required after taking home loan from Bank ? 1 home loan certificate / year......
I agree. If your EMIs are getting paid to the lender by ECS/PDC, and assuming loan has been taken under down payment option/loan has been disbursed in full, there is very little service required in the lifetime of the loan. The 2 most important factors then are interest rates and pre-payment charges. Its not that SBI is fair and ICICI is not. Its just that SBI is too lethargic to think of ways to maximise profits. While as borrowers we may enjoy SBI not increasing int.rates and charging less than others, as a SBI shareholder we should hate this.
There is no factual evidence that "people prefer SBI home loan". I have heard that HDFC is perhaps the best if all factors are taken into account.
नई दिल्ली। रिजर्व बैंक द्वारा एसएलआर घटाए जाने के अगले ही दिन देश के सबसे बड़े व्यावसायिक बैंक स्टेट बैंक ऑफ इंडिया ने अपने होम लोन और ऑटो लोन की ब्याज दरों में आधे फीसदी तक की कटौती कर दी है। नई दरें आगामी 7 अगस्त से लागू होंगी।
बैंक के एक वरिष्ठ अधिकारी के अनुसार 30 लाख रुपये तक के होम लोन पर ब्याज दर 10.50 फीसदी से घटाकर 10.25 फीसदी कर दी गई है। इस तरह इसमें 0.25 फीसदी की कटौती की गई है। 30 लाख रुपये से अधिक और 75 लाख रुपये तक के होम लोन की नई दर 10.40 फीसदी होगी, फिलहाल यह 10.75 फीसदी है। स्टेट बैंक की आधार दर 10 फीसदी है।
thanks for the discussion. i am sold on SBI . does any one from hyderabad taken a SBI and wants to recommend his agent to me. plz do so here or with a private message to me.
and thanks for the support.
SBI breather for pre-2010 floating rate home loans
TIMES NEWS NETWORK
Mumbai: State Bank of India, the country’s biggest lender, on Saturday cut its benchmark prime lending rate (BPLR) by 25 basis points (100 basis points = 1%) to 14.5% per annum. This will benefit those who had taken loans on a floating rate before July 2010. The change is effective from September 27.
BPLR was the rate of interest that commercial banks charged their most preferred clients before July 2010. Later, the base rate (the minimum interest rate below which a bank cannot lend) became the benchmark rate.
A back of the envelope calculation shows that a 0.25% reduction on a floating rate home loan of 20-year tenure can reduce the EMI by about Rs 17 for every Rs 1 lakh loan. So if a home owner had taken a Rs 30 lakh loan of 20 years, the monthly savings will work out to Rs 510, translating into an annual savings of about Rs 6,100.
On Tuesday, a day after RBI signalled lower interest rates by cutting the cash reserve ratio by quarter of a percentage point to 4.5%, SBI had cut its base rate by 25 basis points to 9.75% per annum. This reduction made SBI’s base rate the lowest among Indian banks.
After reducing its base rate, the bank’s top officials had said that it was passing on the lower cost of funds to its customers.
SBI’s decision to cut lending rates is expected to put pressure on other banks to follow suit.
SBI has slashed Home loan rates further owing to reduction in base rate. Now the int rate for upto 30 lac is 10% and above 30 lac is 10.15%. By far the lowest by any measure. Documentation is a little tedious but its all worth it saving huge sums
Has anyone taken loan from Indiabulls, how's their service?
Any issues faced?
I've got 02 home loans (UC properties) running through IB, i tried knocking SBI, HDFC & ICICI, but found IB client service the best, although ROI may be slightly higher than peers banks but believe me they're fastest as far my experience.
I didn't have to even visit their office for simply anything, they came one sunday spent few hours at my place to help me collate all documents in the comfort of my living room then all set i got confirmation mail in 7 working days, what more one would expect.
Also, they did negotiate ROI and brought mine almost at par with peer banks.
PS: I managed to get ROI @10.35 for 30Lacs and 10.70 for 85lacs.
I know from rate point of view HDFC is better, but for a long term relationship, which one is better in all aspects?
Go for BOB. Your overall cost of banking (interest+charges) will definitely be much lower over the length of your relationship. While processing documents, you may spend lil more time than HDFC, but this inconvenience translates to a significant financial benefit and is a one time effort only.