Re: Taking Home Loan in ICICI Bank hi all. we are finalising a flat in medavakkam area.. meeting the bank people to talk about laon. which bank is the best? cheapest rates?? plz advice..
Bharathi, though taking loans from public secor is difficult, the reason is you have to actually be eligibile. take the case of some prvate sector, they give you the loan, even without taking into consideration your paying capacity, inflation and things,(not mentioning any names here) and also the transparency is not so good. I would still say public sector is a better choice. and no to the particular bank you have chosen. I assume you are going to take <25, so public sector banks will be giving you at 8% especially state bank will give you at 8% until this month end. anyway i heard idbi is also easy to deal with right now. aparna whom did you finalise. doesn't your dh N' company have subsidized loans??
shanthi kka. we have finalised on getting loan from SBI. indian navy and SBI have a MOU for home loans. we do get some reduced interest reates and no processing fee...
yes aparna, I know that there is something on those lines that is why i asked. all the best. i will not ask the rate of interest in the open forum. i am meeting my banker tomorrow. let me see how it works out for us.
Hi, I am planning to take home loan for 20 lacs. Initially we approached SBI bank but our application got rejected bcoz the house was constructed more than what is in the approval chart. it's a second hand flat. This we came to know when applied in SBI. we have paid 50 % of the amount to the house owner till now thinking that our loan will get sanctioned in SBI (interest is also low here 8%). We can't go back now. we hv crossed half the way. i knew that none of the nationaliesd banks will provide loans in such cases. i don't want to go for private banks bcoz of their hidden charges and high rate of interest. pls tell me what should i do?
Rsam, i don't know if it is in bangalore or here. I always feel these nationalised banks to take that extra caution that goes a long way for the customer. have you discussed this with all the people in the whole of the flats. like how many are aware of this. there are two ways.. 1. getting your unapproved plan approved..if possible. 2. going to a private bank, find out if they will give loans. private banks i liked hdfc better. there is a better transparancy comparatively.
Thank you for the quick reply. Shanvy. The flat is in chennai. We haven't discussed this to other people in the flats. How much is the rate of interest in HDFC for floating?. We had an another option of IDBI bank , comparitively the interest is low here. By the way, the flat is 3 yrs old . only one bedroom is allowed for that flat as per the approval chart. but they have constructed 3 bedrooms. can i get approval for this now?. If so what is the process to be followed?. Thank you once again.
RSam, as per my discussion with a nationalised bank, the rbi new rates have forced a change in the interest rates that are reflecting on most new customers. the sbi offer is till the 31st of this month and is a anniversary offer. rbi has asked the banks to stop these teaser loans. i know upto 20 l floating was at 8.75 in october..in hdfc and the new rates are not yet out. so you can assume 9/9.25. yes i too heard the rates are good in idbi, but not sure about the prepayment penalty coming to the flat, i thought it was a small deviation, but this is a huge blunder, and i am not sure if this can approved. better check out with the whole flat. if not a problem which area and who is the builder... another question, did you not go for a legal opinion before you went for the purchase. did you not check the blue print for the approval seal from the muncipality/ corporation /cmda???
Hi Aparna, Did you use the SBI contact provided by Isha for this? Also, is this project pre-approved by SBI? Thanks, Kartik
Karthik, Check out bob, they have a 0% processing fee upto the 31st and also 0.25% less if you are with a reputed organisation in their list. the interest rates of most banks all in the same plane. upto 30 lacs it is 8.5 floating and 9.5 floating upto 5 years.
