Home loan discussion

Discussion in 'Money Matters' started by smith21181, Feb 1, 2008.

  1. smith21181

    smith21181 Senior IL'ite

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    Hi,

    I am basically from pune ......newly joined this indus ladies forum. I wanted to know more about home loan like which Indian bank provide good Rate Of Interest(ROI),for NRI's or Is there any other hidden charges ,..........etc We r plaing to buy new home in pune. It costs around 60 lacs ,so before bearing such big risk ,I would like to share this matter with all of u ....& also asking for some suggestion which is helpful while purchasing a home .Hope this disscussion will be useful for all indians.


    Thanks in advance.
    smith
     
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  2. Shanvy

    Shanvy IL Hall of Fame

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    Re: Regarding Home loan discussion

    Smith,
    welcome to il.
    We have tried discussing about housing in these threads. the bank fine prints were also discussed in one of these threads..
    check them out and if you still have doubts..you can post them, one of us would try to help you.

    http://www.indusladies.com/forums/general-discussions-india/18930-ec-enough-know-about-property.html
    http://www.indusladies.com/forums/general-discussions-india/15429-before-you-buy-plot-flat.html
    Housing - IndusLadies
     
  3. smith21181

    smith21181 Senior IL'ite

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    Re: Regarding Home loan discussion

    Hi shanvy,

    Thanks for ur reply,but I didn't get information like Which bank is good for getting the home loan. I heard that ICICI bank has some hidden charges,Is it right or wrong?. If u have some info ,plz forward it to me.

    thanks,
    smith
     
  4. padija

    padija Senior IL'ite

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    hi smith,

    you are right, icici does have hidden charges, once they approve your loan, they might ask you to pay some amount for admin fees, it depends upon the loan amount you are approved for. i heard that hdfc is good.
     
    Last edited: Mar 26, 2008
  5. preetho

    preetho New IL'ite

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    hi all,

    im planning to buy a flat and it costs 30 lakhs including registeration.

    I am working in Chennai and the property is in the outskirts of Bangalore - Whitefield.

    i have few doubt regarding home loans and eligiblity.

    Can i get a property in Bangalore, while im in chennai?

    my eligibility limit is only 15 lakhs. can i get home loan from another bank for another 10 lakhs?. is it possible?

    as of now i can invest only 5 lakhs as initial.

    Kindly clarify.
     
  6. sharadha

    sharadha Bronze IL'ite

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    Agreed, HDFC is really good ! A wise idea to have a fixed rate of interest when you are applying for a loan.
     
  7. vkrithika1

    vkrithika1 Gold IL'ite

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    Dear preetho,

    You can always buy a flat in bangalore while staying in chennai.But the only thing is that if the banks in chennai will give loans for other state properties.You just go to SBI and Icici or hdfc home loan section and ask them your doubts.They will guide you in this.You cannot get two loans from two banks because each of them will ask for the complete documents.Find out whether your company has any tieups with any bank so that you can get waiver in adm charges and interest will be .5to 1%less.Sbi,icici, hdfc have tieups with many companies.Interest rates differ between the banks.So you meet 3 or 4 bank people and decide which to select.

    Icici's loan will include registration charges also.You can get more loan.If you are ready to take homeloan insurance they will give even 92%.

    Taking loan from SBI is best.Only if they are sattisfied about the legal issues of the properties ,your loan will get approved.They will ask a big list of docs from the builders.So You will be very safe.

    I will give you some important points to be taken care.

    1.whether the land on which the properties are built are approved by the BDA.If it is not approved,you cannot register the property.

    2 Take a complete report from the advocate.(This is for your safety)

    3.TAke a 13year EC.(Any way banks will ask for this).

    If you have decided to buy kindly give me a pm.I will give you more points because many people lose their properties in bangalore because of the legal issues involved.
     
  8. pammor

    pammor Senior IL'ite

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    Hello to all Home loan seekers,
    If you hav LIC insurence policy then LIC home loan is the best to my knowledge and experiance.There are no hidden charges and the transaction is quick and transparent.
    Pammor.
     
    Last edited: Apr 3, 2008
  9. preetho

    preetho New IL'ite

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    Thanks Krithika....

    I have postponed my plans of buying rite now, bcoz i am going on a onsite trip in another 2 months....So my plans have changed.

    Thanks for your advise. I will always remember them whenever i buy a flat.

    Keep you posted about my purchase
     

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