I am actually very new for taking home loans. I am in procedure of understanding how home loan works on. Recently i came across INDIAN Bank home loan customer, he told me is at indian bank, when the demand letter is being rcvd from builder someone has to go to the bank to collect the cheque against the demand letter. Does anyone have idea, how it works with HDFC. Presently i am USA and in case i take home loan i will have a GPA. Its not possible for him for every installment to go the bank and get the cheque. I tried asking HDFC customer care but they were not very clear abt it. If any HDFC Home Loan customers can help me out it will be really appreciable.
If you go through an agent in obtaining the loan, they would take care of all these. Or if you go through the builder, then they would take care of this. You don't pay anything more other than the bank charges to the agent or builder. Check this out.
Hi, I have recently taken a home loan from HDFC ltd. I appointed my mother as GPA. However, I have not encountered this as the builder's agent collects the cheque from bank once they notify us. Usually builders provide aid in this as they need the money on time. I suggest you arrange with builders so that his agent can collect the cheques.
