My need and plan: I want to take a loan of 16 lakhs for a period of 20 years which i m hopeful of completing in 10 years by making pre-payements. I have shortlisted ICICI HFC and AXIS bank.
ICICI HFC : Base rate 9.5%. Markup 0.5% rate. Processing fee is RS 5000(i negotiated). 1% cashback scheme.
AXIS : Base rate 10%. Markup 0.25%. Processing fee is Rs 8000. last 12 EMI waiver plan( i know all the tecnicality about this plan n i know i wont be eligible since i am planning to complete my loan in 10 years).
What is confusing me that ICICI HFC being a HFC should follow BPLR system then why in their website its mentioned they have mentioned base rate system. Please advise. Also which one is a better option to avail home loan from ? Please help.