Hi Ashal ,

I intend to take a home loan for under construction property due to be completed by 2017. Total cost is 68L and intend to take 80% loan.

I contacted SBI & Private banks for loan approvals. All are giving ready approvals but I am confued in SBI & private banks.

1. SBI does offer useful option of  Max gain but applicable only post possession. Is is correct?

2. I cannot afford full EMI as of now, but can pay up to 30-40K p.m. Can I opt for Pre EMI in SBI now & also pay additional from time to time? Or Pre EMI has a locking period?

3. Does SBI being PSU reduces base rate immediately post RBI reduction?

4. In Private banks ( HDFC) there is an option of Tranche EMI which i think I can afford as per amortization sheet shared by sales guy but they do not have Max gain kind of facility. Which is more beneficial Max gain or Tranche EMI?

5. Suppose I opt for HDFC now for benefit of Tranche EMI but later( post possession) switch to SBI  for max gain, Is it possible? Any penalties?

Request to answer

Vishal