This is not a question rather a information which i got from ICICI branch executive and my expereince of SBI vs ICICI
I was in need of 16L Loan and applied SBI and ICICI and i am a Software Engineer.Approached both SBI and ICICI.my first preference was SBI maxgain and i visited the branch three times but i dont see any progress.unable to afford/devote more time to SBI i approached ICICI and the loan was granted in two days(I have all my banking,Insurance,Demat relationships with ICICI and its 9 years i have a relationship with them starting from my Bank @ Campus- Students Account)
For housing loans < 30 Lakhs ICICI’s floating rate is 10.5(know sbi is charging 10.25) and the icici processing fee will be 2500 INR flat for loans < 30L – which is way less than SBI’s 4000 INR.
The processing fee part is not published on the websites and i believe this can be bargained or depends on the branch.
At ICICI The additional 0.25% will set me back by 57K over a period of 15 Years when compared to SBI which i need to bare plus i lost the maxgain advantage.
At the end of the day i still feel that i missed a wonderful product like SBI maxgain and if i ever buy a second house i m sure that i will opt for Maxgain 🙂