Home loan from which bank ?

POSTED BY vij ON July 3, 2012 11:40 pm COMMENTS (8)

Dear Friends,
I need to take the house loan for around Rs 45 Lakh.
Could you please suggest, which would be best bank from the point of view of lowest interest rates, least processing fee and transparency.
Also, which one would be better in the current scenario – floating loan or fixed loan.

Thanks very much in advance

vij

8 replies on this article “Home loan from which bank ?”

  1. vij says:

    Hello All,

    I have enquired from SBI, due to some clauses of them, it looks that it is very difficult to take the loan on the re-sale property.

    Which bank could be the next best option ?

    Please advise

    Thanks very much in advance

  2. vij says:

    Thanks Sylvestor, it is a good suggestion

  3. Sylvestor says:

    reply => repay

  4. vij says:

    Thanks Ashal for the response, i will search for the info about SBI’s Max Gain product.

    In the mean time, one more query about tenure. Is it better to go for longer tenure (20 years) or somewhat shorter tenure (say 15 years) for the loan? Any thoughts?

    Thanks very much in advance

    1. Ram says:

      Pretty simple. If you go for longer one you will end up paying more money. If you can pay , select shorter period.

    2. Dear Vij, the answer for the tenure depends upon the repayment capacity of the borrower. If you can pay EMI easily for 15Y Term, go for it.

      Thanks

      Ashal

      1. Sylvestor says:

        Even if you can reply home loan within 15 yrs, i suggest you go for 20 yrs term but voluntarily prepay 3 emis every year. This will give you some breathing space in case of cash crunch.

  5. Dear Vij, My take is to go with SBI’s Max Gain product. Please search for more details on this product in the forum itself.

    Thanks

    Ashal

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