Hi,
Thank you for the information on different home loan products.
After reading the different treads i changed my mind to obtain HL from SBI.
Can you please clear me the following doubts.
1. Is there any difference in interest rate between MAX GAIN and regular home loan products?
2. MY branch manager is not so happy to open a MAX GAIN home loan, quoiting there are some technical problem in handling the product.
3. Can we bargain in SBI to reduce the processing fees and some thing like that?
4. I have a credit score of 780(I have no existing loan) , will it be helpful to negotiate the terms, If please provide me the subject on which i can start negotiating.
5. My manager is charging ~20000 for MOD(Memorandum Of Document), can you help me in understanding MOD.
6. They quoted ~7000 for my loan insurance of 30L for a term of 5YRS, which should be renewed after 5yrs till closure of loan. Instead of obtaining the insurance from SBI can i obtain a Term Insurance for 1Cr and allocate 30% to Loan Account? Personally i have very less insurance(Rs.5L only, But i have no dependents, as my spouse is also working, no kids)
In SBI MAX GAIN can we prepay the loan? If possible, is there any limit for prepayment?
Thanks in advance for you patience and time.