which is better for home loan

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which is better for home loan

Nowadays almost each and every bank offers housing loan for people. Do you think that banks are earning money by providing housing loan and also advise which bank is good for taking housing loans.

vinodh

Category: General Reference 10 years ago

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Sandhya Rani · Answer 1 · 2014-11-09 16:34:00

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A few things I have added above....

Let me add, I am not sure which bank is better for home loan. To build our dream home is the first advantage. Also home loans give us better tax benefits.....as long as loan is alive...may be 10 or 20 years, as per user's preference.....

Answered 10 years ago

Thanks for the details about the loan approving process in Private banks. It's a new information for me that private banks too requires more documents. - vinodh - 10 years ago

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Sandhya Rani

usha manohar · Answer 2 · 2014-11-10 05:23:29

SBI and HDFC are two of the best you have here now....As regards documents, you have to give all relevant documents which in my opinion is a good thing because you too know that the house you are buying meets all the standards.In fact, buyers get impressed when you are able to procure loan from a well established bank, sppecifically because of this. They know that you will not get a housing loan unless your documents are correct.In a transparent sale this should be no problem at all.

suni51 · Answer 3 · 2014-11-11 04:46:09

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All banks are equally good at providing you home loans provided you fulfill their requirements. Private banks are better as they act fast and have better professionals working for them. That is the magic of private sector.

Answered 10 years ago

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suni51

Mousumi Ghosh · Answer 4 · 2014-11-09 07:21:40

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LIC housing finance, Bank of Baroda are two good options. It is always advisable take housing finance from nationalized banks or semi-govt banks.

Answered 10 years ago

	I agree with you but, govt banks always requires tomany documents and the loan approval process is always slow. - vinodh - 10 years ago
	My answer is based on people who have easily got loans. Nationalised or semi-govt banks do a thorough checking of the property before giving out loan. - Mousumi Ghosh - 10 years ago
	But, How the private banks provide loans with normal documents and also faster in approving. Did govt bank is completely differ from Private banks!? - vinodh - 10 years ago
	@Vinodh and Mousumi... Private banks too check all documents before giving all forms of loans. It is a misconception that private banks don't check documents properly. My hubby is working as Branch Manager of HDFC Bank and he used to tell me about the procedures needed to get a loan approved in his bank, home loan, vehicle loan, gold loan or anything else. In fact he says, private banks are more serious in checking documents than government banks, as they are more profit oriented. But the main advantage/difference is that private banks are user friendly and less processing time. They will even fill all the forms for you.... You just need to sign papers....But from nationalized banks, to get loans 'bahut chakkar kaatna padta hai'...haha. I am not sure, nationalized banks provide less interest rates from private banks - it's the main advantage..... Let me add, 2 years back we made a home loan from HDFC bank, his branch. The team scrutinized the whole documents properly that, we were able to correct a mistake/rectify an error that has been passing over in that particular property since 1970s. It could have resulted in a legal claim later, from the lender's relative. It's also an advantage of home loans.....they will check all legal documents properly and we remain tension-free about any legal claims later.... - Sandhya Rani - 10 years ago
	I totally agree with you Sandhya. Any bank would do a thorough investigation before lending a big amount as house loans...but only when I have a first hand exp I would be in a better position to answer. But i believe you have nicely out the answer across for us. Thanks! :) - Mousumi Ghosh - 10 years ago
	Welcome.... - Sandhya Rani - 10 years ago

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Mousumi Ghosh

Peeush Trikha · Answer 5 · 2014-12-02 08:54:50

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In private banks, AXIS bank seems to be a good choice.

Answered 10 years ago

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Peeush Trikha

Sheetal Kumar N · Answer 6 · 2018-03-31 20:16:03

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I feel SBI would be the best choice.

Answered 7 years ago

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Sheetal Kumar N

anil · Answer 7 · 2016-03-27 12:28:34

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Banks are not working for charity, so nothing wrong if they are earning by providing house loans. flexi interest rates are best one option at this time for house loan.

Answered 9 years ago

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anil

Senthil kumar P · Answer 8 · 2014-12-28 05:27:17

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Never choose AXIS Bank. It is worst in customer service especially giving a home loan. I think LIC housing Loan and HDFC Bank are the best choice for home loan.

Answered 10 years ago

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Senthil kumar P

vaishnavi · Answer 9 · 2016-05-01 16:16:19

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nowadays, HDFC is right choice for specially home loan.

Answered 9 years ago

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vaishnavi

rambabu · Answer 10 · 2015-04-22 14:08:49

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Now, after the reduction of interest rates, I found HDFC is the right choice for Home loans.

Answered 10 years ago

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rambabu

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which is better for home loan

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