Which Home Loan service to go for ?

Q: I have tried checking out many home loan provider to get the best home loan deal. I'm very much confused which one to go for ? Is getting home loan from the builder a better option or banks offering lower interest rate is a better option. So many 3rd party sites are also offering staggering rates are those realistic offers ? suggestion needed.

abhi, Apartment Resident, Bangalore

18th September 2013

Home Loan in Raja Aristos, Bannerghatta Road, Bangalore

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Hi,Before availing any home loans, it is a requisite to understand some essential facts about the home loans. If you opt to buy home loans from housing finance companies, you can get housing finance for a tenure of 15 to 20 years. Before you buy home loans, be sure on the rate of interest at which loan is offered. Always choose home loans at low interest rates. Companies like PNB housing finance limited, Axis bank, ICICI bank, Canara bank and SBI offer home loans at low interest rate.

ameya kadam, Mumbai

17th November 2013

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Thanks a Lot for your valuable points mentioned above... i would strongly follow them... :)

abhi, Apartment Resident, Bangalore

19th September 2013

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Hi Abhi

... I would like to go with Aditya and the points he has mentioned are very important. Moreover, with my experience I would like to add following points.

If the builder make a suggestion for a lender please make sure that you talk with that lender directly. There are many reasons why they making such recommendations.

1) One of the main reason is that Realtor and builders make suggestions because they want to recommend someone reliable.

2) Dealing with a recommended lender is often very important.

3) ***Make sure you do little homework for your self to know the interest rates going on in the market and making sure your loan officer knows you are looking at rates from other financial institutions. You can use that as an advantage to make sure you are getting the best combination of service and lowest rates.

Pratap, Bangalore

19th September 2013

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it is very important to choose the right home loan,as home loans usual tenure will be any where between 15-20 years, several factors are to be quantified, quality of service, relaxations if any delay in installments, miscellaneous charges are to be checked and noted. documentation procedures and feasibly comes into picture as well. my personal experience was quiet mixed as due to several issues i had to hop[ over 2 different banks finally settling with one. MY strong advice would be, inquire multiple institutions before finalizing. hope this suggestions come in handy...

Aditya nk,

18th September 2013

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