I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS for housing loan of 25 lakhs in india. I am applying for housing loan of Rs 25 lakhs. But i feel it is very difficult to get loan from SBI or Canara bank. Since there are lot of formalities in this public sector banks like guarantor etc. And also they are not ready to pay more than Rs 20 lakh for me. But Private banks like ICICI, HDFC, AXIS bank are ready to sanction Rs 25 lakhs housing loan for me. I have seen a good flat which costs around 30 lakh in Bangalore. So I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS. How is this banks process when PLR is increased or decresed. How frequently this banks increases Floating rate of interest. Thanks,
HDFC is best option in your three choices. Don't opt ICICI bank as you are not guaranteed to get back your original sale deed after full repayment of loan. A person in Chennai has filed case against ICICI bank in consumer court for the return of original sale deed.
Insurance cover for Home Loan - Suggestion need?
I'm looking Insurance cover for my Home Loan with HDFC bank. I took this loan two year ago and don't have Insurance cover yet. I aware that HDFC does provides Insurance cover for home loan products but I want to buy suitable and relatively cheaper Insurance cover. Please suggest me, Institutions offering home loan insurance cover in India with their contact details. I have Rs. 1700000 still left over as outstanding and I want to cover this full amount for insurance cover.
In fact there is nothing like insurance cover for home loan. The basic objective to cover home loan is to make a financial provision so that the liability arising out of default due to death is compensated out of the sum assured on the life of the person on whose name loan has been taken.In your case desired sum assured will be 17 lacs. If you are young say 30-35 years of age, you can get pure term insurance matching the term of the loan,premium for which will be around 5500-6000 per annum.All insurers offer this type of plans.You should be young and a healthy person in order to get this large sum assured. Pl do consult a reputed advisor of any life insurance company.
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