Among these banks which is good for home loans
Bank of Maharashtra and hdfc. Things like convenience, part payment..
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Sbi any day. Currently my interest is 7.25%.
No charges on prepayment , i pay monthly extra without any issues.
Taking loan was super easy, sbi guy came home and took all docs. Had to go once, to sign the papers.
Post that disbursement was through emails. Would send an email and inform my guy that i want money.
Only negative thing is the tenure doesnt reduce in the app, although in the backend it reduces with extra emis, prepayment and with reduction in interest rate. You need to follow online calculator to check for the remaining tenure
In case prepayment is there any option of reducing EMI instead of tenure. I would like a loan where my prepayment keep reducing.
Go for sbi only. Hdfc is not good because for any part payment u have to visit branch. On sbi u can do any time online payment.
No, you can raise query online to generate link for prepayment and also mention whether to reduce tenure or emi. No need to visit branch
But in HDFC they will generate a link monthly based on mail communication from your side. Also, you cant pay any amount less than monthly emi as part payment, which makes it cumbersome and bottleneck combo together
For home loan prepayment rules are same as enforced by govt. Get the one with lowest interest rate.
BoB , SBI
What's the avg interest at these banks?
Problems with SBI and BOB you have to register for full amount in saledeed which make the tax paid higher But services are better in sbi and bob compared to any other banks especial prepayment and amortization schedules can be fetched easily at bob
Hdfc 7.15
