Home loan is designed to help you acquire the dream home you wished to buy. Home Loan is finalized by individuals after thinking about the home loan interest. HDFC Home Loans or SBI Home Loans or any other home loan from any bank is taken for purchase or construction of a new house/flat, Purchase an existing (elderly) house/flat, Extension, repair, renovation or modification of a house/flat or purchase a plot meant for construction of a dwelling unit. The Home loan interest differs from banks to banks also depends on factors like loan amount, tenure, type of home loan rates (fixed home loan rate or floating home loan rate) etc. Also to get HDFC Home Loans or SBI Home Loans or any other bank’s home loan there is positive eligibility criteria. Also there's factors like repayment capacity, age, educational qualification, stability & continuity of income, number of dependents, co-applicant income, assets, liabilities, saving habits & more.
With home loan rates thought about let’s compare five banks with regards to home loan, as SBI home loans & HDFC home loans.
SBI Home Loans come to you on the solid foundation of trust & transparency built in the custom of State Bank of India. SBI Home Loan – For Loan amount upto Rs. 30 Lacs…. (w.e.f. 01.July.2009)
• SBI Home Loan or Home loan rate in the work of the first year (i.e. till first anniversary date from the date of first disbursement) is fixed at 8% p.a.
• SBI Home Loan or Home Loan rate in the work of next five years is fixed at 8.5% p. a.
• SBI Home Loan or Home Loan rate after five years may be Fixed or Floating as per the borrower’s choice made at the time of sanction. If floating home loan rate option is selected, then the home loan rates will be 2.75% below SBAR (State Bank Advance Rate). If fixed home loan rate option is selected, then the home loan rates will be 1.25% below SBAR prevailing on the third anniversary date from the date of first disbursement of SBI home loan & shall have a reset frequency of 5 years from the third anniversary date of the SBI home loan. Fixed interest shall be subject to force-majeure clause.
• For SBI home Loan amount above 30 lacs SBI Home Loan rates is fixed at 8% p.a. & 9% p.a. for first & second years of taking the SBI Home Loan, respectively & for third year if floating home loan rates option is selected, then the home loan rate will be 1.75% below SBAR . If fixed home loan rate option is selected, then the home loan rate will be 0.75% below SBAR.
HDFC Home Loans
HDFC’s aim, from the beginning, has been to enhance residential housing stock & promote home possession by way of HDFC Home loans.
HDFC home loans or floating home loan rates for new customers are
• 9.75 percent for HDFC home loans up to Rs 30 lakhs.
• 10.75 percent for HDFC home loans over 30 lakhs.
The Home loan interest is important in determining the uptake of this home loan by the masses. The home loan interest has come down allowing lots of individuals to make the leap. According measures are taken by government & also other financial institutions including banks to further reduce the home loan interest thus encouraging increasingly people to take home loan. From the above table it is seen that both the banks HDFC bank & SBI bank offer similar home loan interest with regards to HDFC Home Loans & SBI Home Loans .Some banks also try to gain more customers by prompting incentives in the way, waive off the charges for processing & documentation, for positive section of housing finance loans.
By: Rashid
With home loan rates thought about let’s compare five banks with regards to home loan, as SBI home loans & HDFC home loans.
SBI Home Loans come to you on the solid foundation of trust & transparency built in the custom of State Bank of India. SBI Home Loan – For Loan amount upto Rs. 30 Lacs…. (w.e.f. 01.July.2009)
• SBI Home Loan or Home loan rate in the work of the first year (i.e. till first anniversary date from the date of first disbursement) is fixed at 8% p.a.
• SBI Home Loan or Home Loan rate in the work of next five years is fixed at 8.5% p. a.
• SBI Home Loan or Home Loan rate after five years may be Fixed or Floating as per the borrower’s choice made at the time of sanction. If floating home loan rate option is selected, then the home loan rates will be 2.75% below SBAR (State Bank Advance Rate). If fixed home loan rate option is selected, then the home loan rates will be 1.25% below SBAR prevailing on the third anniversary date from the date of first disbursement of SBI home loan & shall have a reset frequency of 5 years from the third anniversary date of the SBI home loan. Fixed interest shall be subject to force-majeure clause.
• For SBI home Loan amount above 30 lacs SBI Home Loan rates is fixed at 8% p.a. & 9% p.a. for first & second years of taking the SBI Home Loan, respectively & for third year if floating home loan rates option is selected, then the home loan rate will be 1.75% below SBAR . If fixed home loan rate option is selected, then the home loan rate will be 0.75% below SBAR.
HDFC Home Loans
HDFC’s aim, from the beginning, has been to enhance residential housing stock & promote home possession by way of HDFC Home loans.
HDFC home loans or floating home loan rates for new customers are
• 9.75 percent for HDFC home loans up to Rs 30 lakhs.
• 10.75 percent for HDFC home loans over 30 lakhs.
The Home loan interest is important in determining the uptake of this home loan by the masses. The home loan interest has come down allowing lots of individuals to make the leap. According measures are taken by government & also other financial institutions including banks to further reduce the home loan interest thus encouraging increasingly people to take home loan. From the above table it is seen that both the banks HDFC bank & SBI bank offer similar home loan interest with regards to HDFC Home Loans & SBI Home Loans .Some banks also try to gain more customers by prompting incentives in the way, waive off the charges for processing & documentation, for positive section of housing finance loans.
By: Rashid
No comments:
Post a Comment