Quick Answer: Is HDFC Good For Home Loan?

Is HDFC Bank good for home loan?

HDFC offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to SBI with a minimum EMI of ₹ 662 for 30 Years.

Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Home Loan..

How much time will it take for a home loan to get approved by HDFC?

7 working daysWhat Is the HDFC Bank home loan processing time? Once the application is submitted HDFC will take about 3 – 7 working days to run the background verification to approve the loan.

Which SBI home loan is better?

SBI Home Loan Interest Rates 2020SBI Home Loan SchemesInterest Rates for SalariedInterest Rates for Self EmployedSBI Smart Home Top Up Loan (Term Loan)8.50%8.55%SBI Smart Home Top Up Loan (Overdraft)8.55%9.05%Insta Home Top Up Loan8.20%8.20%SBI Earnest Money Deposit (EMD)10.45% onwards–7 more rows•Nov 6, 2020

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,811₹ 50 Lakh₹ 44,245₹ 38,0181 more row

Which bank is offering lowest interest rate on home loan?

Top 10 Banks Lowest Home Loan Interest Rate Nov 2020BankHome Loan RateEMI Per LakhAxis Bank6.90%₹ 659PNB Housing Finance7.90%₹ 727LIC Housing Finance6.90%₹ 659Indiabulls9.25%₹ 8566 more rows

How do I know if my loan is approved?

How do you know when your mortgage loan is approved? Typically, your loan officer will call or email you once your loan is approved. Sometimes, your loan processor will pass along the good news.

How many days does it take to get a home loan?

Consider 1-2 days so you’re not rushing into the sale. Meanwhile, the bank will be preparing the loan offer documents for you to sign. This can take anywhere between 2-7 days! During this time, the lender may ask for updated documents or further documents so be prepared.

Which is Better Home Loan SBI or HDFC?

You should do a comparison of home loan between SBI and HDFC banks….Which is a better bank for Home Loan – SBI or HDFC?CategorySBIHDFCAmount of LoanRs.5 L – Rs.10 CrUp to Rs 10 CrInterest Rate (Annual)6.95% – 7.50%6.95% – 8%1 more row•Aug 31, 2020

Which bank home loan is best?

Best Banks Which Offers Home Loans in IndiaS.NoBank NameMarket Percentage1SBI Home Loan34.00%2HDFC Ltd24.13%3LIC Housing05.83%4ICICI Bank13.10%4 more rows

Is HDFC home loan processing fee refundable?

Customers are requested to refer to www.hdfc.com for the latest charges applicable on prepayments. C. Fee refundable if loan not sanctioned/disbursed Processing Fee paid by the Customer for availing the loan is non-refundable. … HDFC be made the sole beneficiary under the policy / policies.

Is it advisable to transfer home loan from HDFC to SBI?

In this situation it is not advisable to transfer your home loan. But if you have a high floating interest rate, then transferring your loan to a lower interest rate will be beneficial. Most leading banks are now offering interest as low as 8.3% per year.

What is HDFC home loan processing fee?

For salaried individuals and self-employed professionals, HDFC charges 0.50% of the loan amount or Rs. 3,000 whichever is higher as processing fees. As for self-employed non-professionals, HDFC levies processing fees of up to 1.50% of the loan amount or Rs. 4,500, whichever is higher, plus applicable taxes.

How can I reduce my home loan interest rate?

Tips to Reduce Home Loan Interest RateGo for a Shorter Tenure. … Prepayments are a Good Option Too. … Compare Interest Rates Online. … Home loan balance transfer can be an alternative. … Pay more as down payment. … Look for Better Deals. … Increase your EMI.

How can I reduce my home loan interest rate in HDFC?

We offer our existing customer the option to reduce the applicable rate of interest on the loan (by changing the spread or switching between schemes) through our Conversion Facility. You can take advantage of this facility by paying a nominal fee and opt for either reducing your monthly instalment (EMI) or loan tenure.

What is the home loan interest rate in HDFC?

Adjustable Rate Home LoansLoan SlabHome Loan Interest Rates (% p.a.)For Others* (upto 30 Lakhs)7.00 to 7.50For Women* (30.01 Lakhs to 75 Lakhs)7.20 to 7.70For Others* (30.01 Lakhs to 75 Lakhs)7.25 to 7.75For Women* (75.01 Lakhs & Above)7.30 to 7.803 more rows

Which is best SBI or HDFC?

This is despite the fact that SBI’s balance sheet is four times larger than HDFC Bank, has 10 times more customers, and is owned by the government of India….BankMarket capitalisation as of May 4State Bank of India₹1.6 lakh croreHDFC Bank₹5 lakh croreMay 5, 2020

What is current Rplr of HDFC?

16.20%Current PLR rate of HDFC is 16.20%, which the bank fixes periodically based on its internal cost of funds and the current interest rates in the economy. HDFC benchmarks its interest rates for home loan and other loans to PLR rates.

How many times we can take home loan?

The good news is, a borrower can have as many home loans in India as he or she wants, and there is no law barring them from servicing only one home loan at a time. Therefore, if a borrower wants to purchase say 25 properties at a time, he or she can take different home loans for all of them from 25 different lenders.