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Guidance needed: Housing loan of 1 Crore in Hyderabad

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Hello Everyone,

I am going to apply for a 1 Crore housing loan in a month time for 30 yrs term. So, i wanted to know...

which bank/Institution gives best interest rate?
Floating Rate or Fixed rate?
Any Govt. subsidies to apply?
How to negotiate/ any tricks for a best Interest rate?
Possibility of paying bulk amounts later?
and any more points you can comment for my benefit


I am from Hyderabad and selected a flat in High rise Gated community. It is a resale flat, not buying from the developer. It is still under construction and builder forecasting to hand it over by Aug 2025. Currently, My Cibil is 786.
 
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Enthusiast said:
Hello Everyone,

I am going to apply for a 1 Crore housing loan in a month time for 30 yrs term. So, i wanted to know...

which bank/Institution gives best interest rate?
Floating Rate or Fixed rate?
Any Govt. subsidies to apply?
How to negotiate/ any tricks for a best Interest rate?
Possibility of paying bulk amounts later?
and any more points you can comment for my benefit


I am from Hyderabad and selected a flat in High rise Gated community. It is a resale flat, not buying from the developer. It is still under construction and builder forecasting to hand it over by Aug 2025. Currently, My Cibil is 786.
Click to expand...
So u will be technically paying 2 cr in 25-30 year .
All major banks will give you loan

How to save :-
You are ofcourse will take floating interest rate

Few important thing to keep in mind

Bank matters why !
1 - check ease of pre -payment
2- penalty in pre payment


Since value is so high
How much u have saved !
How much u can save in a year for pre payment in next 10 year

Suppose if u get 9% in sbi with easy pre payment and no penalty or less penalty

Vs you get 8.7 or 8.5 on hdfc with very difficult way to pre - pay etc etc
And more penalty on pre payment.

U choose sbi over hdfc

Because u gonna save more via pre payment..Less via interest rate

More to remember you get loan rate revised with rbi rate changes...


Don't take fixed rate no matter how lucrative it seems


For more query ask or just DM ..


Thread 'Home Loan Basics ( How to save on home loan and Taxes )' https://www.technofino.in/community...ics-how-to-save-on-home-loan-and-taxes.25696/
 
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Enthusiast said:
Hello Everyone,

I am going to apply for a 1 Crore housing loan in a month time for 30 yrs term. So, i wanted to know...

which bank/Institution gives best interest rate?
Floating Rate or Fixed rate?
Any Govt. subsidies to apply?
How to negotiate/ any tricks for a best Interest rate?
Possibility of paying bulk amounts later?
and any more points you can comment for my benefit


I am from Hyderabad and selected a flat in High rise Gated community. It is a resale flat, not buying from the developer. It is still under construction and builder forecasting to hand it over by Aug 2025. Currently, My Cibil is 786.
Click to expand...
Had lot of stress in the last one week time... I am not getting Home loan as it is a resale flat from the Investor (who bought it in pre offer time). Developer is not ready to give agreement/Work status to the banks as he will be loosing a potential customer. One can get loan only after project handed over to the owners. I checked with SBI, AXIS, HDFC, IndusInd, Canara and LIC too..

I am having only 2 options now:

1) To pay the entire amount in Online & Cash form or
2) To take Personal loan and get it registered and take Mortgage loan

I dont want to opt for any above option...

Is there any way to get Home loan in these cases?? Any private Bank/Financial Institution will offer.....
 
Upvote 0 Downvote
Enthusiast said:
Had lot of stress in the last one week time... I am not getting Home loan as it is a resale flat from the Investor (who bought it in pre offer time). Developer is not ready to give agreement/Work status to the banks as he will be loosing a potential customer. One can get loan only after project handed over to the owners. I checked with SBI, AXIS, HDFC, IndusInd, Canara and LIC too..

I am having only 2 options now:

1) To pay the entire amount in Online & Cash form or
2) To take Personal loan and get it registered and take Mortgage loan

I dont want to opt for any above option...

Is there any way to get Home loan in these cases?? Any private Bank/Financial Institution will offer.....
Click to expand...
Check with Bajaj finance once.
 
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Enthusiast said:
Had lot of stress in the last one week time... I am not getting Home loan as it is a resale flat from the Investor (who bought it in pre offer time). Developer is not ready to give agreement/Work status to the banks as he will be loosing a potential customer. One can get loan only after project handed over to the owners. I checked with SBI, AXIS, HDFC, IndusInd, Canara and LIC too..

I am having only 2 options now:

1) To pay the entire amount in Online & Cash form or
2) To take Personal loan and get it registered and take Mortgage loan

I dont want to opt for any above option...

Is there any way to get Home loan in these cases?? Any private Bank/Financial Institution will offer.....
Click to expand...
this is for your own good.. u r rushing... look at other property or wait.. you will never be able to get a loan as the NOC has to be given by builder for the loan..And why r u stressed.. u are paying the miney.. so chill.. dont run blindly.. will lead to more stress.. u haven't paid anything i hope.. so no need for stress
 
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Enthusiast said:
Had lot of stress in the last one week time... I am not getting Home loan as it is a resale flat from the Investor (who bought it in pre offer time). Developer is not ready to give agreement/Work status to the banks as he will be loosing a potential customer. One can get loan only after project handed over to the owners. I checked with SBI, AXIS, HDFC, IndusInd, Canara and LIC too..

I am having only 2 options now:

1) To pay the entire amount in Online & Cash form or
2) To take Personal loan and get it registered and take Mortgage loan

I dont want to opt for any above option...

Is there any way to get Home loan in these cases?? Any private Bank/Financial Institution will offer.....
Click to expand...
These things takes time you need not to rush & make decisions in jiffy
Do you even know how much difference is 9 % home loan and
12-15% personal loan

Get another property . There are so many

Sometimes we get too much in process forget about end result ..
 
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