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HNI accounts against Home Loan
- Thread starter Satish
- Start date
yes you can get grande savings accoiunt if your home loan is 1.5 crs not pioneer had a word with them.
But try negotiating with the BM at quarter of year ends as he will have the need to complete targets.
Also icici may give wealth management, don't know about axis burgundy
i am currently doing a bt from icici to indusind on my home loan and I am negotiated for Grande 0 mab even though my home loan isn't 1.5 crs and also I haver pinaccle first year paid which I am trying to upgrade it to indulge ltf or fyf if possible.
what's the interest rate? I'm also looking to take a home loan, unable to decide upon the bank.
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Currently with Icici it is at 9.4
I got a sanction letter from hdfc for 8.5
I used that to arm twist indusind and get it at 8.25
8.25 is ridiculously low, congrats! Lowest I am getting is 8.4 from HDFC, but apprehensive about proceeding with them, they don't have a good reputation in terms of home loans. Will try negotiating with Indusind.
It differs from city to city and property to property.
Hdfc was very fast in terms if valuing the property,just look out for the tncs mentioned.
Also I am getting 8.25 on a BT not a new home loan
New home loans will be priced a bit higher.
But balance transfer is literally stealing business legally so if you Arm twist them enough they might agree.
Results may vary from branch to branch.
No harm in trying
the city is mumbai and you need to negotiate hard with the bm for a reduction because the employees have a threshold limit below which they cannot go.
so based on your negotiation they may or may not go lower/
i haven't seen the letter yet as we just had a verbal agreement and i will be receiving the letter in 2-3 days.
but i guess they will charge a non refundable processing fee cibil enquiry fee and rubbish charges like that
8.25 is amazing.
I have with IndusInd and moving to HSBC with 8.35 % with BT.
thats great usually bt they agree to lower rates because it becomes your base rate. for existing home loans they are hesitant because they don't want to lose money.
now that hsbc is giving 8.35 take that sanction letter and go to any other private bank and arm twist them for 8
if they agree you win otherwise no loss
8.3-8.35 is already great ROI.
Banks reducing their spread further from 1.85 from your case maybe difficult, but may do depending on loan amount and tenure left.
I have with IndusInd and moving to HSBC with 8.35 % with BT.
Will
Should get that sanction letter in a day or two.
Axis guys straight away refused to go below 8.5. Hdfc also got upto 8.35.
Will see once I get the sanction letter how far can I go.
Will surely try that.
Should get that sanction letter in a day or two.
Axis guys straight away refused to go below 8.5. Hdfc also got upto 8.35.
Will see once I get the sanction letter how far can I go.
Please help with these questions...
1. How is the interest rate movements in IndusInd. Do they move you to a lower rate automatically (when RBI changes rates) or do you have to followup with them regularly for rate corrections? - do they charge you for rate change requests (if manual)?
2. What is the current rate in IndusInd and the cycle for rate change (monthly, quarterly, yearly)?
3. Is HSBC offering any special offers like LTF card, better savings account status etc. when you migrate?
4. Any additional charges (stamp duty, processing, legal) with HSBC
5. What's the approx loan amount (original), current outstanding and the tenure at IndusInd
Please help in answering the questions above. Especially question 5, since I'm also considering a dialog with IndusInd if they can offer better rates
1. It’s a very very recent loan so can’t say about rate movements.
2. 8.7%.
3. HSBC premier account if loan amount >1.15cr, premier cc LTF
4. No processing or legal charges, Need to take insurance, stamp paper charges but very less.
5. 10yrs duration, less than 6 months old, that amount will give me premier with HSBC
1.The interest rates are linked to repo rate.
According to the movement of rbi rates so will our home loans rate change.
Usually rate hikes are fast and rate cuts are slower.
I will be transferring to indusind but with icici rate cuts during covid were done in accordance with the market but employees usually try to slow down the service requests as expected.
2.Rates in Any bank will shift in accordance with rbi rates if it is rplr.
If it is mclr which usually isn't then review of rates would happen in accordance to mentioned in the agreement.
3.I would suggest you bank with HSBC if you live in a tier 1 city because even in a city like mumbai there aren't 20 branches imagine how it might be in tier 2 and below.
4.There are non refundable processing fees which every bank charges you can confirm it with the employee.
I’m based in Delhi, and HSBC is just adjacent to my work place.
So it works well for me.
I took in mail from them regarding charges.
HSBC premier would make you premier anywhere in world where HSBC operates. May help me in opening US account zero balance.
So it works well for me.
I took in mail from them regarding charges.
HSBC premier would make you premier anywhere in world where HSBC operates. May help me in opening US account zero balance.
