Standard Chartered Home Loan query

[vamsiarun1988]

Hi Everyone

I am planning to transfer my existing Home loan from ( Punjab & Sind Bank) to Standard Chartered Bank have a few queries on this

1) Standard Chartered Bank is offering for Balance Transfer of this Home Loan with no MODT charges which no other bank is offering in Telanagana as per my research. This saves a lot of amount for me but is the loan without MODT safe ?
2) Any existing members in this community having a Standard Chartered Bank Home loan can you please let me know if there are any hidden charges for EBLR or Repo rate linked loan
3) Agent is offering Home saver option but saw in terms and condition that charges for this will be 1% of Loan outstanding every year but agent communicates that this can be waived off with a call to customer care. Is this true ?

Also please do let me know of any other valuable information on Standard Chartered Bank home loans

 

[D₹V]

Hi Everyone

I am planning to transfer my existing Home loan from ( Punjab & Sind Bank) to Standard Chartered Bank have a few queries on this

1) Standard Chartered Bank is offering for Balance Transfer of this Home Loan with no MODT charges which no other bank is offering in Telanagana as per my research. This saves a lot of amount for me but is the loan without MODT safe ?
2) Any existing members in this community having a Standard Chartered Bank Home loan can you please let me know if there are any hidden charges for EBLR or Repo rate linked loan
3) Agent is offering Home saver option but saw in terms and condition that charges for this will be 1% of Loan outstanding every year but agent communicates that this can be waived off with a call to customer care. Is this true ?

Also please do let me know of any other valuable information on Standard Chartered Bank home loans

@prc1990 @S S V

 

[SSV]

@prc1990 @S S V

No idea about SC home loans

 

[prc1990]

@prc1990 @S S V

No idea about SC 😏.

 

[Desu Sarath]

Please be careful about SC. Everything is not so transparent there, Even small account conversion has to happen through so many process steps and one cannot even know what exactly is the current status. God knows, what will happen if some thing goes wrong for home loan.

 

[Zacobite]

Hi Everyone

I am planning to transfer my existing Home loan from ( Punjab & Sind Bank) to Standard Chartered Bank have a few queries on this

1) Standard Chartered Bank is offering for Balance Transfer of this Home Loan with no MODT charges which no other bank is offering in Telanagana as per my research. This saves a lot of amount for me but is the loan without MODT safe ?
2) Any existing members in this community having a Standard Chartered Bank Home loan can you please let me know if there are any hidden charges for EBLR or Repo rate linked loan
3) Agent is offering Home saver option but saw in terms and condition that charges for this will be 1% of Loan outstanding every year but agent communicates that this can be waived off with a call to customer care. Is this true ?

Also please do let me know of any other valuable information on Standard Chartered Bank home loans

SCB is a good bank.. keep all docs clear.. MODT is more for the bank than for you.. Agreement is enough.. MODT will be done by them i guess.. it is an rbi norm.. Homesaver will be at a premium % to normal HL.. so only if you plan to have significant account balance kept in that account go for normal loan.. Also their service is better than others.. You can walk into a branch for service if reqd.

 

[vamsiarun1988]

SCB is a good bank.. keep all docs clear.. MODT is more for the bank than for you.. Agreement is enough.. MODT will be done by them i guess.. it is an rbi norm.. Homesaver will be at a premium % to normal HL.. so only if you plan to have significant account balance kept in that account go for normal loan.. Also their service is better than others.. You can walk into a branch for service if reqd.

Thank you for the information