Not sure if folks know thi but you can actually call up your bank and negotiate a better interest rate if you have a good credit score. I got mine down from 9.2 to 8.45 with HDFC.

Oh wow what were your talking points? My credit score has improved since I took the loan but is there anything else that will help strong arm them into lowering it?

Software Engineer

Just tell them that your competitors are giving me 8.45% , match it else you'll switch. Also, keep track of Monetary policy that's when these banks increase/decrease rates. While increasing they'll match based on RBI guidelines, but while decreasing NBFC / Bank game the system by not passing on the benefits. I usually do it once every 6 months

Consultant

Product Manager

Same boat as me. Any thoughts on transferring it soon or just wait & watch?

I m jst wait, as I blv sbi home loan rate will be low in long run then why to pay processing and mortgage charge now

Associate

Founder

Can someone provide some advice on what’s a good rate these days and what’s not good?

Analyst

Enterprise

Any thoughts on choosing floater rates rather than fixed ?

This is not a discussion. Always choose floater. Fixed rates come with prepayment penalty. Not worth it

Product Marketing Manager

This is a stupid advice. Imagine having floater rates when interesting rates are climbing up.

LICHFL offering 8.45-8.65% for new customers currently. Processing fee is ₹5k for some predefined companies. Tech M is one such company.

Senior Product Manager

Investor

Welcome to Personal Finance's Private Community

People with home loans comment your current interest rate

People with home loans comment your current interest rate- Grapevine

Hey all! Quick question – who here has a housing loan and what are your interest rates? I got mine during COVID at a decent 7.4%, but now it's up to 10.52%. 😵 That's quite a hike, especially when I look at what other banks are offering. I'm thinking about switching. Anyone else gone through this or have any advice?


PS: I did ask my bank to cut me some slack, and they dropped it from 11.10% to 10.42% once. But now, it's crept back up to 10.52%. Would love to hear your thoughts or if you've dealt with something similar!

Housing Loan Rates Got Me Thinking 🤔

I recently came across one of the videos on YouTube that talked about Loans against mutual funds.- https://www.youtube.com/watch?v=lK7KuMzRm8U&t=3s 

Overall this product looks very convincing & it is so true that people sell their mutual funds when they require funds to make a downpayment on a House/Car.

The ROI is so low & this is an Overdraft, so no foreclosure fees for this loan & the best part? The process is super smooth of few platforms like Volt Money.

I am convinced that it's a good product & want to avail for some personal reason.

Want to check if anyone has used this & they are also positive about loans against mutual funds?

Has anyone availed Loans against mutual funds?

Category Manager

Folks who bought real estate in Bangalore (primarily for living in it), what are some things that you wish you knew earlier before buying the property?
Also what are some things you would advise to new folks who are looking to buy property now?

I’ve been looking to buy a flat and have mostly finalised on A+ builder(Prestige) society but wanted to hear from experienced folks once. 
And I’m not a huge fan of taking hefty loans so planning to do around 50% in down payment and 50% in loan which I will aim to finish within 5 years. Is this a good approach??

Bangalore Real Estate

Software Developer

I've got a package around 40 LPA with 4 yrs exp, with 1.8L as take home

Now, my parents are looking to buy a house at my home town (tier 2 city). It costs around 65L, so have to a loan of around 50L which will be around 65k EMI every month for the next 10 years

Also I'm passionate about working on side projects doing some part time gigs, share around 40k to my family for their needs. This house loan will have a burden on me for sure, do you think it's the right decision to take home now or maybe postpone it to later?

Is House Loan better early in your career?

Senior Data Engineer

I stay with my parents in a tier 2 town. We have a 800 sq. ft house which is more than 100 yrs old. We are really scared of living in this home as it is fully damaged. 

Yesterday one incident happened one of the walls got demolished. Fortunately we were not there at that time. 

For the past few yrs, We wanted to reconstruct our home from base, but the total cost is around 20 lakh. 

I have been working for the past 2 yrs but hardly able to collect 3 lakh as I spent most of the money by giving it to my father during my sister's marriage.

Guys, can anyone suggest 🙏🙏 there is any source or platform from where I can raise funds. We need to raise around 14 lakh.

Guys need your valuable opinion!

I am a salaried and I have a personal loan emi of 23000 and the loan is pending for 2 more years.

I have an option to close this by paying the complete amount now which would be around 5.5 lakh.

Should I try and close loan first or allow the emi to continue and invest the remaining investable money from the salary ? Or any other suggestions

What would you be doing ?

Data engineer

What if I complete the home loan in next 5 years and then put that property as collateral, will my next loan have less interest?

Home Loan

Strategy & Operations

Im earning 1lakh per month in hand and I would like to buy a 3bhk flat worth 1.15cr in Hinjewadi near Pune this year.

Sharks pls guide in detail 

Also which home loans would be beneficial in long run

Feel free to DM.Ultimately your inputs as IT guys would be really beneficial.

Thanks

How much Home loan should I take?

Technical Lead

I have avoided SBI always in the past. Even few days back, someone here on GV bashed SBI when he had to wait 3hr for account opening. But the prospect of being defrauded and shortchanged for loans, with random charges added and preclosure being a pain, I am dreading to interact with Private banks and NBFC's.

I haven't had the experience of servicing home loans/personal loans with HDFCs or other banks yet. But I was planning on getting a personal loan this month and HDFC is offering very competitive rate of 11%.

Do you guys have any reviews on their service whenever you have needed something adhoc?

Deposits and Credit cards from HDFC, but borrow only from SBI

Investment Manager

Alert: a rant post

Today I saw my payslip after a long time and WTH! I don't know what they'll take once bonus comes in. Paying this much for no water, bad air, corrupt babus and all those douche things.

As much as patriotic I am, this is just insane. On top of this add all the GST and sheet ton of other indirect taxes.

Living in India and paying like Europe. Wow!

Duck the government

Earning around 50 lpa at 24 is already a great feat. Still if u want to look at the dark side, nobody can help. This rant is more common than diabetes. Yet people will stress about same thing and rant to destress. Endless cycle. Either do something about it or bring some new perspective. P.S. I am in alignment with ur rant but I’ve made peace with the state of affairs as I am not looking to move out of India and I cannot strong arm govt. individually to change this.

Hi all,
Has anyone of you recently taken a home loan from PNB with the Max saver facility? Is it useful?
Or loan from any other bank then please give your inputs.
Thanks much

People with home loans comment your current interest rate

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