Is it advisable to transfer Home loan from one bank to another bank?

I've taken home loan from HDFC bank and for which I've been paying EMI for last 15 months. Now I want to transfer the outstanding amount to Indian bank which is giving Home loan at the rate of 9.5 % flexible. My current rate of intrest in HDFC is 11.25 % flexible.

if you are saving money, which you say you are by almost 2%, then yes. You must keep in mind all of the fees that come along with it. You must also figure (if applicable) any penalties for early payment. Figure how long you will be there to break even on the whole thing. And of course see if you are saving monthly.

Should I transfer my home loan from HDFC to IDBI?

Hi Pans, Standard Chartered Bank is offering an 9.5%* Int on Balance Transfer for Home Loan in Bangalore.

Which HOME Loan is Best LIC/HDFC?

I have pre approve letter of 2 Home loan bank LIC & HDFC. LIC Rate of Interest Rate : 8.25 (may be increase after 3 month) HDFC Rate of Interest Rate : 9.25 (Factor -4.50 Given in Letter) Now I am confuse please help me to choose
always govt is better than private in financial matters. prefer LIC

ICICI HDFC bank home loan

Banks are giving benefits of reduced home loan interest rates to the new customers. What will happen to the existing customer who already took loans at higher rates & still paying a handsome amount to these private sector banks. What are the benefits of balance transfer to nationalized bank. What is the procedure for the same or what are the legal points i have to look after during balance transfer process.

Don't worry after all nationalized bank like SBI has very less percent of interest when compare to ICICI and HDFC so contact for Information on loan schemes and services 1800112211 (toll free from BSNL/MTNL) or 080-26599990."

Transfer home loan to HDFC from ICICI bank, suggestions needed?

I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? Please suggest!!! I am a poor frustrated ICICI bank home loan customer repaying the loan at floating interest rate of 12.5%(ICICI announced 9.75% floating interest rate for new customers). Finally I have decided to move on and transfer the loan to HDFC(not HDFC bank) and pay any penalty(around 35K) to ICICI. Can anyone tell me the current floating interest rates of HDFC for new/existing customers? Also, will I be still able to claim the tax benefits after the transfer of loan? I mean will I continue to get the tax benefits on EMI paid/Repayment to HDFC? Please suggest!!!

For getting home loan in india from ICICI, HDFC and SBI?

Whether it is essential to be employed by same company for last 6 months to get home loan? It is no where mentioned, they ask for just 6 months salary slips, so i can submit my last 6 months salary slips of more than 1 employer, isn't it?

its not necessary but u have to have good income to qualify for a loan.

Calculate the revised period of Home Loan?

I have taken a floating rate housing loan and have made a part pre-payment. The interest rate have also reduced twice since the date the loan was disbursed to my account. I have opted for reduction in the loan tenure instead of reduction in the installment amount. Can somebody provide me the formula/excel sheet format to calculate the revised tenure of the loan?

Can Home Loan & Educational Loan be taken together?
Currently I have taken a Home loan Rs 30 Lacs (Emi 32000) , next year i am planning to a MBA in IIM , ISB which would cost me around 11 - 17 Lacs. I want to know that whether bank will allow for 1 year moratorium period during my education for Home Loan EMI. Also I would like to know that banks will provide Education Loan if I have already Home Loan running.

How many percentage between the home loan principles & interest amount?
Per Annum I Paid Against Home Loan Rs. 85800/-(Rs.7150 x 12 months ),So, My question is,How many amount relax-able from my tax saving & what percentage calculated Between Housing loan principle & interest amount.

Advice about choosing bank for home loan?
Dear answerers, I'm planning to purchase a flat in bangalore for which I need to get home loan. Please suggest any bank which provides good service, and also good interest rates. The builder has tied up with ING Vyasa bank and pushing me to go with that. Any feedback about. ING?

Co-applicant to a home loan claim HRA benefit?

Can a Co-applicant to a home loan, not a co-owner, claim HRA benefit?

I need to know if I can get HRA benefit while being a co-applicant on a home loan. I am becoming co-applicant just to increase the loan limit of the loan taker and I would not be the owner or co-owner of the property.

Employer lying about a laid off employee to get a home loan?

I have a employee that was laid off over a month ago. He is applying for a home loan and they are trying to verify his employment here at my company. If I say he is not employed, he will not get the loan. If I lie and say he still is employed I could very well be granting the loan. Are there any implications on my end for helping him out if something comes up later on?

I agree with the "off to jail" answerer and have this to add: this kind of bogus reporting is half of what got this country into this economic mess that we're in. People falsifying reported income, loan agents pumping people up into thinking they could afford more than they really could. Do not jeopardize your career/family/freedom/reputation to help get someone into a loan that they may or may not be able to afford. What you need to do is to give this former employee a truthful report when someone else calls you for an employment reference. That is the biggest favor you can do. He will have to get the home/job/etc on his own merits and abilities.

Which rate of interest will be charged to me on a Home Loan?

Sir, I have applied for a home loan from HDFC bank. The day when i applied for the loan, the rate of interest was 10.25% and now it has become 11%. so which rate of interest will be charged to me. The rate of interest on the day of application of the home loan or the day when i take the first disbursement of the loan ? please reply as soon as possible.

The rate of interest on the date of application will not hold good. The interest rate prevailing on the date of disbursal will be charged. one more detail for you. There are two types of interest rate Fixes & Floating. the rate you are mentioning is certainly floating rate. in fixed rate the interest rate will not be changing to you for three years. in floating rate if RBI allows and if hdfc choose to increase the rate, immediately you will be charged more from that month. also if for any reason interest rate drops you will be benefited by paying lesser interest from that month

NRI Resident Home Loan?

I am deputed employee of a Indian Company. Working in US from last 8 months. I am on L1 VISA (Temporary Intra-Company Transfer), I got my Indian salary in India(INR) and US salary in US(USD). I want to take home loan. I searched in HDFC/SBI websites, their criteria for NRI home loan is working more than 2 years in foreign country. But as per rediff definition I am NRI. Then shall i apply for NRI home loan? Or shall i apply for Resident home loan. which is beneficial?

When your work visa is for a temporary period, why don't you avail after returning to India ...? Otherwise two yrs stay abroad may be required for you.

I want an education loan but don't have 60% in graduation am i eligible for it....pls help me?
i want an education loan for mba but sbi is saying i don't fulfill the criteria of 1st division throughout graduation as i have only 57.5% ... my father has taken a home loan from sbi personal banking.. for over three years and has made all the installments in time.. is it of any help...

Joint Home loan with father?
Hi, I want to apply for home loan. Can I apply for joint home loan with my father? I am 26 year old and my father is 67 year old. He is retired army officer having good monthly pension. Also he is running grocery shop and farm. I stay in Pune, India. Which bank can combine my fathers income with me to eligible for specific loan amount? I am interested in SBI and Bank of Maharashtra.

HDFC OR ICICI OR AXIS BANK FOR HOME LOAN IN INDIA?
I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS for housing loan of 25 lakhs in india. I am applying for housing loan of Rs 25 lakhs. But i feel it is very difficult to get loan from SBI or Canara bank. Since there are lot of formalities in this public sector banks like guarantor etc. And also they are not ready to pay more than Rs 20 lakh for me. But Private banks like ICICI, HDFC, AXIS bank are ready to sanction Rs 25 lakhs housing loan for me. I have seen a good flat which costs around 30 lakh in Bangalore. So I require your suggestion which private banks shall i choose. ICICI or HDFC or AXIS. How is this banks process when PLR is increased or decresed. How frequently this banks increases Floating rate of interest. Thanks,

HDFC is best option in your three choices. Don't opt ICICI bank as you are not guaranteed to get back your original sale deed after full repayment of loan. A person in chennai has filed case against ICICI bank in consumer court for the return of original sale deed.