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Old 4th July 2017, 18:26   #196
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Default Re: SBI Home Loan : How long it took ?

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Originally Posted by babhishek View Post
Get the Maxgain now. I have been on maxgain for 10 yrs, the only issue I see with SBI, is that they are lethargic and lazy as a company/bank. While paying INR1000 anytime sounds good, getting the conversion might be a pain and require umpteen follow ups.
Actually I wish to spend some money on a car and renovation in the flat. Any surplus cash would mostly go in these 2 areas and once I get an idea of how much amount remains I'll get it opened. Waiting a month or two isn't really that big an issue but 0.15% on 70 lakhs makes a little difference in the EMIs which I'm trying to avoid in the first year at least.
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Originally Posted by babhishek View Post
FYI, getting the annual repayment statement from SBI is a challenge, compared to other banks who send online statement every month/annually.
Wouldn't the user get to see this information when they login online in their home loan account?
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Old 4th July 2017, 19:33   #197
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Default Re: SBI Home Loan : How long it took ?

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Originally Posted by maglev View Post
I have a query with regard to SBI's Max Gain Loan. As the EMI remains constant, and interest charged is dependent upon principle outstanding minus deposit in MaxGain. Then how is the Principle being amortized? Is it the same as a traditional home loan or not, if not, then what happens to the difference between scheduled interest payment vs. actual interest paid?
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Originally Posted by tejas08 View Post
The difference of Interest gets credited to your OD Account at the end of every month.
Is this a separate account or the same maxgain homeloan account ? Kindly clarify
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Old 5th July 2017, 08:29   #198
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Default Re: SBI Home Loan : How long it took ?

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Originally Posted by babhishek View Post
Is this a separate account or the same maxgain homeloan account ? Kindly clarify
Same Account. Can't explain anymore details since even I don't have much information on this.
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Old 21st July 2017, 10:20   #199
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Default Re: SBI Home Loan : How long it took ?

I am planning to take SBI Max Gain HL and wanted some clarification on the Bank Charges over and above the HL Amount.

Below is what the SBI HL Person has quoted for Joint Loan Amount of ~75L:

8.45% - Normal Term Loan
8.60% - Max Gain

Processing Fees: 11,800 /- [Maybe negotiable to 50%]
Flat Valuation - 1000 /-
Title Search - 4000 /-

As per him, below charges needs to be paid to the Govt.:

0.20 of loan amount Mortgage Amount - 15,000 /-
1500 - Stamp Paper
1800- Intimation Mortgage

Property Insurance - Around 20,000 /- One time Payment

Can anyone validate and let me know if this looks right?
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Old 25th July 2017, 12:26   #200
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Default Re: SBI Home Loan : How long it took ?

Would really appreciate if someone could clarify the below Query as i need to decide on it soon.
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Old 25th July 2017, 13:05   #201
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Quote:
Originally Posted by abhi3284 View Post
I am planning to take SBI Max Gain HL and wanted some clarification on the Bank Charges over and above the HL Amount.

Below is what the SBI HL Person has quoted for Joint Loan Amount of ~75L:

8.45% - Normal Term Loan
8.60% - Max Gain

Processing Fees: 11,800 /- [Maybe negotiable to 50%]
Flat Valuation - 1000 /-
Title Search - 4000 /-

As per him, below charges needs to be paid to the Govt.:

0.20 of loan amount Mortgage Amount - 15,000 /-
1500 - Stamp Paper
1800- Intimation Mortgage

Property Insurance - Around 20,000 /- One time Payment

Can anyone validate and let me know if this looks right?
Seems right amount. Only excess seem to be the property insurance which anyway would be helpful for you. Quote for insurance seems to be alright. Insist on reducing the processing charge. There might be some reduction in interest rate if wife is made as primary applicant.

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Originally Posted by abhi3284 View Post
Would really appreciate if someone could clarify the below Query as i need to decide on it soon.
Seems to be reasonable. Property insurance quote is also fine. Make your wife as a primary applicant and the interest rate will come down. Don't worry too much SBI RACPC is a streamlined mechanism. Almost all the things are standardaized for a given city/region.

Last edited by Zappo : 25th July 2017 at 13:26. Reason: Back to back posts merged. Use the Edit button to add to your post in the first 30 minutes.
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Old 25th July 2017, 13:11   #202
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Default Re: SBI Home Loan : How long it took ?

Quote:
Originally Posted by abhi3284 View Post
Below is what the SBI HL Person has quoted for Joint Loan Amount of ~75L:

8.45% - Normal Term Loan
8.60% - Max Gain

Processing Fees: 11,800 /- [Maybe negotiable to 50%]
Flat Valuation - 1000 /-
Title Search - 4000 /-

As per him, below charges needs to be paid to the Govt.:

0.20 of loan amount Mortgage Amount - 15,000 /-
1500 - Stamp Paper
1800- Intimation Mortgage

Property Insurance - Around 20,000 /- One time Payment
You can validate interest rates from the SBI official page link

Processing fees offers comes on and off. I paid nothing five years back.

Valuation and Title search charges are mandatory. Charges have increased from 3k to 5k.

Charges paid to govt may be correct. You should get receipt.

Property insurance is optional.
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