Oct 07, 2016 11:28 AM
22542 Views
(Updated Oct 07, 2016 11:23 AM)
I was in the market for a home loan and I did the rounds of the standard banks.
I first talked to SBI - the representative was like take it if you want it, these are the rules and these are the charges. The charges included processing fees( now waived), legal fees franking charges all amounting to around 25 K. when I argued that I have done my legal and if he wants he can take the opinion else pay for his own, he was like are you stupid. I soon declined and they had the gall to send me an SMS saying that they had rejected my application!.
The same story continued with LIC( poor response to queries), HDFC, CITI and PNB.
I then came across IDFC, there service was beyond compare, the representative helped in all steps, got the documentation from builder, kept me updated, verified the documents, evaluated the apartment and did the franking all except franking charges were collected from me. the only other charge was for the digital storage of documents. all in all about 7K for a loan of 44 L.
All approvals and stages passed status is provided by SMS and email and is very timely.
I also got a cute little pen drive with the documentation I provided and that they collected in the process for my reference from them.
their rate of interest at the time of writing this review was 9.4%.floating.
they do not have a prepayment penalty
I definitely recommend them to anyone looking for a loan and everything can be done online with the credentials they provide.
