6 Replies
Nitin Arora
(Financial Audits)
(53 Points)
Replied 17 May 2016
Ideally NBFCs are the best option while choosing for home loan as they provide home loans on very low interest rates and also several other features and benefits like customized insurance schemes, 3 EMI holiday, nil foreclosure charges etc. Moreover they provide easy approval with less documentation required.
Personally, I would recommend Bajaj Finserv as they provide home loans at 9.50% interest rate, considering all other extra benefits added in the same.
Padam Chhabra
(Finance advisor)
(155 Points)
Replied 02 June 2016
Going for NBFC's is not a bad option but generally borrowers with a bad cibil score prefer NBFC's as they face problem while applying to banks. Yes it's true that Bajaj Finserv provides loan at 9.50% but banks like SBI do have the same 9.50% floating rate. One can compare on online portals for the best rate of interest.
Vinay Grover
(Grover Consultant)
(37 Points)
Replied 02 June 2016
Hi, I want to update my all friends SBI offer 9.35% for women and 9.40% for others
i am Vinay Grover , Home Loan consultant of SBI.
and trust me its best Home loan provider in Market
his is a Bumper PF offer from State bank of India for HL BT cases
Irrespective of amountt
- Offer valid up to 30 th June 2016
- Legal And Valuation fee + Cersai +ST charges are applicable
- Property Insurance is mandatory
For any further clarifications kindly feel free to call us any time.
Vinay Grover
9971433977
SBI Home Loan
Delhi/NCR
Manjinder
(Finance Advisor)
(175 Points)
Replied 10 June 2016
I agree with all of you and would like to add that the people with bad cibil score only have NBFC's as the option to get finance from. At that moment the rate of interest the borrower gets is really high as compared to borrower with a good cibil score.
rohan
(Finance Intern)
(25 Points)
Replied 11 June 2016
First, you should check your CIBIL Score. I would strictly recommend you to do it. This will help you decide whether you should apply to a bank of an NBFC.
If the CIBIL Score is good then it is easier to get a loan from the bank otherwise, one will have to apply to an NBFC.
The banks give low-interest rates on home loans. Ex:
SBI : 9.35%, SBI (FLEXIPAY): 9.40%, HDFC: 9.40%, ICICI: 9.40% - 9.65%
The NBFCs give loans at higher rates. Ex:
Tata HL:9.45%, Sundaram Home:9.45% , PNBHFL:9.55%
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