Which one is preferred - PNB housing finance or pnb for home loan?
Yes. Definitely. PNB should be more preferred. The reasons are:PNB is a nationalised bank and with assets and liabilities more than 10 lakh crores as on 31.12.2017. Its’ home loan rates depends on its asset liability management expertise and MCLR is the second lowest in the banking industry in India after SBI. It is charging around 8.45 % for ladies and 8.5% for men for their home loans now, which is at par with many nationalised banks or less. Their MCLR will be reset more frequently than the PNB Housing finance which is a subsidiary of PNB and do not have that volume of assets and liabilities like PNB and their functioning is independant of PNB.Further if your interest rates are linked to MCLR, it would be better as your rate of interest will be linked to market scenario, where as in Housing finance companies they charge extra 1 to 2 % for changing the interest rates on home loans when there is a change to a lower interest rate and when you opt for the lower interest rates. Further in Banks, the interest is charged on a daily diminishing method, where as in housing finance companies, earlier it was yearly diminishing and now on a monthly diminishing mehtod. Pl go through the term loan agreements before signing and understand the impact of these clauses. Daily dimishing is always preferred by borrowers as the day the instalment is credited to the account, that days’s balance is only considered for charging future interest. Whereas in monthly diminishing, even if your credit is on 5th of the month, interest will be charged on the balance of the previous last day of the month and you will end up paying interest for 25 days of the instalment amount, though paid on 5th, but you don’t get credit for the value date 5th.When you transfer your loan from any finance company to another, you will end up in paying take over charges usually 2% of the balance outstanding to the transferor company and the transferee company may charge you again, their processing fees, central registry charges, documentation fees, legal fees, Upfornt fees etc again from you which is a good amount of loss if you donot choose a good financing company in the begining itself.
What is the procedure to preclose a PNBHFL loan?
Search google. There are lots of examples of fraud by PNBHFL. Executives are untrained and best in telling lie with confidence. They never care once they sold their home loan. Cheaters are awarded in PHFL who sell their product by way of fraud or otherwise , it doesn't matter. In short, PNBHFL is the worst company among NBFCs. However, choice is yours. Some example of fraud and cheating by PNBHFL here in the link.https://www.consumercomplaints.i...https://www.complaintboard.in/co...https://www.consumercomplaints.i...
Which is better for home loans, Punjab National Bank or SBI?
I won't comment about other banks, but I can give you a brief detail about Home Loans in SBI.People say we are very strict regarding documents, but that is a necessity and b'coz of that we have very few bad loans in this segment, other bank tries to poach them coz they know documentation has been done by SBI so they don't have to worry about it.Our interest rates are lowest in the market, SBI has a policy of applying interest on the reducing principal, I.e. we don't apply interest on the whole principal for lifetime, we apply interest on the reducing amount. For e.g. you took loan of 10 lakhs, your EMI is being deducted every month, so the loan amount is being reduced every month, interest is being applied on that reducing amount and not on the whole 10 lakh for lifetime, you save a lot of interest this way.We also provide home loan as an OD, where you can use it pay back partially or fully and then use it again.We also provide top ups for those who require more.We have a combo of house loan and car loan.We have launched products for Army personnel.We don't charge for pre closure,you can close your loan account before the given period,there is no charge for it.For further details you can visit the website of SBI, or any branch, or you can download SBI samadhaan or quick app.
Which bank offers the lowest home loan interest: PNB housing finance or SBI?
Find below the link for Home loan interest rates:Compare Home Loan Interest Rates May 2017 SBI ICICI HDFC PNB Axis OnlinePNB Housing finance is different from PNB bank. PNB housing finance is an NBFC.The basis of charging interest on home loans granted by housing finance companies, is different from the one adopted by banks. These companies base their actual lending rates against a benchmark rate, which is called Benchmark Prime Lending Rate (BPLR). These lenders do not change their PLR as frequently as the banks change their rates. In order to entice and get new customers, housing finance companies may give more discounts on their PLR. This may seem unfair to existing customers, who remain locked at interest rates with lower discount to the PLR. The existing borrower will get the benefit of lower rates, only when the lender reduces its PLR, which does not happen so frequently.However in case of banks it is mandatory they provide loan on MCLR basis i.e., their cost of borrowing by bank Plus thier margin. Hence any decrease in borrowing cost will result in decrease in interest rate and reduction in EMI.Credits: How are home loan rates charged by banks and housing finance companies
How good is Piramal Housing Finance for taking a home loan? Which one do I have to choose, Piramal Housing Finance with 8.45% or PNB Housing with 8.85%?
The comparison should be done on a factual basis. Be it any loan, it is always suggested to take it from a trusted lender. Piramal Housing Finance and PNB housing finance both offer home loans but there is a difference. You should consider the below points:You should check which lender is giving you a desired loan amount for home loan keeping in mind your salary. Both the lenders have different income criteria on the basis of which maximum loan amount is calculated.A home loan may continue up to 30 years and interest rate is one of the main factors that you should consider while comparing different lenders. But, other factors such as maximum loan amount and most importantly whether the lender approves loan in your property location or not.Also, how is the lender treating your credit history. Having a good credit history can help you get lower rate of interest but if you are a defaulter, you might not even get approval.So, consider these factors in mind while comparing these two lenders and then choose a suitable lender as per your comfort.
What is the formalities for taking a home business loan?
Hai friends, i am a distributor of a Nutritional company. i want to do this business in myown home. so do u know any information about business loan.. i cant take a rental shop... i have only union bank accout. i wish to do the business in home only. need 200000-300000 rs. pls assist me
Is Aadhaar housing finance reliable for a plot/home loan?
Aadhar Housing Finance is a subsidiary of Wadhawan Global Capital (WGC). Further, listed entity Dewan Housing Finance Limited (DHFL) as well as World Bank Private arm International Finance Corporation (IFC, Washington) are key share holders of Aadhar Housing Finance.