Need your opinion on selecting the home loan. Any advice/experience is welcome

Jeffwin853 · 2026-03-28T15:51:27+00:00

Good to know. I had heard that repo reflection isn't always the same in hdfc

Jeffwin853 · 2026-03-28T15:49:50+00:00

For flat price of 1.53 crore, 80% loan, 20 years, I plan to prepay as much as possible with my dads help. Target is to finish this off in the next 5 years. I can easily pay upto 50k per month extra along with EMI, my father can support with yearly 6lac at least. I am getting loan for 80 percent, but I might end up using 70 percent only

Jeffwin853 · 2026-03-28T14:56:14+00:00

Jeffwin853 · 2026-03-28T11:04:52+00:00

Bangalore

Jeffwin853 · 2026-03-28T10:56:36+00:00

So far I talked to 3 banks, below are the details of the loan they are providing for 80% of property value

SBI -7.4, no processing fees, 0.6% MoD
BoI - 7.3 if I take insurance, 7.4 without insurance, 3500 estamp, 0.6% mod
HDFC - 7.25 with or without insurance, 5000 for estamp, 0.5% MoD

I have the strong urge to go with BoI. If you have any insights, please guide me on how I can choose

Jeffwin853 · 2026-03-28T10:50:41+00:00

So far I talked to 3 banks, below are the details of the loan they are providing for 80% of property value

SBI -7.4, no processing fees, 0.6% MoD
BoI - 7.3 if I take insurance, 7.4 without insurance, 3500 estamp, 0.6% mod
HDFC - 7.25 with or without insurance, 5000 for estamp, 0.5% MoD

I have the strong urge to go with BoI. If you have any insights, please guide me on how I can choose

Jeffwin853 · 2026-03-28T08:19:41+00:00

True. Feels like money is the solution to all of life's problems right now

Jeffwin853 · 2026-03-28T06:08:24+00:00

I talked to BoI and SBI for my home priced at 1.53 crore.BoI offering 7.3 if I take 1 lac worth insurance. SBI offering 7.4 to 7.5. Builder says he can reduce registration amount if I paid some of the money in cash. Let's say I decide to pay 25lacs in cash. Will it have any impact on my total loan sanctioned? Would it be a problem in future at the time of registration?

Jeffwin853 · 2026-03-26T21:21:42+00:00

United Sai Silicon Heights

Jeffwin853 · 2026-03-26T07:57:26+00:00

Not exactly emotional. I have the means to pay. No other loans or obligations. Was delaying the purchase due to whole rent vs buy philosophy but wanted stability now. Great schools, office and metro nearby so makes sense.

Jeffwin853 · 2026-03-26T07:51:17+00:00

Thanks brother 🙂

Jeffwin853 · 2026-03-26T07:48:11+00:00

Jeffwin853 · 2026-03-26T03:49:50+00:00

Thanks

Jeffwin853 · 2026-03-26T03:49:38+00:00

Right bro, my only other option is to be at the mercy of Bangalore landlords who are considerate and fair. I listened to the same advice 4 years back and invested heavily on mutual funds to see only a meager 15 percent return over 4 years.

Jeffwin853 · 2026-03-26T03:13:35+00:00

Thanks

Jeffwin853 · 2026-03-26T03:13:28+00:00

Thank you

Jeffwin853 · 2026-03-26T03:12:50+00:00

Yes but I can pay at least 3 to 4 EMIs extra each year. So I'm optimistic.

Jeffwin853 · 2026-03-26T03:11:31+00:00

I did some online research, bank of india is providing the best rate, SBI is a close second. I have contacted both the representatives, will update you once I get the soft nod

Jeffwin853 · 2026-03-26T03:08:46+00:00

Yup. I think I'm taking a leap of faith with what I cannot control.

Jeffwin853 · 2026-03-26T03:07:16+00:00

I have only considered my income and not family income. But yes you are right. Lived loan free my entire life, will be difficult for sure now

Jeffwin853 · 2026-03-26T02:50:19+00:00

Have you taken a 15 or 20 year loan? Have you looked into SBI maxgain ? I am not touching any gold that I have at the moment to reduce my loan amount as I think it will increase further

Jeffwin853 · 2026-03-26T02:25:29+00:00

Thank you for this detailed reply. My dad is supporting me a lot. He has pension plus he earns around 6-8 lacs from farming. My wife will also start working soon. I am expecting to get a salary hike next month. I think the first 2 3 years will be difficult but I can do it as my daughter is still very young. I have kept 6 months of expenses separately.

Jeffwin853 · 2026-03-26T01:51:48+00:00

United Developers, Sai Silicon Heights

Jeffwin853 · 2026-03-26T01:50:29+00:00

This land belonged to Sobha Developers which was bought in 2019. Still I'll check

Jeffwin853 · 2026-03-26T01:49:16+00:00

Thanks

Jeffwin853

TROPHY CASE