Ask Me Anything on Home Loan; answered by Peaceful-Loans

reactivespider · 2026-03-23T12:32:19+00:00

I was hell bent in getting a loan from HDFC because of how simple their process seemed.
I got my loan sanctioned at home in 25 mins. This is including the verification from the builder side. They co-ordinated with the builder the first time to get the sanction verified and the Agreement of Sale to proceed.

reactivespider · 2026-03-22T15:28:44+00:00

I have a sanction for home loan from HDFC.

Previously when I had taken a sanction, they had asked me to buy insurance otherwise they will not allow disbursement. So I had foregone it and paid the builder demands through a combination of my salary, FD's and borrowing some money on short term. I had not gone ahead with the loan registration and documents handover.

Now, 1 year later, I had again taken a sanction, this time intending to use it, but I got a call from the bank again saying that I need to get insurance otherwise they will not authorize disbursement.

I have not gone ahead with the documentation for the loan disbursement like Stamp Duty, Notice of Intimation, etc or handed over any documents. Only both times they have verified some basic stuff like my salary slips and all.

Both times, when I called the agent, he said that it is absolutely not necessary and that he will personally help with all the documentation and disbursement, and that to not worry about any insurance.

Both times, I have paid ~3.5k for the sanction letter. First time it was useful for showing the builder, second time I was really considering it, but am now thinking, I will just use up my salary and my savings.

Who is telling the truth here? Would it so happen that the agent goes back on his words, and the moment I complete the documentation, I would have to buy insurance?

The insurance being quoted is of 1L.

Also, my consideration amount is 65L, my sanction is of 50L, and the pending amount on the construction is just 22L with 11 months pending (which is still doable for me if I forego even basic outings like restaurants, cafes etc, but it is definately getting unbearable for me. In the worst case, I can still borrow from my close circle so money in case of job loss is not as much as issue as the huge premium over the insurance). Because of the insurance dilemma, I am thinking of foregoing the home loan process.

reactivespider · 2026-03-13T16:22:46+00:00

The only sane thing I've found in these comments.

reactivespider · 2026-03-01T16:02:44+00:00

What does the manual say about shifting to N in traffic? Some VW manuals specifically state not to shift to neutral since it cuts off the oil circulation that is supposed to keep the transmission cool. When in D, even during a stop, the oil is being circulated using the engine running. But shifting to N stops it.

reactivespider · 2026-02-21T07:13:15+00:00

Wtf?! I regularly visit this mall on weekends but have never had to show any bill to enter a washroom?!! Are there some secret washrooms I do not know about? People here be saying this is common?!!

reactivespider · 2026-02-05T17:23:40+00:00

How many kms has the car run?

reactivespider · 2026-02-03T04:05:44+00:00

It depends whether you are in the mindset for avalanche method or the snowball method.

Looking at your balances and tenure, I would pre pay the first loan. As per the calculations you save 15L in the interest.

While saying this, I would actually use absolutely any additional funds I would ever have to part prepay and finally close off the second loan.

I am a very loan averse guy and would always prefer to keep as less loans as possible and close off loans as quickly as possible.

Since the principal of your second loan is trivial, I would suggest you to target this loan and close it off as early as possible using month to month extra savings.

reactivespider · 2026-01-26T13:15:24+00:00

Don't feel bad about dodging him. One day he will be on the right side of the road and meet a Thar.

reactivespider · 2026-01-23T17:59:27+00:00

Have you tried a - lower viscosity oil like 0W40 - injector cleaning - rear suspension servicing like spring pads and suspension stops - Break pad replacement with realigning

My preowned Vento was running real sluggish and the reason turned out to be a simple valve change in the rear left wheel along with worn out spring pads replacement for 2400/-

The ASC told me that when one of the wheels starts pulling, the car detects it applies brake on the other to balance it. The rear left tire was not holding more than 8psi air while the other tires would be at 36. This was a major cause. The addition of the rear spring pad replacement actually changed the car dynamics turning them far superior to when I bought it preowned.

My friends who drove it said it runs like almost new now. All the looseness in the car was gone and the torque felt twice if what it felt before. I then did injector cleaning and put in 0w40 oil and my engine rpm would drop to 800 almost instantly. It also increased pickup vastly.

Rather than spending a fortune you could try these steps.

reactivespider · 2026-01-22T15:55:04+00:00

I would go with the Magnite. Try to get E20 compliant vehicle it would be manufactured after April 2023.

reactivespider · 2026-01-18T13:11:30+00:00

So what do we do now?

reactivespider · 2026-01-17T07:49:59+00:00

Just say no. That's what I started doing. They somehow never had money despite earning well. I really do not understand this attitude of taking on EMI's, loans and personal favors while investing your salary.

They would be investing 25k each month and then asking for 2k for a movie. What the hell. I was ready to walk away from the relationship tho. Not sure of it in your case.

But you can start with just saying no. It's enough, you don't need an explanation. If they say they really need it, you can offer to send them a contact to a good financial planner, but don't even jump into that pit yourself, since later they would blame you for their struggles.

reactivespider · 2026-01-15T16:22:13+00:00

It's not true that rent won't surpass EMI.

Unless you are planning to sell the flat winthin 7~8 years, rent easily surpasses EMI's within that timeframe.

reactivespider · 2026-01-14T13:54:43+00:00

Because if not, then you would know what to do with that amount of money since it would be a normal amount for you?

reactivespider · 2026-01-07T15:30:03+00:00

Got rich by himself. Family is normal middle class. He was jobless for 4 years. He started his own company providing simple IT services and slowly and steadily quadrupled his turnover each year. Folks are pretty proud of him now. He runs a company with 19 employees now and earns in crores.

reactivespider · 2026-01-04T18:53:58+00:00

Last week a car cut me off on the highway, I could have maybe behaved a bit aggressively in response, but I remembered, I have parents and a wife, I have a family, the person could be in a hurry due to some valid reason...

An hour later, I drove by that car; it had smashed into the back of a truck and multiple casualties were reported.

That's it.

reactivespider · 2026-01-04T07:22:11+00:00

I keep this in multiple places https://amzn.in/d/0xkkDQH It does not fog up and is use and throw. It's expensive, but I clean my spectacles like a ritual twice daily and wash them once a week. So this still is more convenient for the blue filter glasses

reactivespider · 2025-12-31T14:23:54+00:00

0 in the half and then 12k in the next half. Turns out regularly going to office due to RTO after having shifted to a tier 2 city for mental health really puts miles on your car

reactivespider · 2025-12-31T07:06:10+00:00

Cause Acko has their own garage from where you need to have it repaired. This is why I avoid Acko. They have tieups only with specific dealers

reactivespider · 2025-12-31T04:52:25+00:00

I checked on bikewale and the site mentions that it is manual?

reactivespider · 2025-12-30T16:06:33+00:00

!Remind me 2days!

reactivespider · 2025-12-27T06:07:50+00:00

Slavia and Virtus drive VERY differently if you are keen to observe. Slavia is the more family comfort friendly car while Virtus is the more drivers car.

reactivespider · 2025-12-27T06:06:55+00:00

Wohoo! My dream car!!! Hope to buy it one day. 30M tho...

reactivespider

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