Best Home Loan Provider for Indian Community

1. Owning a home is the biggest dream for a person as a person passes through three stages of life where in initial stage he/she acquires a job, followed by getting married and ultimate is to buy a dream home. It is a mental satisfaction if one is able to get the dream home with personal savings as compared to inheriting a house from parents.

2. However one must undertake a deliberate effort to bargain for the home loan rate of interest as it is a buyers market.

3. ICICI bank having recouped from its collapse rumours has raised the home loan rates by 1%. The point here is to note is that it is now shifting from loans to deposits so that it can have lesser credit default. One may even encounter strict credit checks before issuing the final cheque or 'check' as referred in US. However the strategy nmay bounce back in form of an increase in NPAs as now its floating rate of interest post this hike is 13%.

4. I personally like HDFC for home loans as they are more professional in their dealings. Even its floating rate of interest rate for the loan is 11.75%.

5. One must note this point that these banks are very shrewd in floating rate of interest and will immediately increase your rate of interest when the deal is in their favour and will not reduce the same when the loan rates go down and may pass the benefit only to new customers. DO read the fine print before signing in black and white. My brother took a floating rate of interest loan from ICICI and had to suffer due to non changing of rate of interest by them despite a huge fall in rate of interest and thus he had to foreclose the loan.

6. However best home loan provider is HDFC in India as it has clear and transparent dealings for the credit and related rate of interest. I have been with them for past 4 years and was able to lock at fixed rate of interest of 7.5% and I do not have even a single chance to complain against them. They definitely deserve my kudos.

7. One can go for fixed rate of interest when it is a low rate of interest regime and go for flaoting rate of interest when it is a high rate of interest regime.

8. Even SBI is foraying aggresively in mortgage loan segment as it has the largest branch network and easy reach for the customer.

9. Feel free to post any query related to home loans here and I will answer it personally to ensure that one gets the best bargain. Your comments are welcome regarding your experience with other home loan providers.