You have a home loan from HDFC? In April 2022, it was announced that HDFC will merge into HDFC Bank. You may ask, aren’t these the same? No. HDFC and HDFC Bank are different entities. HDFC is a housing finance company (HFC) and is the promoter of HDFC bank, the bank. If you are still… Continue Reading
Amit (name changed) approached HDFC for a home loan. The lender sanctioned the home loan and cross-sold a home insurance policy (HDFC Home Suraksha Plus). The home loan amount is Rs 29 lacs, and the single insurance premium is ~95,000. The premium for the insurance plan is quite high. Amit can’t pay such a high… Continue Reading
During this festive season, major banks have slashed their home loan rates to attract the customers. Here are few such offers from major banks. SBI SBI, ‘the most preferred home loan provider’ of the country, offers home loans at 6.7%, for those whose credit score is above 800, irrespective of loan amount. So during this… Continue Reading
Home loan interest rates have been moving down over the last couple of years. At some point in time, the interest rates will bottom out. Some of us may feel that the interest rates have already bottomed out. In that case, if you are planning to take a home loan, is it a good idea to… Continue Reading
I had written a post on loan against securities earlier. However, the process always seemed a bit drawn out. It can easily take up to 5-6 days to avail the facility. HDFC Bank has come out with a loan facility — Digital Loans against Mutual Funds or Digital LAMF — where you can pledge your… Continue Reading
You are planning to move from your existing house to a bigger house. You plan to sell your existing house to fund the purchase. However, there is a minor problem. To purchase your new house, you need the sales proceeds of your existing house. Now, closing a deal (acceptable to you) may take some time. How do… Continue Reading
In this post, I will share an example where the bank did not pass the interest rate cut to the customer for a very long time. I found out about this case in an article in MoneyLife magazine. A gentleman took a floating rate loan from HDFC Bank in 2007. The loan was to be… Continue Reading
You recently learnt driving in a driving school and want to purchase a car. But you are still not sure of your driving skills. And it hurts to even see a minor dent on a new car. You decide to go for a pre-owned or a second hand car. By the way, your lack of… Continue Reading
You are planning to buy your dream home. You have approached various banks to get the best deal on home loan interest rates and other processing charges. After much hard work, you have finalized a bank. During a visit to the bank to complete formalities, the bank official told you it is compulsory to purchase… Continue Reading