HFDC Bank is the King of Home Loans.
We are a group of 10 friends, each one of us
Contributed 3 lacs and with the 30 lacs we select
Sites suitable for development, we construct
Flats and sell flats on whatever the price we can
Get out of the market.
The initial capital remains stable, no body takes out
A single rupee. Only profits are distributed among the
Members.
For this purpose we are in constant need for home loans
Once the project is complete we go to HFDC as we
Have gone previously to other banks, but HFDC are
Quiet good in their dealings and very transparent and
Very helping. We get our whole project sanctioned
From the Bank on the basis of its papers.
Once this is done any buyer who comes to us is assured
Of a loan from the bank on the basis of Project Sanction
If the buyer is short of cash to pay us. They can take the
Loan on their papers, employment or business whatever
And the officers are not stuffy.
The Officers who are working in this section of HFDC they
Are given commissions if the loan deed is executed, This
Makes them extra helpful and very customer friendly.
They even make suggestions to you, how to get your
Papers in order. The approval of the sanction depends on
A appraisal authority, who is generally a Civil Engineer
He just checks the feasiblity of the project and the intended
Buyers if you have any in the list.
Once he comes, he is so unconcerned with you or your
Personality or your colour or any other considerations. He
Dont even spend 10 minutes in idle talk. He is not
Concerned about his personal gains or pains. He just came
To do his job as he himself have commission from the Bank
If the Loan goes thru.
After this step there is a meeting in the Head Office of the
Bank, which is the Main Branch in the City and the
Officer explains the expected papers required from us and
What is the remaining procedure this whole process usually
Takes around 1 month or less.
With the necessary signatures and meetings of concerned
People with the Bank Authorities, its done. They call you
To inform you that Cheques are ready for collection. I did
Not believe this, until I saw with my own eyes, This shows
Old India is dead. Welcome to new India.
I dont know what is the procedures involved in Home
Improvement Loans. But from the feedback they said it is
Almost a breeze. I have personally the experience of
HFDC only so I cannot talk about other banks. They must
Be good too. Because they belong to the same market
Which is India.
Believe me this is all there is to it in taking Home Loan.
The necessary papers required can be discussed with the
Loan Department, they are very helpful. Dont hesitate go
And get it.
Old India was so so, I just love this New India where there
Are banks like HFDC and their competitors.
The collateral in our case is the property itself and in the
Case of Apartment, its the apartment, the bank will register
the apartment In its name a keep it, till all the instalments are
paid and they will Then transfer it to your name.
