Home loan experience - Compare Loan providers. Review on Taking a Loan

This is write up is based on my experience from home loan application.

I had a tough time in geting home loan as now a days all banks are taking lot of time to verify all home documents.I approched 3 banks for loan.

1. SBI home loan-This was the best not in terms of customer experience, but in terms of fair practice and reasonable rates.It took around 45 days to get loan.One will have to do lot of running around and follow up with sbi office.You also have to push the SBI employees to get the loan process done.This is expected in a public sectior bank

But the best part is that they are very fair and also ethical. They dont cheat customers like other private banks.Rates are also reasonable.SBI is very fair in that.Also they will do good verification of apartment documents and will give you a copy of verification report by advocate and also a valuation report.Any body who want a loan should first approach SBI provided you have at least 45 days to get loan through.Try private banks only if you have problem with sbi.

2.HDFC bank.-This is the worst bank in Home loan market.They are un ethical and as expensive as any other private bank.Service is worse than a public sector bank. Do not even think about going to hdfc. This is worst loan provider.They dont give you any verification report from advocate.Also ask for many documents after taking processing fee and delay loan process up to 30 days

3.ICICI- Expensive .Also they have many hidden charges.But service is good .Loan process will finish quickly.But very expensive.They will hike interest rates as soon as rbi hike rates.But they will not decrease rates as soon as RBI does it.They are just greedy, but good service