Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
RBI to make banks responsible for their recovery agencies
The Reserve Bank of India (RBI) is working on setting up guidelines that will make banks responsible for ensuring that their recovery agencies do not recruit recovery agents with a criminal background, following the complaints by loan borrowers and creditApnaloan.com Research Bureau
12 Sep 2007
The Reserve Bank of India (RBI) is working on setting up guidelines that will make banks responsible for ensuring that their recovery agencies do not recruit recovery agents with criminal background, following complaints by loan borrowers and apnaloan.com/credit-card-india/comparators.html" target="_blank" title="\"Click" here="" get="" to="" the="" credit="" card="" comparator\="">credit card holders.
According to the banking sources, once the new guidelines were in place, all banks will have to ensure that recovery agencies did a thorough background check of their employees, including police verification.
The proposed guidelines will also require each bank to publish the names of its recovery agencies, even on its website.