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Dear Sir,
I am going to apply for my home loan in Pollachi branch, Combatore District for Rs 3 lakhs for constructing my house . I have submitted the all documents.But now he asked Rs 15000/- as processing fee (5% of 3 lakhs).
Can you please tell me what is exact percentage of processing fee?
Thanks,
A.Mohamed Yasin
I am going to apply for my home loan in Pollachi branch, Combatore District for Rs 3 lakhs for constructing my house . I have submitted the all documents.But now he asked Rs 15000/- as processing fee (5% of 3 lakhs).
Can you please tell me what is exact percentage of processing fee?
Thanks,
A.Mohamed Yasin
I need to Convert my land loan (Rs 6.0 Lacs ) to home loan (Rs6.0+3.0Lacs) with additional loan amount to be added for Rs 3.0 lacs. HDFC is asking for P.Fees of 0.5 % loan value+S.T+S.D to convert the loan. I don’t understand why they need P.fees everytime in the same case.
I am ready to pay P.fees on the additional sanctioning loan i.e Rs 3.0 lacs but they asked to
pay on the whole amount i.e (Rs6.0+3.0=9.0 lacs) and for Rs 6.0 lacs I
have paid earlier.
They have informed that penalty charges at the rate of 3% (along with Service Tax and educational cess on ST) will have to be paid by me if I am transferring the loan to another bank.
I am ready to pay P.fees on the additional sanctioning loan i.e Rs 3.0 lacs but they asked to
pay on the whole amount i.e (Rs6.0+3.0=9.0 lacs) and for Rs 6.0 lacs I
have paid earlier.
They have informed that penalty charges at the rate of 3% (along with Service Tax and educational cess on ST) will have to be paid by me if I am transferring the loan to another bank.
HDFC is just cheating peopl, who have taken a loan from them. they are atracting new customers with interest rate quite lower than what they are charging on existing loans. you are paying more for your longer association with them. what a great customer service (cheating service)!
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First I want to say sorry about this. Just I want to clear you some steps.
HDFC sanction the Loan by verify your Salary, Residence proof and your legal documents.First they take photocopy of your all required documents.And after scrutinty they sanction the loan. Before starting the process it is your duty to confirm whether they will sanction and disburse the loan according that papers or any other legal papers required.It is quite possible that the original documents have some problem like overwriting/crossing etc.. So just discuss with HDFC Ltd. staff and they will tell you the way.
It is the rule in HDFC Ltd. that after sanction the loan they will not refund the processing fees.So it is customer's responsibility to know everything from his Loan councellor. So please ask your Home Loan councellor/Sales Executive regarding this.
Thanking you,
Vijay