myBDAsites.com

Prabhakar,

Does home loan booklet which you recieved has written as "HOME LOAN AGREEMENT" on front page?. If so, Did you notice there is one affidavit section (page 25) where i have undersigned and has clause stating.. "I will commence construction within a period of 1yr frm purchase of plot...". Why is this pointed needed for plot loan. Does any of plot/loan site loan bank agreement book also contain similar stuff?

Jpnagarprop,

Yes it is written as "HOME LOAN AGREEMENT".Also point 2 in the affidavit says that "one of the terems and conditions for the garnt of the said housing loanis that the deponents shall commence the construction on the said plot of land within a period of 1year from the date of purchase of plot"

Thanks
Prabhakar

Hi Kbaijuk
Do you mean that affidavit is mandatory? I just applied a week ago for plot loan in Axis Bank. First he told me insurance is mandatory for plot. Thanks to your post I told him I will not pay and will change my agent instead. He then agreed. But I dont trust him now and wondering what other surprises he will pop up on me.

Jpnagarprop,

Axis bank is increased interest rate from 10.75 to 11% now for loan amt of 29L.I am planning to go for balance transfer to any bank which can provide at 10.5% through which i can reduce my EMI by Rs900 per month.Please let me know if any one has gone for balance transfer of loan recently

Thanks
Prabhakar

What is current base rate of axis bank?

I have no idea.

Thanks
Prabhakar

Guys,
I have transferred my Home Loan from Axis Bank(was at 10.75%) to IDBI at 10.25%. No Processing charges. The only charge i encountered is the agreement registration(something like that) around 10K.
Jay

Every now and then when we have money, Does Axis bank allow Part payment for plot purchase?

Thanks,
Ramki

yes. they do.. min. amt is at lease 1 emi and you can pay it only once in a month. For this, you have to goto Jayanagar 4th T Block branch and pay and there is no other way to do it.

Hi jayadas,

Are the property docs carefully transferred to IDBI? Can i transfer plot loan as well to IDBI? If yes, How abt part-payment terms and conditions in IDBI?