What to look out for in Home Loan ??

  • Stability and history of the loan lending Bank/Institution. Google searching will give you a lot of information regarding the financial standing of each bank, institution and loan lending companies.
  •  The experiences of people who are borrowers of the said bank/institution since past few years.
  • Do people recommend the bank/institution and their procedures or are they bickering.
  • Are the bank/institution authorities prompt to answer queries and revert back on problems faced by borrowers?
  •  What experiences do people share in case of delayed payments and skipped EMIs.
  •  What are the recovery procedures of the bank?
  •  What experiences do people share in case of prepayments or shifting/transfer of their home loans to another institution.

 

Finally do understand, internet is a vast world of information and different types of temperamental people keep posting different experiences which may not always be right. As also some comments may be manipulated, shelling a few amounts of money can get you a thousand likes or a few thousand negative comments.
So be open minded, not all may be true, follow your gut and then make the decision!



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