Post demonetization has left the home loan sector in true benefits!!!
After the decrease of interest rates came subsidy for the home loan for the amount 12 lakh. The nationalized banks reduced the home loan interest rates making really competitive and tough to choose from. SBI stands as a pioneer to reduce the interest rates.
Yet another step by SBI which gave rise to further competition, no processing fees period. LIC Housing, Kotak Mahindra Bank are some of the followers in nullifying the processing fees.
This is the best time to avail the home loan or to opt for a balance transfer. Because, you can skip the charges as they usually go upto a maximum amount of Rs. 10,000.
How Does No Processing Fees Work?
Processing fee is charged by the institutes or banks which includes the charges for the document check, legal check and property check.
So, what happens during no processing fees period is, you have to pay the legal charges separately. Whatever may be the extra cost, it doesn’t reach the usual processing charge limit.
But, always ask for the other additional charges while opting a loan during this season.
How Loanyantra Works on No Processing Fees?
Loanyantra, the first ever online home loan management company, suggests you which option is better. It makes you aware what kind of institute you can opt and what are the hidden charges by them. Be the first to know when there are promotions or offers by your favorite bank or institute.
Know more and avail more cash back offers on home loan. Happy Home loans.