Introduction to Banking and Finance

Introduction to Home Finance

Owning a Home is a dream of millions of Indian. With the increase in population and increase in disposable income among the middle class Indian, the demand of New Home increases every year

To meet the demand the different public and private department and organization are building homes for million of Indian.

But the story of Own Dream Home can not be achieved with out the support of Bank and Home Finance companies, their easy and affordable Home finance scheme encourage the millions of Indian to go for purchase of Home.

This section of Trusted Property solely takes a close look at the availability of different type of Home Loan, Home Loan provider, eligibility criteria, Home Loan process, expert advice and combine with open discussion forum.

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Every Bank or Home Finance Company has different type of loan catering to different segment of customers. We will discuss the type of loan and their USP in detail later in the Home Loan Segment.

The Home Loan provider widely can be divided into 2 segments on the basis of their approach and attitude toward home loan. We put all Home Finance Companies and Private or foreign Bank in this segment. The Public Sector Banks come in the second segment of Home Loan provider.

The first segment of this industry is very aggressively marketing their different home Loan products since 2002-03. They have created specialize branches, division, DSA network and followed by high advance target with heavy marketing and publicity budget. The second segment of Home Loan provider the public sector banks never seriously took Home Loan as the priority sector, expect the few. On RBI instruction PSU Banks are looking into Home Loan advancement seriously.

There several reason why public sector bank has not done better then HFC and Private/ Foreign Bank. We wish to put some of the reasons on records are:

Normal Branch business and never created any specific division for HOME LOAN.

No special trained staffs
No aggressive approach and no clear marketing plans
No interaction with developer
No DSA or DST system as private HFC

But in near future these banks are going to play a very important role in Home Loan provider segment, as they have backing of RBI to invest in Home Loan. They are flush with fund and they have the system. Only thing which is missing is the approach and attitude, which they already started to change and it is visible with firm plan for future. We always advise home buyer to consider these bank before approaching HFC or Private Bank. In change of attitude of these PSU Bank the time taken to execute a Home Loan transaction will certainly come down. Their clarity and policy will defiantly help home buyer to reduce the interest cost and reliability of Home Loan provider.

Home Loan information

Oriental Bank of Commerce