Does Bank of Maharashtra increase their Home loan interest rate for new customers after this repo rate change or it will increase to 7.25% as the lowest ROI?

1. I need financing to buy a mixed use property having residential registry with 15-30% residential built. Can someone help me how to secure a mixed use property loan and which bank can offer good rate of interest. I asked from HDFC and they are offering 8.7% ROI but they need the registry to be done under commercial which will require me to do a CLU which i am not ready for as conversion charges are high. Can anyone help me or share how and which bank can offer to finance this mixed use property with registry under residential only.

2. Can I get home loan on this as the ROI is much lesser?

3. Any tips i can use to reduce loan interest or force bank to give it under home loan.

I am exploring all options.

Hi everyone,

I am purchasing an under-construction property in Bengaluru (Possession date: June 2029) with a total property cost of ₹1.93 Crore. I am planning to take a home loan of ₹1.50 Crore with a 30-year tenure.

The builder's CRM team shared initial quotes from two linked banks: Canara Bank at 7.15% ROI and HDFC Bank at 7.20% ROI.

Here is the cost breakdown provided by the CRM team:

Option A: HDFC Bank (7.20% ROI)

• Processing Fee: ₹10,000 + GST (Salaried offer)
• MOD / Stamp Duty: Quoted at 0.5% of Loan Sanction Amount under Article 5 (Govt of KA)
• Agreement & Misc Fees: Loan agreement ₹618 + Miscellaneous ₹2,000
• Mortgage / Prepayment: No Registered Mortgage, No Prepayment / Pre-closure charges
• Insurance: Property insurance required

Option B: Canara Bank (7.15% ROI)

• Processing Fee: ₹0 (Waived off)
• MODTD: Quoted at 0.6% of loan amount post-registration
• Legal & Administrative: Legal report, vetting, e-stamp ~₹8,000 approx.
• Misc Fees: Zero CIBIL, CERSAI, or inspection charges
• Mortgage / Prepayment: No Prepayment / Pre-closure charges
• Insurance: Property insurance required

My Plan & Strategy:

• Pre-EMI Prepayments: Construction-linked disbursemets will begin after sanction. I plan to make partial prepayments during this under-construction phase (2026–2029) to actively reduce the overall loan principal before taking possession in June 2029.

Key Questions & Clarifications I Need Advice On:

1. Interest Rate Stability & Spread Creep (RLLR vs EBLR): Which bank is safer against arbitrary spread increases over a 10–20 year horizon? Is Canara Bank's public-sector RLLR structure significantly more transparent than HDFC's EBLR when benchmark rates shift?
2. Tranche Disbursement SLA in Bengaluru: How smooth is Canara Bank with releasing construction-linked tranche payments upon receiving demand notes from the builder compared to HDFC Bank? Does Canara require physical site engineer visits for every single tranche release?
3. Insurance Bundling Pushback: Has anyone dealt with compulsory bundling of Single Premium Life/Loan Protection insurance from either bank? Can property insurance be easily self-sourced from an independent IRDAI provider?

Which bank would you recommend for a ₹1.5 Cr loan considering long-term interest transparency, overall setup fees, and disbursement convenience?

Attention all prospective home buyers looking at Godrej Park Retreat: We have a very exciting home loan offer for this project.

This project is still at underconstruction phase with handover in next two months. If you are planning to buy this through Assignment Deed, read below :

Here's what we can offer on Godrej Park Retreat:

-Up to 90% funding on the property based on MOU price

-7.00% interest for CIBIL 800+

-7.15% interest for CIBIL 750-799

-Public sector bank

- Zero processing fees

- OD facility available after handover

We've done several cases here, so legal and valuation clearances are usually quick. Rates and eligibility depend on your profile and the bank's approval.

Already have a home loan offer?

If we can beat it, we'll be happy to help you through the entire sanction process, start to finish, quickly.

+91 9667992644

Www.credwisefinserv.com

P.s. Credwise operates on Zero fee model.

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Hi all. Your home loan advisory team from (CredWise) is back with another AMA on home loan related information.

So, Welcome back to another session of Second Opinion, where we help you figure out if your current home loan offer is actually good or just sounds good.

A professional second opinion whether the loan offer you are choosing is great or you can save more.

Post your Loan sanction details, and we can give you an honest assessment:

✅Are you missing on LOWER rate as per your CIBIL and profile?

✅Which banks might give you better terms?

✅ Assignment cases, B khata, Plot purchase with lower guidance values etc.

✅ How to structure Home Loan if there is a difference between guideline value and Purchase value

Paying LAKHS in unnecessary interest without knowing that they could have got better offer. Getting locked into prepayment penalties they don't understand.

This thread is about giving you the tools to make better decisions.

TAG WITH A FRIEND WHO IS HOME HUNTING!!

+91 9667992644

Www.credwisefinserv.com

Hi,

Planning to take a home loan in Canara bank. Recently, I got aware of the 0.80% BSD (business strategic discount) which will be withdrawn after 3 years. I wanted to know how the prepayment option works ? I've heard from a few people that the prepayment option is considered as advance payment while few people say that it works as a partial principal layoff. Has someone used the prepayment option from the Canara mobile Banking app? Does it show an option to select either? If partial principal pre payment is selected then is there an option on the app to reduce EMI/tenure?