Deutsche Postbank Home Loan Reviews
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2 Comments
Company Profile
Deutsche Postbank Home Finance Ltd. formerly known as BHW, is a part of the Deutsche Postbank Group, which is the largest multi-channel bank in Germany having an extensive product portfolio offering optimum solutions for private, business and corporate clients. The Bank’s key focus is on retail businesses with private customers.
Postbank took over Deutsche Postbank Holding AG in the year 2006. Deutsche Postbank is a major subsidiary of Deutsche Post, a leading logistics group with its arms holding DHL and Blue Dart on each side. They have made their active presence felt in India.
Deutsche Postbank has established an enviable reputation as the most responsive home loan player with over 40 branches and satellite offices across India.
Analysis
Loan To Value Ratio – Deutsche Postbank home loan can be applied for a maximum of 85% of the property value subject to credit discretion and are accompanied by a specially-designed insurance cover. This feature is very much comparable to other products in the market. Banks like HDFC, IDBI, GE Money, UCO, Kotak Mahindra, ING Vysya and Axis also offer home loans for a maximum of 85% of the property value. Few banks are more lenient when it comes to loan to value ratio.
Tenure – Deutsche Postbank home loans are available for a maximum tenure of up to 20 years for both resident and non-resident Indians.
Interest Rate – Fixed rate of interest @ 8.25% is charged for the 1st year, subsequently followed by floating rate of interest charged @ 8%.
Prepayment Charges – On prepayment of the loan, in part or full, a loan seeker is charged an early redemption charge of 2 % of the amount being prepaid. This feature is very much comparable to IDBI, PNB and HDFC Bank’s offering.
Processing Fees – 0.5% of the loan amount.
Published on August 5, 2010 · Filed under: BHW Birla Bank Home Loan;
2 Responses to “Deutsche Postbank Home Loan Reviews”
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Umesh said on August 16th, 2011 at 10:19 am
I would like to apply for Home loan for about 200000 for contruction of the home.
Please provide the details -
charu said on August 31st, 2011 at 8:23 am
Dear Umesh, many bank offers home loan for renovation and improvement. Here, you have to consider the home loan which proves most cost effective in regard to its interest rate and fees involved. For instance, Bank of Baroda offers home improvement loan up to maximum of twice of your gross annual income with a maximum repayment period of 10 years, for which it charges around 13.25% p.a. on floating basis. On the other hand, HDFC charges 12.25% as fixed rate and 10.75% as floating rate. So you can apply from any of the banks that provide you competitive advantage.
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