Supplementary Legal Opinion Charges Sbi

Thank you very much for all the information. I am also in the process of working to take out a home loan from SBI. I met Customer Relationship Officer, sbi, indiranagar. I have filed a number of legal and agreement documents. He said he would send them to his lawyer. Once the lawyer has granted permission, I have to file the application with step 5 required documents.is (submit documents), which you mentioned. I also asked him if I needed to travel for the loan process. He said that once the loan is approved, I would have to go to headquarters and submit the documents for documentation. My builder told me to choose AXIS Bank because the SBI loan process is slow, but I go for SBI because it is a nationalized bank. Am I taking a risk? How long does it usually take? Thank you for your esteemed opinion. I will call you as soon as I have more information. I also asked around and learned two things.

1. SBI issues real estate loans for third-party properties under a normal term loan. 2. Existing loans can be converted to Maxgain for a small fee. (Rs 1000/-) I am in the process of applying for an SBI loan for a resale apartment. The evaluation and legal review are ongoing. The evaluator indicated that loan approval and loan amount will also depend on the percentage variance in the approved plan. Can anyone share more information about this? What is the maximum spread percentage allowed to get an SBI loan (check your appraisal reports). Do these stamp duties really have to be paid by us? Hi Sanjeev, please see the answers online Q1. If I have selected an SBI-approved project, do I have to pay the following amount? 14.911+200 Please explain.

Jerin: You always have to pay the same whether the project is approved or not. Electronic stamping aims to ensure the legal validity of the purchase and construction contract. 2nd quarter. The assessment fee in your case was 1500/-, is it a fixed amount of SBI? Jerin: The award I said is the one I was given in 2011. So I`m not sure about the current fees. T3. How do you feel after a year as an SBI customer? Comments please. Jerin: Normally, once the loan is approved, I think all the banks are the same. You hardly need to interact with them, except that the certificate of interest must be issued for the submission of the tax return.

So far, I haven`t had any issues with SBI. In fact, I was really surprised for myself when my credit manager (in SBI Special Home Loan branch) still remembers my name when I went to the bank after 2 years to pick up the certificate of interest. That kind of link, I don`t think you`re going to get anywhere. It should not be confused with handling charges. Some banks charge management fees separately. This fee is collected to cover the administrative costs of processing the application. If we define vaguely, processing fees refer to initial costs such as ODA costs, etc., while management fees are charged for processing loan applications. The bank may waive the processing fee, but the management fee will be the same 🙂 Yes, SBI currently charges 5 basis points more for MaxGain loans. Thus, the normal loan is available for 8.30% for female borrowers, but Maxgain is available for 8.35%.

For male borrowers, the same interest rates are 8.35% and 8.40% respectively. (as of January 2018) 2. Am I taking a risk? How long does it usually take? Jerin: I also chose SBI (nationalized bank) for the same reasons. Another thing is that, unlike HDFC/ICICI, SBI will not have any hidden costs/other fees and their legal control is much stricter than any other bank, which gives us good confidence in the property. I am not sure about the other banks. As I mentioned in question 1, the Hoem special loan branch usually takes a maximum of 8 days to be approved. But in my case, it took about 3 weeks because there were audits going on in the industry. In a case where a TIR is required, the normal fees apply.

Previously, the bank waived mortgage processing fees until March 31, 2021. Hello, I transferred 4L from the savings account to the OD account. But I only got 3.9 L in OD. Is there a fee to transfer my own accounts? We are not aware of any such allegations. Please check with your bank. Prepayment charges will be waived, but only for floating home loans. Some banks charge prepayment penalties if the funding does not come from their own source, i.e. third-party financing, including takeover by another bank. The prepayment penalty continues to apply to home loans or loans under special regimes. This head is a princess of Home Loan Hidden Charges 🙂 Statutory fees are deducted as part of the eligibility process to which the bank submits each of its borrowers. This will be charged for the review of your documents. I hope this helps.

What does the rule here say from a legal point of view, should we opt for the reference value or the undivided value of the share of land in the deed of sale? Is the purchase contract in SBI stores different from SBI? The title deed memorandum is an obligation of the borrower that he has filed the ownership documents of the property with the bank at his own request and that he will do so in order to guarantee the financing received from the bank. The government imposes stamp duty on this document in order to. Fees vary from state to state, but are typically 0.1% to 0.2% of the home loan amount. This is one of the main hidden fees for home loans:) Hello, very nice information. I just need information. Have you ever heard of SBI`s SLOP fees? (SLOP stands for Supplementary Legal Opinion). You deducted INR 1000 from my loan account in this regard. I just want to know why it is necessary and if so, why the customer has to pay for it.

Rajesh banks like SBI do not have in-house lawyers to validate the legal status of the property. They hire outside lawyers for this work. The fees of these lawyers are collected from clients under the heading of lawyers` fees. Let`s say you took out a home loan in Chennai from HDFC Ltd. HDFC`s central depot is located in Mumbai. All important documents will be transferred to Mumbai and general documents will be transferred to Chennai. Once the loan is completed, HDFC charges a fee to retrieve documents in order to transfer documents from Mumbai to Chennai. The best-in-class messaging service is used for a safe transfer. At the time of withdrawal of the loan, this fee is included in the processing fee.

Hi, I am planning to buy a property in Bangalore. I also received legal advice from SBI to apply for a loan from SBI. My question is whether the legal opinion guarantees the sanction of SBI Bank`s loans? Suppose I enter into a purchase agreement because I have received project approval/legal advice, so am I concerned that after the purchase agreement is concluded, there will be a possibility that SBI will not approve the loan? As you suggested, I went to Home Loan SBI Branch and later to Nashik RACPC to figure out why the account was opened as a term loan rather than Maxgain. I don`t have an exact reason, but they said he could be converted into Maxgain. The catch is – the fee required for this would be around Rs 23,000/-(0.56% 40 lakh + 1,000). Since my loan was approved 4 months ago, the rate was different than the current one. I am not very enthusiastic about changing it by paying such a high fee, but I am willing to understand your opinion. Maybe I don`t think logically or maybe I haven`t given complete information. Real estate loans require many documents such as mortgage agreement, MODT, indexation, etc. Although standard formats are still used, fees apply to complete this documentation.

Prior to loan approval, a physical inspection of the property is conducted to determine the valuation of the property. It guarantees that the bank does not have the loan because in case of default, the bank can only collect its fees by auctioning the property, for example, if the valuation of the property is 1 Cr and the bank approves a loan of 1.2 Cr. In this case, the bank cannot recover the costs in case of default. Obviously, these costs are claimed by the customer. Document retrieval fees are the fees charged at the time of closing or pre-closing the loan. These are essentially the costs associated with transferring the original documents from the central repository of documents to the borrower.