Never go for a ADF ( Advance Disbursal Facility ) Banks would try to push, so would builders and developers. But refrain from this tempetation of disounts. When the project gets delayed or interest fluctuates you will in big losses. I have Very Very bad experience with very prominent builder and bank MUMBAI. They both cheated me, My gut feeling is they were in hand and glove. Without my approval my bank dispursed the full amount then coaxed me into signing it. Like I said the bank and buiders /employes are into this. SO JUST KEEP OFF ADF.
I need some guidance on to decide which is best loan. If i have approached 3 to 4 banks , all 4 banks decided to give loan with same interest. How should i decide which is best. Please give me guide lines. Thanks & Regards Prasad
The analysis does not take into consideration the following facts >> In the ADF case part of the EMI goes towards principal that part should be deducted before calculating the difference cause in the PreEMI case the whole is interest. >> U also need to factor in the sops given by the builder like lower rates in case of ADF which can be quite a considerable save if the builder is desperate for cash. And which will reduce the loan amount, registration and stamp duty.
Hi,Point to be noted is While taking the pre EMI option we need to have the additional amount saved (Rs 3,23,280 ) as a lumpsum to invest for 20 years into some kind of instrument which should give us returns at 10%!.If we had this kind of money at the beginning y go 4 27L? y not 24 L?
Now Bank are offering EMI-Underconstrucion scheme in which your EMI will start from the first disbersal and tenure will remain same as 240 months. You wont be paying Pre-EMI interest.
Re: You can go for EMI-Underconstruction Scheme
by vaibhav misra on Aug 29, 2010 03:28 AM Permalink
This is again a big misnomer,why should one pay EMI before posseion,just to lessen the burden of Principal & Time? If you feel you are a good investor save diff of money EMI-Pre-EMI in good instrument and pay that amount as pre-payment before possession
