Recently,BNP Paribas conducted a survey of the home loan Market in India.
The conclusions were as follows:
- Interest Rate Range:9.95% to 13.75%
- Rates offered by banks:9.95% to 11.75%
- Rates offered by NBFC (Non banking finance companies):10.75% to 13.75%
- Stronges Brand/Trust value:HDFC,SBI and LIC housing finance
- Most preferred among banks:ICICI,Axis,SBI.
- Most preferred among others:HDFC,LIC.
- Best due diligence:HDFC
- Best in efficency:HDFC (Less than 6 days to process)
- Rate difference between finance firms and banks:20 basis points.
- Who gives max commission to agents:MNC banks (1%) followed by NBFC’s and Banks.
- Who sells the max home loans:Agents account for 50% of loans being sold.Direct sales and cross selling teams sell the rest.