SBI Realty Loan or Personal Loan for purchasing Plot of Land

In this video I have explained that if you want to purchase plot of land then you should go for the personal loan instead of SBI Reality Loan there are many benefits in and losses in both the loans I have compared a detailed comparison:

1. In SBI Realty loan you have only five years to make some construction and show to bank otherwise bank will charge commercial rate on your loan.

2. SBI Realty loan required lot of paperwork including property papers which are very difficult to complete.

3. SBI reality load comes up with extra cost like valuation report, cost advocate title search investigation report report equitable mortgage creation charges All these charges are to be wear by the customer In personal loan there is not any such kind of charges Only processing fees is there.

4. In SBI reality loan and if in future you want to sell the land then first you have to close the account loan account then only you will get the original paper While in personal loan there is not any such binding You can sell your land of plot at any type whenever you will get a good price in market.

5. although personal loan is quite expensive as compared to SBI reality loan there are difference of two to 3% between the rate of interest of personal loan and SBI Realty Loan.

6. you have to visit many times the branch as it required lot of paperwork and lot of formalities which require lot of follow with the branch Hey
but in personal loan all the things can be done digitally and in easy way.

Chapters:

00:35 For Plot go for SBI Realty Loan or Personal Loan
00:50 Plot loan amount depends on DLC rates
01:35 Time limits of 5 yrs for construction in SBI Realty Loans
02:46 In SBI Realty Loan property papers are with bank, not easy to sell
03:53 SBI Realty Loan come up with some additional costs
05:08 SBI Realty loan is lengthy process
06:24 Plot Loan required lot of paperwork as compared to personal loan
07:24 SBI Realty Loan required lot of branch visit
08:14 in plot loan some banks insist on co-applicants
09:26 In personal loan interest rates are higher
09:49 Some disadvantages of personal loan against SBI Realty Loan

Murari Garg

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SBI Realty Loan Vs Personal Loanloan for purchasing land plotpersonal loan for purchasing plot