The time taken to sanction and disburse best home loans varies from bank to bank. On an average, banks take around five days to sanction a home loan, provided all documents are in order. “There are a number of post-disbursement services involved. These include getting regular account statements and interest certificates on time every year. Choose a lender with strong systems and good record of after-sales service,” says Shetty.
After the loan is sanctioned, the bank’s surveyor will visit the property to prepare a technical and legal report. Based on the report and current market value, the valuation of the property will be done by the bank.