There are several points which you have to take care when taking loans from these banks. First of all make your mind to take up a loan from a nationalised bank keeping the thought away that they are the worst in customer service or work wise or interaction or paper work or moving your file from desk to desk.
The only advantage is only the intrest rates because these people don’t change the interest rate like private banks this is the only advantageu might ask only for this advantage why I have to go for this.answer is pretty simple until you get the loan sanctioned u have to toil a little bit but after it is done then no headaches even if one month EMI is missed then you can pay that back without having the headache of goondas or rowdies.( I am saying this b’cos I have taken a loan from nationalized bank itself). only thing is if you know the manager of the bank then with few days everything will be done. you can even get a discount in intrest rates. Mostly atelast 0.25% less than the normal which is almost 250/- less per lakh of loan taken.if it is 20-30lac then this amount will be a huge amount in EMI’s.
So better is go for nationalized bank with little bit toiling for the documents until the loan is sanctioned.