I am from Chennai. I want to apply for a loan for the reconstruction of my house. DHFL approached me for a Rs. 5 lakhs loan. They said 50000 interest for Rs. 5 lakh for 5 years. Compared to other lenders, their Interest rate is comparatively low.
They said 500000+ 50000 (interest)= 9166 EMI FOR 60 MONTHS (9166*60)= 550000.
They asked me to take insurance policy for 30000. They said they will double the amount when I repay the loan after 5 years.
Advantages:
10% flat interest rate. Insurance they will double after 5 th year. Successful payment of loan. But I am surprised with their reviews on the blog. Please advise. What are the things I need to take into account? Can I go ahead and apply for a loan from DHFL?
PLS ADVISE...