Ok so I pitted three major banks against each other and they have matched each other to the T. Here's how it goes: Loan amount - Rs 700,000 Tenure - 60 months ROI - 11.5% fixed Monthly reducing method EMI (advance) - Rs 15,249 EMI (Arrear) - Rs 15,394 HDFC - 50% discount on (Processing fee + Stamp duty) i.e. total Rs 2,250 - NO PART PRE PAYMENT ALLOWED - Foreclosure charges - 1.5% of outstanding loan Axis - 50% discount on (Processing fee + Stamp duty) i.e. total Rs 2,250 - 2 part pre-payments allowed in one year - 10% (plus service tax) of prepaid amount within first six months. 5% (plus service tax) afterwards. Two pre-payments allowed per financial year. Kotak - Processing fee + Stamp duty is Rs 3,600 - Foreclosure charges - 3% I'm going in for processing with HDFC and Axis as of now. Although I'm tilting towards Axis as it allows part pre-payment. Although I have my salary account with HDFC but their attitude/customer service is appalling. I was expecting a pre-approved loan with them but they inform me it is not so! Any grossly negative reviews about either bank? Also, still not decided between Advance vs Arrear option. Anybody here who can give me a solid convincing argument?