Owner-shared experience, not financial advice. Confirm with your own bank.
Q: My bank is delaying disbursal saying construction isn't far enough. Is that valid?
It depends on what your loan is pegged to. Banks disburse either on the AOS timeline (stage dates in your agreement plus the builder's demand notice) or on actual construction progress. If your tripartite agreement commits the bank to the builder's schedule, they generally can't refuse a due disbursal for progress reasons. Raise the specific AOS clause with them.
Q: Is superstructure completion treated as a milestone?
Some banks count superstructure completion as about 50%. If your tower's superstructure is done, that's a strong basis to push for the linked instalment. Use the Construction Tracker as supporting evidence.
Q: What proof does a bank accept for a stage?
Typically the builder's demand notice, an official progress letter, or geotagged photos. Ask Prestige for a progress letter if the bank won't accept photos.
Q: What are the current best rates, or can I do a balance transfer?
Owners have shared takeover offers (e.g. Bank of Baroda, indicative around 7.20% and up, subject to CIBIL and other parameters). Verify before acting.
Bank comparison (owner-reported, verify current terms):
Bank of Baroda: disburses on AOS timeline plus demand notice; loan takeover offered; rate depends on CIBIL and profile.
- HDFC: reported to tie disbursal to construction progress; some owners reported valuation friction.
- (Add your bank and your experience here)