Once the loan is sanctioned, the bank sends you an offer letter mentioning the following details:

  • Loan amount
  • Rate of Interest
  • Whether fixed or variable rate of interest linked to a reference rate
  • Tenure of the loan
  • Mode of repayment
  • If the loan is under some special scheme, then the details of the scheme
  • General terms and conditions of the loan
  • Special conditions, if any

Acceptance copy, if you agree with what is mentioned in the offer letter from the bank, you will have to sign a duplicate l letter of the same for the bank’s records. Earlier, banks used to charge administrative fees along with the offer letter. However, with rising competition, administrative fees have virtually disappeared from the home loan market.


  • Check if the rate of interest mentioned and the loan amount on the letter is the same that was discussed and agreed upon.
  • Home loan rate of interests can be negotiated, use the fact to your advantage.