Q. How is the wizard home loan? I have heard that the low rate is only for small time and they keep increasing the rate after every three months till the time it peaks out for existing customers.

A. Wizard is a home loan company basically from Australia and has a tie-up with GE Money in India.

Wizard Home Loans are available at an advertised interest rate of 9.99%. In present scenario, Wizard is providing home loans at one of the lowest interest rates in India.

This is a floating interest rate and thus can vary with market conditions. However, there is no indication that the interest rate is increased after every three months. It is early to make a judgement on regular loan rate increases since Wizard has been offering home loans in India since September 2007 only. Read more about Fixed vs. Floating rate home loans.

Other important things about Wizard Home Loans are:

• Loans Upto 90% of the property value and 25 years tenure in some cases.
• A processing fee of Rs. 5000 is charged with 12.36% service charge on the fees.
• They offer loan approvals within four days.

Here are the addresses of various branches of Wizard Home Loans

Wizard - Delhi

• 62, Dayanand Marg, Darya Ganj, New Delhi– 110 002
• A-17, Northex Mall, Rohini Sec-9 Delhi
• F - 14, Plot No 13, Manish Mega Plaza, Sector - 5, Dwarka, New Delhi -110075
• 4/5 B, Asaf Ali Road, New Delhi -110002.
• G - 9, Shivam House, Commercial Complex, Karampura, Opp Milan Cinema, New Delhi -15.
• Shop No. 13, LSC, B- 8 & 9, Vasant Kunj, (Opp. G.D.Goenka Public School), New Delhi - 110070.

Wizard - Gurgaon

• Shop No. SG - 4 , Galleria Market , DLF Phase - 4 , Gurgaon - 122002
• 140, First Floor, DT Mega Mall, DLF CITY - 1, Gurgaon
• SCF 92, First Flr, Main Market, Sector -14, Gurgaon.

Wizard - Noida

• UG-20, Parasvnath Plaza, Sector – 27, Noida, U.P

Wizard - Faridabad

• SCF No.6, Ground Floor Sector 17 Faridabad, Near Ekant Restaurant

Wizard - Hyderabad

• S-30, Shop No. 3&4, Shree Rama Towers, Kukuatally, Main Road, Hyderabad - 500072
• 3-12-64, Balaji Nagar, Near Kamineni Hospitals, L.B. Nagar, Hyderabad-500068
• Shop No. 1&2, 1 - 98/90/24/2 & 3, Near Indian Oil Petrol Station, Ayyappa Society Road, Madhapur, Hyderabad - 500033

For More information :

You can email them at wizard.homeloans@ge.com

Call their Customer Care helpline 39022333