Mar 25, 2008 09:50 PM
4266 Views
It has now been 23 days since I applied for a home loan with Axis bank. My installment for the apartment is overdue and the bank is yet to do anything on my application.
When I apptoached the bank for a home loan - since their interest rate was .25% lower than other banks - their executives promised me that sanction would either be done / refused within 7 days. I am fully eligible for the loan I am applying and when the executives saw my papers, he confirmed the same. SInce the day I handed over all papers, it is now 23 days, I have been following up everyday, they keep telling me everything is done and we will issue the sanction letter today - but nothing happens after the call. For the past 2 days, thier executive is not pickig up his phone.
3 different sets of ppl came from the bank to verify my house / office etc and also at my wifes place of work. After all the veirfication etc, they confirmed that I am eligible for the loan - that was 15 days ago. God knows what happened after that but we havent got any information - I wish they would have refused, I could easily have got the loan from any other bank. The worst part is during this entire 23 days, they have never bothered to call even ONCE to inform or update about anything. They have already charged a processing fee of Rs. 5000 /- which is non refundable.
I am writing this here, and a link of this I will be emailing to their MD / head office. If I dont hear from them by tomorrow, I'm cancelling my application and will ask for a refund
