Jan 05, 2008 12:11 PM
2157 Views
(Updated Jan 22, 2008 12:41 AM)
Do not take a home loan from this bank. At the time of sanctioning the loan they are really helpful because they know that once you pay 17K for loan processing there is no way back. When its time to give the money that when all the trouble begin.We faced problems at every step of the way. But the worst part is that they ask for the house registration documents but refuse to give a proper acknowledgement letter on the banks letter head or stamp to us -- That's their policy. YOU (The bank does not automatically do this) have to wait for 2-3 weeks before you can send a request for the acknowledgement letter (and pray to god that the docs dont get lost in those 2-3 weeks). There is no written agreement between the bank and you, as to what steps it will take to recover the documents if they get lost (so basically good luck running around from office to office begging and asking what happened to your documents).
Stick with HDFC for home loans they have been doing this for a long time and are really good.
Added an update to this review(21/1/2008). -->
Its been 15 days since I have submitted my documents and still no cheque. Every time there is a demand for some new document for verification -- They have all our original documents (I really hope they don't loose them). 3 People have come home to verify the data. The builder is constantly asking us for the money and ICICI has new requests for documents every time.
We have told them so many times give us one definitive list of documents that your require once and for all and lets get this over with -- but no luck....To make matters even worse is that fact that I am an NRI and was in India till last week asking them, "is that all that you need because its difficult for me to send documents over and over again and want to get everything in order while I am in India". This week they told me that they need my original Power of Attorney -- giving it is not a problem. But sending a new one from here as a second copy for my parents is again going to be a pain. I just hoped that they would have told me about it a week ago. I would have at least got another POA made in India for my parents just in case they require it for other purposes.
