May 19, 2013 12:02 PM
6759 Views
I have taken home loan from SBI, even after reading all these negative reviews, just because
Their interest rates are lowest and won’t jump significantly after 2 years (like in case of LIC).
With MaxGain facility, I could save about 20k easily per annum, which is huge.
So, I went for SBI, agreeing to the fact that it may take longer time, and I may have to visit the branch frequently.
I went to PBB Indiranagar, Bangalore for inquiring about all facts. Mr Chandroo there was very helpful, he gave me a detailed document which contained all the procedure and required documents and charges. He calculated eligibility and explained in detail about everything. He also warned me that SBI will take its time and if I don’t want that, I may go with some other bank. But I was ready for that. :) Even though I hadn't done agreements, he initiated initial verification process about my residence and company.
Since my agreement was taking time, I went again later with just the sanction plan of flat. He accepted that and started engineering evaluation. After agreement was done, I went again with all required documents, he took all documents and started legal verification and also took CIBIL rating.
So far everything was smooth. I got sanction approval sms in about 1 month of application. Now, here things went wrong. The RACPC branch had sent me email on combination of my personal and work email, and thus mail never reached me. For this, I wasted entire 1 month frequenting branch too often, but all I get was a phone number which I should call to get an appointment with RACPC branch. But that number was either always busy or switched off.
Finally I was able to call this number after 1 month, and the person said that email was already sent 1 months back. Anyway I booked the appointment. Since, builder was also pushing on me, I visited the RACPC branch myself to get more details. The person confirmed the appointment and gave me details on documents to bring.
On appointment date, I went with mentioned documents. My given time was 12.45, but I arrived at 12 itself. The documentation went super smoothly, and my 1st disbursement was done within 2 days. Only negative point was that they also filled form for credit card, which I didn’t want to. But as the person said that I will get the annual charge as gift voucher and then I can close the card, I agreed.
So, over all apart from unnecessary credit card and 1 month delay due to sanction email misplacement, I had very good experience with SBI. The loan account was visible in my online account on same day of sanction.
