Aug 20, 2017 07:04 AM
1862 Views
(Updated Aug 20, 2017 07:04 AM)
Lot of us know about the poor quality of service from SBI, inspite of this I made a mistake opting for SBI Home loan. The whole tamasha started after the first checque was released. Initially I was informed charges involved are 0.35% processing and 0.5% mortage fee, how ever after days my account was debited for loan insurance coverage, later debit for property insurance, later debit for legal charges, later debit for processing fee which in total I was bombarded with unnecesary charges with out even informing me initially nor at the time of debit. When I ask the bank officials they say its ure head ache to read all terms, when asked I should have been informed when I asked if ther are any hidden charges for which they say they dont have to as it is understood. Just an illustration below
Total= Processing Fee+ Mortgage Fee+ Loan Insurance+ Property Insurance+ Legal Charges
Total= 7500+ 12500+ 45000+ 20000+ 12500= 97500
Just to process a loan of 25lac if it costed almost one lac some big names who defaulted recently would have paid in crores for getting the loans processed. Now I understand why the bank NPA have bubbled in no time.
