Axis Bank
Horrible experience with home loan

I applied for the site loan (power home loan) in Axis bank for 7.5 lakhs (actual value of site was 19 lakhs) and they agreed the loan will be approved with in 13 to 15 days. I paid 5515 Rs for processing fees too...

I informed the same to landlord that I'll be abe to pay the total amount in 20 days.

The loan processing started pretty quickly. with in 2-3 days they completed address verification site valuation.

then the story started. My representitive said I do not have approved layout plan so he needs to take deviation from management. he agreed to do so.

I waited waited and waited for 20-30-40 days nothing happened. finally after 1 month they asked me to go along with seller for showing the original paper verifications and after that again 1 more week no news. I escalated to higher manager but still no news. finally one day the representative came to me to extend the agreement for more than 1 month becos it was expired after 1 month. fortunately seller did not agree to do so. and again it dragged... finally after 1 month 15 days the manager calls me and again asks for approved layout plan :(I said enough is enough I dont need your loan... and I managed with my friends and finished the deal..

Over all the response from Axis bank is very very slow...

They say 15 days initially but it never gets over... very much disappointed with the bank service.

The worst part was my land lord was putting pressure asking when i'll do the registration after 15 days.. and I had no answer. It was nightmare to convince him and most tensed moment in my life. and processing fee also is lost :(

Vikram Patwardhan

9980169224

Company: Axis Bank
Country: India
State: Karnataka
City: Bangalore

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