In reference to my home loan application which was sanctioned by Axis Bank under PH_LNPHG_FLOATING/616822/RAC- FARIDABAD RAC/11-12 Dtd 7th Sept, 11.
I would like to bring to your notice that the processing charges of 11, 030 is unfair which was debited from my account by Axis Bank - Home Loan Deptt.
Initially when we submitted the documents for home loan sanction we have provided the booking application form that clearly mentioned that the flat is booked under balance on possession payment plan. Even got a call from Axis Bank at the time of loan sanctioning. In that telecon i have clearly stated that i am looking for a sanction under balance on possession (30-70) plan. The person on the telecon confirmed that it won't be a problem. Then the cheque of 5515/- was debited from my account on 9th Sept, 11 after the loan is sanctioned.
After the loan got sanctioned, I got the demand letter from the builder for the first payment. On account of which i have made the requisite payments (6, 85, 000) from my side to the builder by 1st Oct, 11. Our file was logged in Axis Bank on 3rd Oct and after 2 weeks i got an answer from our DSA that Axis Bank has rejected the disbursal as Axis Bank has not approved the "Balance on Possession" plan. However my second cheque of 5515/- was also debited from my account on the second day of file logging i.e., 4th Oct, 11 inspite of any disbursement. To my utmost shock after 2 weeks i was not expecting that Axis Bank will deny the disbursement - while loan was sanctioned and howcome 2 weeks were taken to respond on the disbursement status.
We had to make the payment pertinent to the 1st demand to the builder on 29th Sept, 11 7 days grace but because of Axis Bank Home Loan lethargic disbursement process it took 2 weeks to come up with an answer. Hence, we have missed out on the payment timeline provided by the builder..
Hence, i think Axis Bank needs to re-examine the process of its home loan by atleast informing the customer on time regarding his/her disbursal status or at the time of sanctioning the loan.
I have been following up with the bank on the same to refund the unfair processing charges of 11, 030/-. I have already dropped four reminder mails to the Axis Bank Faridabad Branch customer care (Customercare. [email protected]) and till yet i have not got any revert or any reply from them - Pathetic service standards.
Also i came to know from other sources that Axis Bank has done disbursement against the Balance on Posssession (30-70) payment plan against the same builder project. So howcome my disbursement is refused. I also feel cheated on the same.
The cheques cleared from my account of amount 11030/- is against unfair charges hence i am looking for the compensation of the same. I have got my home loan cancelled from Axis Bank.
Regards,
Gaurav
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