Dear Sir,
I would like to bring this to your notice that your staff has harassed me to the core in the last 2and a half months. My understanding of GIC service was so good that I promoted it to my friends and colleagues when I first borrowed a loan of 90K in 1996 File 1592/1925 G00973. However, I am very concerned with the level of service that GIC has to offer now to its customers, despite of continuous follow up, I am being given false promises for the last six weeks that the payment would be disbursed.
I cannot express this in writing what I have gone through since I applied for this loan. You staff certainly do not understand the fair practice code to its customers, there is absolutely no communication of what documents are required, every time a new piece of document is requested which holds up the disbursement. I was given wrong guidance by your Vinayak Joshi, initially the offer of 7.95% was not communicated clearly that it would include KLI (Kotak Life insurance), when the cheque was done there was a confusion that KLI would be disbursed part of the loan amount. I had asked for a loan of 26lacs initially for the new property (Vijay Vatika) and I also had a renovation loan for 5lacs for my existing property these was approved. In my discussion with Vinayak he suggested that if you go for 25 lacs this would done in one week's time this was mentioned to me in the first week of October. I agreed to this, later on when the chq was about to be disbursed the KLI factor cropped up and he now advised that you take KLI and we will give you 6 lacs on your renovation.
I did not agree to this proposal as I already had myself covered for 25 lacs from my company. This further delayed as it was sent back for correction, I had further asked that I would like to avail the 9.45% fixed for 2 years I was suggested that floated is good as the rate of interest is likely to remain same. I do not understand why they do not act what the customer wants. The branch incharge Sanjay Koppikar told that the sanction for my renovation is done and that I would get the loan for 4.5lacs, now he is saying that it is put on hold, further he states that loan (Alwyn) for File 9284 will be done first then we will see the other, . I just dont understand why this all cant be done together, what is the relation between these two files and in a day can only one disbursement take place. When Sanjay was on leave he told that Vinayak is following up and will do the needful if I have to call and ask the status I get the same answer that he will call be back and advise which does not happen and my calls do not get answered I am at a loss to understand how GIC functions, the other reason quoted is that the sanction authorities are on leave and hence this could not be done. In the last 70 days this has be going on and on without any conclusion. To my knowledge I don't think any of the Institutions / Banks would have taken this amount of days as mentioned, and in fact GIC could have very well rejectecd the file if they were not in the position to sanction the Loan so that I could have much more time to go to another Institutions / Banks. Now I have already landed up paying Interest on the delayed loan amount @ 18% p.a.
I would like to seek the advise or how do we go about with this matter and get this soughted out with good results so that in future another salaried person like me should not be harassed.
Regards
Macquine Sumantha
91 9920950547
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