This is with regard to the home loan that i had applied to SBI Bnagalore, JP Nagar Branch on Feb. The loan was for a property i purcahsed from a renouned buider at Gurgaon, many of whose apartments are being sponsored by SBI Gurgaon.
I had submitted all the personal documents from my side but after 6 months the application was returned stating that the legal documents from the builder was not adequate.
Having paid the bank the fees for legal processing i would assume that it would be the bank's responsiblity to collect and verify the documents from the builder and the onus does not rest solely on me. Nevertheless, i have been assisting it getting these documents to the bank from the builder personally.
Further, the bank has been insisting me for taking an insurance on the property failing whcih they will not process the papers. I agreed to assign all my personal insurance which is higher than the loan value to the bank as security but this was not accepted. Further, i failed to decipher from the SBI home loan guidelines that taking an insurance on the property was a pre-condition for getting the loan even though that was the impression the bank personnel gave me. i would like to have a more authoritative and written proof on this matter.
After 6 months i have been refused the loan but no concrete reason or an official refusal letter has been issued to me for that. I have requested an official refusal letter followed by a refund of legal processing fees but have been denied the same from the bank personnel. I have made multiple trips to the bank and innumerable phone calls but to no effect.
I will appreciate if i could be informed of an official reason on grounds of which my loan application was refused and why i have been denied the official letter thereof.
I assume that the money and salaries of the bank employees come from the public funds and It is therefore expected that the bank employees deal with their clients with more respect and responsibility. Myself being a very old client of SBI having multiple accounts, investments and assets in SBI am shocked and thoroughly disappointed at the behaviour of the SBI staff. Since this is a nationalized bank, it does not give the employess to take the public for a ride knowing full well that no action will be taken against them.
i hope to have a redressal of the matter at the earliest and compensation of the loss of my time and mental hararsement in the past six months.
I look forward to hearing back from you favorably at the earliest
Thanking you
Sincerely
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