Axis Bank Ltd — Cheated in home loan tenure

Address:

Ahmedabad, Gujarat

I have applied for Axis Bank power home loan (Axis Bank Ltd, Loan Centre, 4th floor, Shivalik-Ishan, Near C.N.Vidayalaya, Ambawadi, Ahmedabad - 380006). I fulfill all their financial criteria and hence they have approved me loan amount Rs. 20 Lakh. However from the very start I was very clear to the sales person Mr. Kavi Dave (Asst. Manager) that I want 30 years duration home loan.
He did not say a single word to me at the time when I got my dad as my co-applicant. But when I got sanction letter of the loan amount 20 Lakh but with only 19 years of the tenure I was very surprised and asked him the reason.
He is now telling me that his junior forgot to tell me that because of my dad’s(co-applicant) age which is 61, I won’t get 30 years tenure.

I am very much frustrated because he himself was present at the time of document collection and neither he nor his team member informed me that I won’t be eligible for 30 years loan tenure which was my preferred choice. They won’t tell me or even given me a hint about it.

Now my processing fee has been eaten up by the bank and they are telling me to re-apply with some other co-applicant if I want 30 years tenure for the loan which is very un-professional because they want me to pay for their mistake.

In case I re-apply I lose my processing fee, legal fee and interest of the money related to token amount (which I gave to the seller), legal fee of the token amount’s contract and the time which will be consumed for such process.

I am tired now, chasing their marketing specialist who forgets you after you give them processing fee cheque and misguide you miserably in the process.

I strongly advice everyone to not go for Axis Bank home loan. I am also planning to reject their sanction letter for 19 years which was given by me by the way of cheating.