Me and my family is building a house in Madurai city. I submitted all my documents for getting loan to Repco home finance Madurai during end of February 2012 . They assured us to give loan within 20 - 30 days. Later when we contacted them they told that they are processing it and they will give it in one week. After some days when we contacted they told that they require some more documents to process loan. We produced that documents, and again they asked for some more documents, we produced that too, and they started asking some new new documents every day and we produced it every day. During this course they asked for a fees of 29,000 and we payed that too. They repeatedly asked some documents which we have already produced (they dont maintain our documents properly, they keep on missing some documents regularly). By this time it crossed almost 4 months and at last they called us on 28th June 2012 and told that they cant process the loan because of some document issues and so we collect back the money. But they gave us only 24,000 back in our hand saying that its the processing fees.
This is really a big cheating, they gained 5000 without doing any work.
All the peoples inside the bank are expecting bribe from us.
since we didn't give any bribe for 4 months they rejected our loan saying some nonsense reasons.
If there are some document issues, will it take 4 months to reject the loan?
Nooo, The Complete corrupted institution is REPCO Home Finance.
Please don't prefer REPCO home Finance. You will not get Loan.
Waste of time, money, energy and all.........................