[Resolved]  State Bank of India, RACPC, Coimbatore — DELAY IN PROCESS OF LOAN AND LACK OF COMMUNICATION

Address:

Tamil Nadu

Sir,

I hold a savings bank account in State Bank of India, Veerakeralam branch of Coimbatore.
I had applied for House-Mortage loan in October 2010. For the same property i had availed housing loan which i have repaid and closed but i have not taken back the document from the bank still.
Till date , the loan is in the "process" though , once in a fortnight i am assured the loan should be through in a week. I had been after the officials continously and tired of the hassle and empty promises.

I need an explanation towards the following:
1) The staff at SBI are not aware of the procedures ,criteria etc.,required for mortage loan.Why does SBI provides for a loan when its own officers are not trained in processing it?
2) Both my husband and myself are salaried people with reasonable income and the property is worthy of mortage (for which a home loan was given and completed) with no encumberances whatsoever arising on a date after we bought it. So why is the process delayed?
3) I have submitted the application in October 2010. Till now I am not able to get the loan. There is always a steady answer that it is under process! How long? Why do i have to follow up the loan?Is it not automatic that once application is submitted, the papers are set on a roll ?
4) Just because SBI is safe bank for me (who had been its loyal customer for more than 25 years and been rather a customer par excellene which can also be verified!), do I have to face their indecisiveness, poor judgement of customer/property worth and procrastination? Or is it acting suicidal driving away its bankable customers to private banks?

Sincerely,

N.Geetha
Sr.Scientist( Entomology)
Sugarcane Breeding Institute, Coimbatore-641007
Tamilnadu.Contact No. :[protected]