[Resolved]  Axis Bank — home loan application

Address:

Hyderabad, Telangana, 500052

Dear sir,

This is with regards to a home + plot loan application i had submitted in axis bank in november. The application itself was lodge in late and updated on the system on 14 december 2018. I have since been approved form a personal financial of a loan of 30 lacs in december 2018. Post this i have had to wait for over 6 weeks for the technical review to start. On 1st feb i was advised on the phone that the there is no development in the area hence the loan is rejected. When i pointed out that the closest habibation of over 200 house is only at a distance of 200 feet from my property, they advised they will check and get back on 5th of february i was advised that the property is located far from the orr (Ring road) that why it's has been rejected. I have since written to the sales manager in the subject but received no response. Today on 8th february i have been advised that the loan was rejected as it is outside of your geo limits, which i do not understand either. Due to this delayed response from. Axis bank i have lost 3 months and now am in risk of losing my token advance as well as the property. I kindly seek your support to understand what go limits are and why a customer is not made aware of these limits / terms and conditions when the application and feeling is collected from a customer.

Kind regards
Saju varghese