[Resolved]  Axis Bank — Home Loan Complaint

Address:

Ghaziabad, Uttar Pradesh

All:

I gotta a feeling that it was the worst decision day I decided to apply house loan from AXIS Bank.

It all started last Year December (December 2010) when a representative from your bank came to me that you can apply for the loan.

Person Details
Vikas (DSA)
Contact Number: [protected]

Though later i come to know that this guy is from DSA.

I gave him all the required documents and he got my loan Sanctioned. With documents he took the cheque from me of 5515 amount saying me that once the loan is sanctioned he will return me the cheque and will take the fresh cheque of full amount 11030 . I told him in advance that i don't have enough money in my account if you even want to place this cheque let me know. But axis bank placed the cheque without informing me. So cheque got bounced. Then i called him to enquire about this he told me you don't need to worry i have talked with my seniors give me the cash i will deposit it. I gave him the same and give me reciept as well. I have encloosed that slip in attachement.

Now I got the Sanction letter (AXIS/10/CAD/HL/272). I asked him to apply for the loan gave him all the required documents. He told me he started the process. But everytime I call i told me it's taking time give me 3-4 days. So I decided to go to axis bank Indrapuram branch. There i met

Vikas Mehan (Loan Manager)
[protected]

Shikha (Executive)
[protected]

Chetan (DSA)
[protected]

There were still 15 days before my sanction letter was about to expired. But they were again not able to disperse the loan and hence my sanction letter got expired.

So now i ask them for the solution what can be done As i required loan as soon as possible. VIkas Mehan told me that we have to get new sanction Letter for you but that would be at current interest rate. As i have no choice i agreed but that cost me a lot. As now interest rate was 1% higher that the previous one.

Again i gave them all the documents and they got my loan Sanctioned. Sanction letter:

Approval NO. Axis Bank / PH_LNPHG_FLOATING / 469146 / RAC - GHAZIABAD RAC / 11 -12

I told to disperse the loan. But they again start delaying the process by every time giving new unjustified reason. I told that i have demand date with a month. But no one was taking it seriously So i decided to escalate it, So i met

Ajay Hanspal (Bank Manager)
Contact: [protected]

Ajay talked with these guys but still no use. They started the process but at last time (After Six months the process started) they told me that they can't disperse my loan as you inital processing fee cheque got bounced. I ask them Following question which they don't have any answer

1) Why then you re sanctioned the Loan? Why this thing was not catched in your technical and legal queries then.
2) Why You don't told me when it happen in December 2010 and took away cash from me saying that it doesn't matter.

I leave all the hope of getting the loan from your bank i decided to move on. But i got the call from VIKAS MEHAN saying that we have raised the conncern to higher managment, We got the approval from them and they are agreed to disperse the loan. But Still It's been a month they are pursuing the process and not able to disperse.

Can Someone from axis bank is responsible enough to take actions and disperse my loan. I not talking about the sufferings and interest that i have to pay the builder due to your irresponsible behavior. Beleive last six months is worst dealing i have ever recieved.

And who is responsible for Followings:
1) Loan Interest rate got up due to NEW Sanction letter.
2) I have to pay the builder interest due to late payments because you din't disperse the loan even after commiting it.
3) I have to took up the money from market on interest to pay the builder payement.
4) Time I wasted you calling you guys again and again. Many times i vistied your bank. You guys are just Fearless that nobody will take action against you. You now don't disperse the loan I will show you how to deal with it.

Thanks,
Rohit
[protected]