[Resolved] Axis Bank — Non disbursement of loan amount | |||
I applied for home loan from Axis Bank, sector 18, Noida in November 2010. The bank asked for some of the documents which I submitted to them. They also took the processing charge from me which was deducted from my account in November only. Now after more than 2 months of my application, they still haven't disbursed my loan amount. They donot even make any communication with me. I really feel very disgusting. The builder from which I have purchased the house is asking for the money everyday but I have nothing to give them other than excuses. I am very very depressed. I don't know why the hail I applied for home loan from Axis Bank. Had I applied from any other non-government bank like HDFC, I would have GOT the loan in no time. I am really really heartbroken :-( PLEASE PLEASE HELP ME. Divesh Kumar Mishra Faridabad [protected] Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 1 Comment | |||
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Axis Bank Limited Corporate Office, Bombay Dyeing Mills Compound, Pandurang, Budhkar Marg, Worli, Mumbai, Maharashtra, India - 400025
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I am Mahesh from hyderabad. I also applied for home loan with Axis Bank, Secunderabad in September 2010. I have submitted all required documents. After a long process they have given me a sanction letter with a loan amount of Rs.800000. While taking the documents they have also taken a cheque of Rs.5500 and the remaining process fee (i.e. (1% + service tax) on loan amount) have been taken when I got the Sanction letter.
But, the problem started after the loan got sanctioned. Even, after collecting the processing fee and giving the sanction letter, they are not disbursing the loan amount yet. This was very much disgusting and when I contacted the broker who have done the process, he is saying that the bank have re-valuated the property and plot does not have the same earlier value and that is why they are not releasing the funds and ultimately he has given up and asked me to approach the bank directly.
Here my question is why have they sanctioned the loan without completing the valuation process and why did they take the processing fee when they are not able to release the loan.
Please help me out how I can this issue.