[Resolved]  Axis Bank, Rk Plaza, T Nagar, Rajahmundry — delay in housing loan

Address:

East Godavari, Andhra Pradesh

I am an army officer presently serving in Nashik applied for housing loan of Rs 10 lac in axis bank, Kumari Talkies, RK Plaza, T Nagar, Rajhmundry. I had applied for the same loan in the month of Apr 1st week but so far there has been no response from their office. On asking the present status, they are always coming up with the excuse that it is under process. After a long wait and frustration, somewhere on 25 or 26 May 2012, when I asked the concerned loan executive, he said the sanction of loan is not possible because you are serving in Nashik and there is no RAC bank within the radius of 60 kms from your office and residence and hence we are unable to verify your residential and office address. When I asked them strongly that, 'if such a hindrance was there you shouldn't have accepted the documents of loan initially, why have you taken so much of time to come up with the reason for not sanctioning. it is ridiculous that Axis bank, Rajhmundry is unable to verify the office and residential address of govt officer serving anywhere in india'. I gave them each and every document what they asked for alongwith the cheque in advance for processing fee.

After this incident, the executive suddenly called me and said your documents are correct and complete in every manner and is likely to be sanctioned now as we have located one RAC bank nearby your location. Again they asked for self attested latest pay slip and a copy of bank statement. I had submitted that also. Whereas, they have not shown interest in sanctioning the loan so far. Now, when, I am asking the reasons for delay, the executive is always assuring me that it will be sanctioned within 3 or 4 days and giving contradictory statements and replies. On the other hand he is telling my agent who helped me in purchasing the plot in suvarnabhoomi venture that, the sanction of loan is not possible as he is serving in Nashik. They have wasted my time and money as well. Had they told me initially that the above loan cannot be sanctioned as you are serving in Nashik, I would have had looked for some other source. This bank may have to compensate my time and money if loan is not sanctioned end of the day.