[Resolved]  Bank of Baroda / Home Loan — Delay in loan sactioning

Hi All,
I wanted to get my housing loan transferred from ABN Amro Bangalore branch to Bank Of Baroda, chennai branch. As I analyzed all the bank ROI, I felt BoB is better & promising the loan to be approved in 6 days. I submitted all the required documents on 14th July 2009. Later they didn't turn up for 1 week. Then I called and found that they needed few other documents. It was ridiculous that they didn't call me and told that they need the documents and that too the documents which they asked were from the builder, where as the builder has handed over the apartment to association and left the premises 5 years back. I tried to convince them but they said its not possible to move forward without those documents. And I somehow managed to get those documents from builder and submitted. Then asked next set of documents and again I did the same with lots of pain.

After 1 month of documents submitted, I was keep on calling them daily to check the status and everytime when I called then only they will start looking into the progress. They never called me and update the status. Finally I got the clearance from Bangalore BoB branch & they sent to Chennai BoB branch. Then here they started their process. Now they are saying that the loan is almost sanctioned and waiting for my guarantor verifications. Since my gurantor is my dad and lives in my native, they said they will send a person from nearest branch to my native for verification. Its been almost 1 week over that and so far none has visited my native.

They gave a phone number to contact & give pressure, but that number was out of service. The story still continues. I keep on calling them and they keep on putting me on waiting list... Not sure when the marathon race will end.

If you guys are really want to get the loan at the earliest, I WOULD SUGGEST TO GO FOR ANY BANK OTHER THAN BANK OF BARODA.