State Bank Of India — Flood loan

Address:	Kanchipuram, Tamil Nadu, 94+
Website:	SBI

On 27.1.2016 I had approached my branch of SBI for getting flood loan. On enquiry it is learnt that the amount of flood loan is three months net monthly payment and the rate of interest is 13.2., 14.2. and 15.2 and the loan should be repaid in 36 EMI. It is not justified as there is personal loan available with all banks being given 8 lakhs maximum and the rate of interest is less than the flood loan. This is the loan being given by SBI. The loan being by KANDUVADDI is much better than this flood loan. The flood has taken away our household articles and SBI is giving hand to recoup it at the cost of our blood i.e., high rate of interest. The rate of interest must be less than 10% as the flood loan is being given one time and that too for certain area of flood affected. Hence SBI should reduce the rate of interest to less than 10% and the maximum amount should also be increased.