By: Pallabita Ghosh

Pallabita Ghosh — Wed, 14 Oct 2009 12:06:15 +0000

Although SBI is boasting of giving loans at 8% I.R. during 1st year and at 8.5% for next 2 yrs., this glittery picture is of no use to the home purchasers in view of the kind of time they eat up for sanctioning the loan. I have a very painful experience with SBI in terms of every kind of dealing, be it availability of the branch manager, time for preparing advocate search report, valuation, access to the dealing officers at RACPC at BKC. The atmosphere is totally customer unfriendly and unprofessional. I had submitted my application for home loan with each and every requisite documents on 05.9.2009 and still waiting to hear from SBI. It is almost impossible to take a feedback from anybody from SBI. The builder has already started pressurizing me to pay up with interest. In due course of time all the so-called benefits due to low interest rate will become useless to me. SBI must realize that merely reducing interest rate will not make them the leaders in the market. Already my builder has stopped selling flats to the people who intend to take loan from SBI. There are many such builders who also discourage the customers to take loan from SBI as they cannot sustain the delay imposed by SBI.

Comments on: State Bank offers cheapest home loans at 8% interest rate

By: Pallabita Ghosh