No, I am not being harassed by certain Mafia of hyderabad city. Neither I am being given tough time by my builder here(with whom I booked by ghosala) nor I am being bothered by some income tax authority demanding source of my (hard-earned ) money. Rather my recent set of hassles have come from most unlikely source, my bank. Despite being hoopla around SBI’s turnaround from age old bank to new modernized bank, I felt completed pissed off during my recent interactions (bunch of them) with bank for my loan approval/disbursement process. Offering lowest interest rate for my housing loan made them obvious choice, but what followed is real bad bad experience for me. It took them to 3 months to start disbursing loan after my application for loan has been approved.
I was asked to come down bank branch, umpteenth number of times for various documents. One such involve giving photocopy of my PAN card, (And we say that we are living technology age,I could have sent him scanned copy), Some visit to get my form16 document, Application form,Agreement of sales and many sundry document (oh dude, why can not they have list). Each such visit involved bunking atleast half a day work and more half a day for my mind to get in order again.
Once my all document have been submitted (so it has been confirmed by Bank manager), I felt at least now all processing would be fast. But that was just starting of my predicament. I did not hear anything from my bank branch for next one and half month, which raise certain suspicion in my mind. I called up them to check if everything is in order, I was given an assurance that my loan will get approved soon and I would be immediately informed of it. 15 days more went by, This time I thought of meeting with bank manager. After enquiring about my loan status for around 2 hours, I was informed my loan has been sanctioned 15 days ago(what the hell, nobody informed me about it) and they are waiting for certain sanctioned letter from certain SBI RACPC branch. With nothing more to argue, I left the branch for my office.
One of biggest surprised arrived for me when I received letter 2 weeks later from SBI RACPC saying that My sanctioned loan would be cancelled if I did not brought some more documents(as Mentioned in sanctioned letter) to SBI RACPC within 5 days. What the hell, I never received my sanctioned letter at first place. I called up my bank manager who unfortunately was on leave and refused to talk to me uncooperatively. Left with no choice,I was again going to same god forsaken place. Employees in bank declined to do anything with me at all and refused to have any knowledge of my loan application existence. Finally when I got hold of mr. manager 2 days later, he told me that sanctioned letter was here in bank branch for last 2 weeks(Angry smily, very angry smily).
I was informed that I need to carry new set of documents to RACPC(ECF, Bank NOC, Triparty agreement and many more).My builder took all the time in world for preparing these documents(with 1000 reminder). More 15 days passed by, I was only praying to god that my loan should not be cancelled atleast, I could not have borne the pain of going through loan process again. I was told that I need to come to bank branch to fill certain form to get an appointment in SBI RACPC(more red tape). Finally on auspicious day of 30th March, I have been given an appointment of 31st March. I left my team outing at ramoji film city in middle so that I could arrive on time( before SBI RACPC start giving hell of time)
It took 5 hours in SBI RACPC to get my documentation done and give cheque for my loan amount. Finally after 3 months, I was holding first cheque of my loan amount. When I hold it for first time I almost felt like winning amount in a KBC, which I never have to repay back.