I have taken a car loan from ICICI bank and would like to close the loan as I am moving to USA. I have contacted Bangalore, MG Road main branch. They have told me it takes 3 working days to get my NOC(No Objection certificate) after realizing my cheque. I have given cheque and the money has been realized to their account, then I have received SMS saying that as a process it takes 11 working days to get NOC. Without this NOC, I can not register my car to the person who has given me advance to buy my car. My date to travel USA is this next week. When I went and spoke with manager, she has no control over this process.
I feel these banks are not showing any interst in encouraging people who want to pay loan amounts, rather they wanted us to have this loan burden on our head forever and these banks will enjoy the interest we pay through EMIs. If I see walls in the ICICI bank, there are posters explaining about how customer gets loans in a single day. So it means that they are taking 1 day to grant the loan of any amount, but takes 11 days to give me letter saying that I have paid my loan, though they have taken the amount on very second day. Does it means that they dont care the sentiments of common indian who would like to get rid of all loans he/she has by paying all of them bank to financial institutes?
Looks like these banks are assigning all their employees in the loan giving section and ending up with no staff for loan closing works. This is radiculous in the cases like me who wanted to sell the car before going to USA and already taken advance from buyer based on their initial promise and now ending up in conveincing the buyer for unplanned delay and not sure whether it will happen before I go to USA.