Hi Friends,
In the interest of the public let me share my experience of Housing Loan from L&T.
It is worst experience I ever had, I have taken loan from other banks or institutions as well but this kind of procedures, unacceptable rules, unstructured process, uncultured professionals, never seen.
I was introduced by a person called Shaik Hussain in Bangalore to L&T( Somnath, an executive at L&T), he say they are good, this is the 1st mistake I did here that I believed him thought L&T is not natianalized bank or reputed finance institution to relay on.
Somnath was worst enough with his Loan experience, he was not even having required basic knowledge on processing the loan, well, somehow he got replaced with Sriniavas, no one were able to answer my queries, based on Shaik Hussain’s previous experience( loan from Indus Bank) Ijust ignored since I wanted loan at that time.
Srinivas is a kind of person who is always busy after loan is sanctioned, once loan is processed he dissappears, he dont even take our concurrence to put loan tenure, he himself sets the loan tenure based on his understanding, well, let me highlight 2nd mistake here, I still aggreed to continue with L&T because by that I had paid enough money 21, 000/- for loan processing fee.
somehow, loan is sanctioned, a big question where is the DD, when is it reaching me, no idea at all, and we get answer only over message(text message or sms) that to proceed further to registration. 3rd mistake, even after no clarity of DD I did processed my registration date.
Finally Registration date is in front of me, I get message from srinivas that go ahead his Lawyer will come and give DD at the time registration, that lawyer is not at all aware that he should come to registration office, again tension with many followup calls.
7.After many calls finally, I get a time that 1pm Lawyer is reaching he is already on the way, but when we call Lawyer he says I dont know, when we communicate this to Srinivas he says no another lawyer is coming, dont worry go ahead. now its not a mistake I was already a monkey/donkey there, no option except waiting and listening to them.
Dear readers as your guessing says, that lawyer he did not come at all, we get sms that we cannot come at 3:45 pm by that registration people are not clear, we some how managed to convince the seller and got registered our property.
On that day evening, I went to L&T office only, to ask what happened, now new entry, Manjunath Srinivas’s Manager who is very good in threatening people and convince the people and bring the people frustration to calm level. he gives some light that we will get or DD somehow, that too after too many arguements he agrees to send his person to our place.
The next day we get our DD, either Manjunath or Srinivas calls for status, I only messaged since they did not take calls, saying that I recieved DD and thanking them.
So Loan taken, story does not end here friends.I start getting mails that on Loan account number, I have a surprise here, there is one more new small baby account is also created as Insurance against my property, which am not all aware, even while signing the loan documents, they include inside it and never explains that they are giving Insurance also,
Call Srinivas to ask this Insurance as usaual he never answers, okay somehow Insurance’s premmuim amount not 450 which is neglible at that time I also did not bother, thinking these L&T are sent this another Insurance account by mistake as they were not systematic I thought it s not mine I gnored it.
Now, I need a Khata document to change the ownership in BDA, I called customer care, raised a request, they said it takes 15 working days, this 15 working days is infinite for L&T always, never defined thie 15 working days, . in the meantime I called customer care I get surcastic answer that sir please have patience and wait 15 working days, okay, waited, what happned, customer care said not received, okay we will take a complaint, for processing that complaint it takes 15 working days, again.
till now that request is not answeredm believe friends that request is not completed, still in progress.
My story continues my dear friend, what I would to say is PLEASE PLEASE DO NOT TAKE LAON FROM L&T, THEY ARE NOT PROFESSIONALS, THEY DON’T ANSWER TO YOUR CALLS, THEY DON’T RESPOND TO YOUR MAILS, THEY DO NOT HAVE STURCTURE PROCESS, THOUGH INDIVIDUALLY GOOD L&T PROCESS MAKES THEM BEING IRRITATED, DON’T APPROACH L&T FOR ANY KIND OF BUSINESS TRANSACTIONS.