Hello Friends,
I want to share my experience as an SBI Home Loan customer, during which I have consistently paid my EMI. The application and approval process is pathetic.
However, I was surprised to see the interest rate for existing customers increase from 7.4% to 9.5%, while new customers are offered a rate of 8.5%. After multiple applications, we received rejections, despite our home loan amount remaining 29 lakh, which is below 30 lakh, so they were rejected. What kind of rules are these?
Additionally, without my consent, they changed the EMI due date from the 10th to the 5th of each month, imposing late charges. Yet, they continue to auto-debit the EMI on the 10th. What kind of policy is this?
Overall, it seems they are frustrating customers under the guise of rules and policies, making them deceived.